Sitka Gold shares rise on high-grade results of initial diamond drilling at RC in Yukon
The assay results follow initial reports of visible gold at Rhosgobel in early October.
Highlights
Toronto, Ontario--(Newsfile Corp. - April 12, 2023) - Advance United Holdings Inc. (CSE: AUHI) (OTCQB: AUHIF) (FSE: 9I0) (the "Company" or "Advance United") is pleased to announce the receipt of final assay results all 15 diamond drill holes completed on the Buck Lake Property in the Sault-Ste Marie area, Ontario.
Figure 1: High-grade copper and/or zinc mineralization.
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8072/162123_img1.jpg
Drilling followed a successful summer work program where previously reported channel samples identified 4.93% zinc, 0.33 g/t gold, and 1.58% copper, as reported in the Company press releases on December 1, 2022 and December 21, 2022). A total of 688 samples were analyzed from 15 drill holes and tested with Actlabs in Timmins, Canada. The sampling was completed in accordance with their comprehensive Quality Assurance and Quality Control (QA/QC) program including the OREAS standards, blanks, duplicate core, and pulp samples.
The VMS zones at Buck Lake were stripped of overburden to expose bedrock and identified 10 areas with significant potential. A total of 89 samples, over a total length of 85-meters, identified several high priority targets including Taret Area "M" which showed highly anomalous gold up to 0.33 g/t along with high grade copper potential with anomalies averaging 1.58%.
"We are happy to report the final assays of the diamond drilling results from our 2022 drilling program at Buck Lake," states Mr. Jim Atkinson, P.Geo. and CEO of Advance United. "We appreciate the importance of these critical metals in today's commodity markets. And frankly underscores our value and approach - capture the value of critical materials and make play an important role in making them available at a reasonable cost. They are essential for economic and national security and fuel the renewable energy sector and the electrification of transportation. Our important role as a modern developer providing producers and the mining industry these opportunities is very fulfilling and exciting for our team and shareholders."
The drilling traced a 500 meter VMS mineralized zone, which not only possibly remains open on strike but remains untested beyond the 140 meter drilling depth.
The drilling intersected massive and semi-massive sulphide mineralization which the Company believes corresponds to the source of the VLF EM anomalies outlined by the previous surface work. Figure 1 below shows the relationship of the mineralization intersected in the drilling to the main VLF EM anomaly. The sulphide zone is open to the north and south and the Company intends to make the subject of follow-up with further geophysics and drilling.
Figure 2: Location of Drill Holes. Note the sulphide intersections are presented in red and the various VLF EM anomalies are colored in yellow, orange, red and blue, and the main mineralized zone is in Red.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8072/162123_3a162610d48d7b04_002full.jpg
The Buck Lake Geological Model
The drill program helped delineate mixed volcanic units consisting of felsic and mafic volcanics with tuffaceous and agglomerate textures enclosing the massive to semi-massive sulfides which are dominantly pyrite and pyrrhotite with varying amounts of chalcopyrite and sphalerite and rarely galena. The sulphide zones are often enclosed in silicious material and exhalite and are often accompanied by chloritic alteration.
The environment is typical of VMS-type deposits such as Kidd Creek in Timmins and Horne in Noranda. Notably, VMS deposits occur in clusters as can be seen in Mattagami and in NW Quebec (Millenbach, Ansil, Corbet etc.)
Copper and/or zinc mineralization was intersected in 13 of the 15 holes generally in zones of 3 to 4 meters. Notably, high-grade silver (up to 98 g/t) accompanied the higher copper mineralization.
The highest copper value returned in the present drilling program was in drill hole BL-22-06 which returned a value of 4.59 % Cu over 3.2 m in a larger zone of 11.75 m of 1.51% Cu. Drill holes BL-22-14 and BL-22-15 also intersected copper mineralization with assays of 0.42 over 4.15 meters and 2.38% over 2.95 meters.
Figure 3: Assays in this section returned 0.17% cu over 2.8-metres.
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8072/162123_3a162610d48d7b04_003full.jpg
In this photo we see a typical intersection of massive and semi-massive mineralization consisting of pyrite and pyrrhotite with chalcopyrite in a silicious and chlorite altered matrix which may be exhalite. In drill hole BL-22-04 assays in the section in the figure above returned 0.17% cu over 2.8-metres.
The full assay results are included below:
| Hole Number | From (m) | To (m) | Length (m) | Copper % | Zinc % | Ag g/t |
| BL-22-01 | ||||||
| 57.35 | 59.25 | 1.90 | 0.80 | 48.00 | ||
| 64.30 | 66.15 | 1.85 | 0.12 | |||
| 92.50 | 95.50 | 3.00 | 0.12 | |||
| 96.58 | 98.05 | 1.47 | 0.12 | |||
| 107.10 | 107.85 | 0.75 | 0.10 | |||
| 141.45 | 145.45 | 4.00 | 0.40 | |||
| BL-22-02 | From (m) | To (m) | Length (m) | Copper % | Zinc % | Ag (g/t) |
| 75.30 | 78.60 | 3.30 | 0.08 | |||
| 76.30 | 76.95 | 0.65 | 0.58 | 0.56 | 46.40 | |
| BL-22-03 | From (m) | To (m) | Length (m) | Copper % | Zinc % | |
| 67.80 | 70.20 | 2.40 | 0.36 | |||
| BL-22-04 | From (m) | To (m) | Length (m) | Copper % | Zinc % | |
| 93.55 | 96.37 | 2.82 | 0.17 | |||
| 94.75 | 96.88 | 2.13 | 0.11 | |||
| 138.00 | 144.00 | 6.00 | 0.11 | |||
| 152.75 | 155.05 | 2.30 | 0.32 | |||
| BL-22-05 | From (m) | To (m) | Length (m) | Copper % | Zinc % | |
| 75.65 | 78.70 | 3.05 | 0.23 | |||
| 113.53 | 115.53 | 2.00 | 0.10 | |||
| 201.35 | 203.55 | 2.20 | 0.06 | |||
| BL-22-06 | From (m) | To (m) | Length (m) | Copper % | Zinc % | |
| 35.35 | 47.10 | 11.75 | 1.51 | |||
| Including | 42.35 | 45.45 | 3.10 | 4.59 | ||
| BL-22-07 | From (m) | To (m) | Length (m) | Copper % | Zinc % | |
| 75.40 | 79.65 | 4.25 | 0.16 | |||
| 86.40 | 88.05 | 1.65 | 0.14 | |||
| 99.00 | 100.00 | 1.00 | 0.70 | |||
| BL-22-08 | Anomalous Cu | |||||
| BL-22-09 | From (m) | To (m) | Length (m) | Copper % | Zinc % | |
| 23.00 | 25.90 | 2.90 | 0.20 | |||
| 33.80 | 38.15 | 4.35 | 0.05 | |||
| 61.30 | 63.00 | 1.70 | 0.27 | |||
| BL-22-10 | From (m) | To (m) | Length (m) | Copper (%) | Zinc (%) | Ag (g/t) |
| 45.95 | 51.85 | 5.90 | 5.15 | |||
| 55.55 | 58.45 | 2.90 | 0.21 | |||
| BL-22-11 | From (m) | To (m) | Length (m) | Copper % | Zinc % | Ag (g/t) |
| 17.20 | 20.50 | 3.30 | 0.13 | |||
| Including | 19.80 | 20.50 | 0.70 | 0.25 | ||
| 21.80 | 25.60 | 3.80 | 0.14 | |||
| Including | 23.15 | 23.95 | 0.80 | 0.17 | ||
| 21.00 | 21.80 | 0.80 | 0.11 | |||
| 24.75 | 25.60 | 0.85 | 0.43 | |||
| Including | 16.00 | 26.45 | 10.45 | 3.61 | ||
| BL-22-12 | From (m) | To (m) | Length (m) | Copper % | Zinc % | Ag (g/t) |
| 18.00 | 19.00 | 1.00 | 0.71 | |||
| 72.30 | 73.00 | 0.70 | 0.15 | |||
| 128.00 | 132.70 | 4.70 | 0.08 | |||
| 128.00 | 136.15 | 8.15 | 1.70 | |||
| BL-22-13 | From (m) | To (m) | Length (m) | Copper % | Zinc % | Ag (g/t) |
| 78.00 | 79.00 | 1.00 | 0.14 | |||
| 166.00 | 169.00 | 3.00 | 0.23 | |||
| 166.00 | 171.65 | 5.65 | 18.10 | |||
| Including | 167.40 | 168.10 | 0.70 | 96.50 | ||
| BL-22-14 | From (m) | To (m) | Length (m) | Copper % | Zinc % | Ag (g/t) |
| 31.85 | 32.60 | 0.75 | 0.14 | 2.00 | ||
| 35.60 | 47.60 | 12.00 | 0.11 | 0.88 | ||
| 50.60 | 54.75 | 4.15 | 0.42 | 1.64 | ||
| 60.75 | 61.75 | 1.00 | 0.09 | 0.70 | ||
| BL-22-15 | From (m) | To (m) | Length (m) | Copper % | Zinc % | Ag (g/t) |
| 5.00 | 7.00 | 2.00 | 0.08 | 1.00 | ||
| 9.00 | 10.00 | 1.00 | 0.10 | 1.10 | ||
| 16.00 | 17.00 | 1.00 | 0.21 | |||
| 18.00 | 24.00 | 6.00 | 1.50 | |||
| 20.00 | 21.00 | 1.00 | 0.08 | 0.09 | ||
| 45.45 | 48.40 | 2.95 | 2.38 | 29.10 |
About Advance United Holdings
Advance United brings an entirely different approach to the mining industry. We don't mine. Rather, we've acquired a portfolio of undervalued gold properties and are increasing their value through the application of modern technology. We have a growing pipeline of similar properties that we are looking to acquire. And now we've launched the Au Marketplace. A first of its kind digital platform that connects owners of mineral commodities and deposits with developers and producers.
We are involved exclusively in the acquisition and advancement of past projects - with no intent to bring them back into production or to mine them ourselves. Our expertise is in identifying and acquiring undervalued properties with significant historical work, which were uneconomic at the time, but we believe have economic value at today's prices.
We fund the development of re-working historic data and applying modern technology to underwrite new qualified reports, document quantifiable resources and reserves to current standards, thereby recognizing the current value.
Our purpose is to bring immediate and long-term value to our partners and shareholders while seeking to eliminate exploration risk, so that we can all advance united in the shortest possible time frame.
For additional information about us, our projects, or to find out how you can list your project in the Au Marketplace, visit www.advanceunited.ca.
Contact InformationJames Atkinson, P. Geo., CEOEmail: [email protected]Tel: (647) 278-7502
Qualified Person
James Atkinson M.Sc., P. Geo., a Qualified Person ("QP") as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the geological information reported in this news release. The Qualified Person has not completed sufficient work to verify all historic information on the Property, particularly with regards to historical sampling, drill results, and technical work provided by Noranda and others. The Qualified Person assumes that sampling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
Forward-Looking Information and Cautionary Statements
This news release may contain "forward-looking information" within the meaning of applicable securities laws relating to the trading of the Company's securities and the focus of the Company's business. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "intends", "contemplates", "believes", "projects", "plans" and similar expressions. Forward-looking statements in this news release include statements regarding the Company's ability to increase the value of its current and future mineral exploration properties and, in connection therewith, any long-term shareholder value, the Company's ability to mitigate or eliminate exploration risk, and the Company's intention to develop a portfolio of historic gold properties. Readers are cautioned not to place undue reliance on forward-looking statements. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the Company will continue its business as described above. Readers are encouraged to refer to the Company's annual and quarterly management's discussion and analysis and other periodic filings made by the Company with the Canadian securities regulatory authorities under the Company's profile on SEDAR at www.sedar.com. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances or actual results unless required by applicable law.
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