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GTA Reports 124.5 Metres Grading 1.05 G/T Gold From Northshore Joint Venture

Jul 1, 2020
(Burlington, February 25, 2019) GTA Resources and Mining Inc. (“GTA” or the “Company”) announces the assay results from three drill holes completed in December, 2018 on the Northshore Property located near Schreiber, Ontario.
The program included two long holes that tested the Afric Gold Deposit beneath the previously outlined resource. They successfully expanded the Deposit, leaving it open for additional delineation at depth, in particular to the east and northeast. The Afric Gold Deposit continues to demonstrate significant widths to depth highlighted by an intercept of 124.50 metres grading 1.05 g/t gold (0.86 g/t gold “cut”) in hole WB-18-54.
As with previous drilling this broad mineralized envelope includes a high grade core, which returned 7.00 metres grading 11.15 g/t gold (7.65 g/t gold “cut”), including 1.00 metre grading 56.50 g/t gold. This intercept extends the high grade core of the Afric Gold Deposit by approximately 125 vertical metres in the area tested, to a little over 250 vertical metres depth, and appears to support a northeast plunge to the high grade gold mineralization.
 
* Reported drill intercepts are not true widths. Insufficient data is available to calculate true
 
**Assays over 32.0 g/t gold have been cut to 32.0 g/t gold (this applies to one sample in hole WB18-54 only, which assayed 56.5 g/t over 1.0 m)
 
The third hole of the program, WB-18-55, tested a magnetic low exploration target outside the Afric Gold Deposit and outside the host intrusive unit. Future work on the Northshore Property will be reviewed by the joint venture following completion of the sale of GTA’s mineral property assets which remains pending.
 
About the Northshore Property
 
The Northshore Property is resource stage gold property located in Priske Township, Ontario, immediately south of the town of Schreiber and three kilometres south of the Trans-Canada Highway. The property hosts a number of known zones of gold mineralization including the former producing North Shore Mine and the Afric Gold Deposit, the latter the current focus of activity.
Located in the Hemlo-Schrieber greenstone belt approximately 70 kilometres west of the world class Hemlo gold deposit, the structurally controlled, intrusive-hosted gold mineralization on the Northshore Property shares similarities with gold deposits in the Kirkland Lake and West Timmins areas of Ontario.
The Northshore Property is a joint venture with GTA holding an approximate 54.0% interest and Balmoral Resources Ltd. holding the remaining 46%. GTA is the current operator of the joint venture.
 
Quality Control and Assurance
 
GTA has implemented a quality control program for the drill programs on the Northshore Property to ensure best practice in sampling and analysis. GTA maintains strict quality assurance/quality control protocols including the systematic insertion of certified standard reference and blank materials into each sample batch. Analyses in this release were performed by AGAT labs in Thunder Bay and Mississauga, Ontario with ISO 17025 accreditation. Samples were transported in sealed bags to AGAT and all samples were assayed using industry-standard assay techniques for
gold. Gold was analyzed by a standard 30 gram fire assay with an AA and/or gravimetric finish.
Wayne Reid, P. Geo., Director and VP Exploration for GTA and a Qualified Person as defined in National Instrument 43-101, was involved in the planning, execution and monitoring of GTA’s exploration program at Northshore.
 
On behalf of the board of directors GTA Resources and Mining Inc.
“Peter M. Clausi”
Director and CEO +1416 890-1232orientations at this time.
 

Source: https://gtaresources.com/assets/02-25-northshore-assay-results.pdf