Go Metals Identifies IOCG Drill Targets
Vancouver, October 9, 2019 - Go Metals Corp. (CSE: GOCO) ("Go Metals" and/or the "Company") is pleased to announce it has identified multiple large untested Iron Oxide Copper Gold ("IOCG") drill targets on the 100% Go Metals owned Monster Project ("Property") in the Yukon, Canada. Go Metals reports the following:
Highlights:
- Completed new high-resolution detailed ground gravity and 3D inversion modelling
- Significant new gravity anomalies coincident with magnetic and induced polarization targets at the Bloom and Beast
- The Bloom gravity target now extends from surface to depth and is 1 km wide
- The Beast target is now a 1.5 km wide blind gravity anomaly
- IOCG signature confirmed by geophysics, alteration mapping, and chemistry including widespread mineralization at surface
The alteration and mineralization on the Monster is similar to that of the giant Olympic Dam and Carrapateena IOCG deposits. Like these deposits, the Monster is a large hematitic breccia zone that contains IOCG mineralization with high-grade copper and cobalt at the surface.
Slide deck and video presentation
This news release contains information that we have elaborated upon in our new slide deck and video presentation:
- Slide deck
- Video presentation
Bloom South target
The Bloom South drill target is characterized by a 500-metre-wide magnetic-high anomaly that is contained in a 1000-metre wide gravity anomaly. The gravity high reaches the surface around the periphery of the magnetic anomaly and is locally associated with surface mineralization. The Bloom South target is further confirmed by a chargeability high / resistivity low that is open to depth and overlaps with the magnetic anomaly.
The Bloom area has yielded high-grade surface showings commonly associated with high-density, proximal magnetic anomalies and assays up to 9.6% Cobalt (Co) and 3.8% Copper (Cu) in grab samples.
Figure 1
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Beast target
The Beast target shows alteration vectors with increasing intensity towards the large newly identified covered gravity and magnetic anomaly. Local surface mineralization in grab samples has yielded up to 2.5 Cu%Eq peripheral to the target area.
The Beast drill target is a blind target with a depth to top of less than 100 m. The target consists of a large gravity anomaly of approximately 2.77 - 3.10 g/cm3 that surrounds and partly overlaps with a magnetic anomaly. The easternmost limb of the gravity anomaly coincides with a pronounced IP chargeability anomaly of 39 mV/V.
Figure 2
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Future drilling program
Go Metals plans to drill both the Bloom South and the Beast target with a 4500 metres combined RAB and diamond drilling program. Approximately 1500 metres will be drilled on the Bloom South target and 3000 metres on the Beast Target. The drilling will include borehole EM, televiewing, and potentially other analyses that may aid in the discovery of an IOCG deposit.
Context:
The most important targeting tools for IOCG mineralization are magnetics and gravity. Accordingly, Go Metals has put considerable effort into acquiring these data sets in high resolution. The upgraded data sets have now confirmed and identified new highly prospective IOCG targets on the Monster Property.
The best drilling targets consist of near-coincident magnetic and gravity anomalies close to surface confirmed by IP anomalies. This type of geophysical signature is indicative of IOCG mineralization globally and occurs on both the Bloom and the Beast target.
Data presentation
The gravity data presented above was collected by MWH Geosurvey. Quality assurance and control was performed both using MWH in-house protocols and by independent geophysicists from Southern Geoscience, a group with extensive experience in IOCG targets. The gravity inversions were generated from gravity stations at 100m spacing. The resulting voxels are roughly 11m in size and have an error of 0.03 mgal yielding an excellent signal to noise ratio.
Qualified Person
Adrian Smith, P.Geo, is the qualified person for the Company as defined in the National Instrument NI43-101 and has reviewed the technical information presented in this news release.
About Go Metals:
Go Metals seeks to fund exciting and relevant exploration and development projects. Our approach is to rely on local talent and respect local territories while maintaining upside exposure to new discoveries. Go Metals intends to develop energy metal projects to help meet the demand for a battery powered future.
Go Metals' main asset is the Monster IOCG project in the Yukon. The Monster IOCG is a Cu-Co-Ag-Au drill-ready property with coincident gravity, magnetic, and IP anomalies. Go Metals' secondary assets are the HSP Ni-Cu-PGE Property 100 km north of Havre St. Pierre, Quebec, and the Barachois V-Pb-Zn Property in the Gaspe Peninsula.
For further information, please contact:
Scott Sheldon, President Go Metals Corp.
Telephone: 604.725.1857
Email: scott@gometals.ca
Forward-Looking Information:
This press release may include "forward-looking information" (as that term is defined by Canadian securities legislation), concerning the Company's business. Forward-looking information is based on certain key expectations and assumptions made by the Company's management, including future plans for the exploration and development of its mineral properties. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.
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