Gaia Metals Corp. Completes Phase I Surface Program and Awaits Sample Assays as it Readies for Phase II Drill Program at the Freeman Creek Gold Property
VANCOUVER, August 31, 2020 - Gaia Metals Corp. (the "Company") (TSXV:GMC)(OTCQB:RGDCF)(FSE:R9G) is pleased to announce that the Phase I surface field program at the Freeman Creek Gold Property (the "Property") has been completed with all samples currently en-route to Activation Laboratories in Kamloops, BC. The Property is located approximately 15 km northeast of Salmon, in the State of Idaho, USA, and is accessible via paved highway and a network of gravel roads and trails. The program's objectives were to verify the locations of historical drill collars, adits, and open-cut locations, as well as complete Property-wide prospecting and rock sampling, soil sampling, and a ground magnetic survey. Over the course of the fourteen (14) days on site at Freeman Creek, a total of 222 rock samples were collected throughout the Property, a 162-sample soil grid completed over the Gold Dyke Prospect, and a magnetic survey completed over both the Gold Dyke and Carmen Creek Prospects.
The Company is pleased to report the successful completion of each objective with the primary gold-silver occurrences, that denote the Gold Dyke and Carmen Creek prospects, having been located as well as the drill pad location for historical drill holes RDH-8 and RDH-10, where mineralized intercepts of 1.5 g/t Au and 12.1 g/t Ag over 44.2 m (RDH-8) and 1.7 g/t Au and 17.1 g/t Ag over 21.3 m (RDH-10) were returned historically. A primary objective of the Phase II drill program will be to verify these historical drill results. Several adits were also located proximal to both prospects, as well as numerous open-cuts and blast sites (see Photo below).
Mineralization at Gold Dyke is hosted by strongly silicified meta-sediments with quartz veining and minor sulphides (pyrite, arsenopyrite, chalcopyrite), and at Carmen Creek by chlorite mica-schists with quartz veining, magnetite, and common malachite and sulphides (bornite, chalcopyrite, pyrite). At Carmen Creek, initial field prospecting outlines a central mineralized zone of 1-2 m and veining extending out 5 to 10 m into the wall rock. Preliminary interpretation of the magnetic data for Carmen Creek indicates a magnetic high coincident with the mineralization, and likely reflects the magnetite content.
Historical documentation indicates the mineralogies observed at Carmen Creek, Gold Dyke, and elsewhere are associated to the gold-silver content. All rock samples are expected to arrive at the laboratory by end of week with assay results to be released as they are received. Some pictures of mineralization sampled at the prospects are presented below.
The company also wishes to report that it has retained Brian Brewer of Brewer Exploration Inc. to assist with drill permitting; with permits anticipated in short order.
Adrian Lamoureux, President, CEO, and Director of Gaia Metals Corp. comments: "Our Phase I surface program at Freeman Creek appears to have been a resounding success, with sample mineralogy indicating we have found what we are looking for. We are eagerly anticipating assay results as we advance with the Phase II Drill Program planned for this fall.
Photo 1: Sample with abundant malachite, magnetite, sulphide - Carmen Creek Prospect
Photo 2: Abundant magnetite in quartz vein with oxidized copper
Photo 3: Hydrothermal alteration with bleached veinlets/fractures at entrance of Adit #2 - Gold Dyke Prospect
Photo 4: Historical Adit #2 - Gold Dyke Prospect
Management cautions that the descriptive information of mineralization as assessed in the field is qualitative, and that elemental analysis from an accredited laboratory is required for a quantitative assessment of mineralization.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration for the Company and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Gaia Metals Corp.
Gaia Metals Corp. is a mineral exploration company focused on the acquisition and development of mineral projects containing base and precious metals, including platinum group elements, and lithium.
The Company's flagship asset is the Freeman Creek Gold Property, located in Idaho, USA. The Property hosts two major advanced targets; the Gold Dyke Prospect, with an historical drill intercept of 1.5 g/t Au and 12.1 g/t Ag over 44.2 m (RDH 8), and the Carmen Creek Mine Prospect, with an historical outcrop sample assay of 14.15 g/t Au, 63 g/t Ag, and 1.2% Cu.
Additional assets include the wholly owned Corvette Property, and the FCI Property (held under Option from O3 Mining Inc.) located in the James Bay Region of Quebec. The properties are contiguous and host significant gold-silver-copper-PGE-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC; the Golden Silica Property, BC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
For further information, please contact Adrian Lamoureux, President & CEO at Tel: 778-945-2950, E-mail: adrian@gaiametalscorp.com or visit www.gaiametalscorp.com.
On Behalf of the Board of Directors,
"ADRIAN LAMOUREUX"
Adrian Lamoureux, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
SOURCE: Gaia Metals Corp.
