Hemlo Explorers Commences Diamond Drilling at Project Idaho
TORONTO, July 11, 2023 - Hemlo Explorers Inc. (the "Company") (TSXV: HMLO) is pleased to announce it has commenced drilling at its Project Idaho, located approximately 2 km east of Generation Mining's Marathon Palladium-Copper Project ("Marathon Pd-Cu Project") near Marathon, Ontario.
Highlights:
- Diamond drilling has begun at Project Idaho to test a number of targets over a 3-kilometre NS-trending strike length
- Targets were chosen to intersect VTEM anomalies that occur at depth, which correspond to surface Pt, Pd, and Cu mineralization and Coldwell Complex intrusives
- Targets also coincident with a magnetic signature similar to that of the Eastern Gabbros at the neighbouring Marathon Pd-Cu Deposit within the Coldwell Complex
This is the Company's maiden drill campaign on Project Idaho, which has not seen any drilling since 1985. Phase 1 of the drill program targets several VTEM anomalies that occur at depth along a 3-kilometre NS-striking magnetic trend. Drill holes have been planned to intersect the VTEM anomalies, many of which occur near the inferred boundary between the Coldwell Complex to the west and the Archean volcanics to the east. Surface exposure of these rocks displayed chaotic, brecciated textures with visible sulfide mineralization. Grab samples returned anomalous values of Platinum, Palladium, Gold, and Copper. The diamond drill targets are within a 3-kilometre NS-trending zone featuring a magnetic signature analogous to the Eastern Gabbros at the Marathon Pd-Cu Deposit, roughly 2-kilometres to the west. The drill sites are also coincident with favourable regional structural features related to Coldwell Complex magmatism. Targets are relatively shallow, averaging roughly 180m depth.
The Company has invested significant efforts over the past twelve months to develop these drill targets, by compiling historic geological, geophysical, and geochemical data and incorporating novel exploration results from the 2022 field season as well as the airborne VTEM survey completed in 2022.
"We believe we have the potential to discover a significant mineralized system similar to the Marathon Pd-Cu project," said Brian Howlett, President and CEO of Hemlo Explorers. "We are excited to be drilling the western side of Project Idaho close to a neighbouring deposit in virgin ground."
Technical Information
Dr. Lesley Rose, P.Geo., Senior Exploration Geologist for the Company, is the "Qualified Person" as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for the accuracy of technical information contained in this news release.
About Hemlo Explorers Inc.
Hemlo Explorers is a Canadian-based mineral exploration company with a portfolio of properties in Ontario and Nunavut. We are focused on generating shareholder value through the advancement of our main Hemlo area projects, including the Project Idaho and the Pic Project optioned to Barrick Gold Inc.
For more information please contact:
Brian Howlett, President & CEO
Hemlo Explorers Inc.
brian@hemloexplorers.ca
1 (647) 227-3035
http://www.hemloexplorers.ca
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, exploration results, potential mineralization, statements relating to mineral resources, and the Company's plans with respect to the exploration and development of its properties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Hemlo Explorers Inc., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing, exploration risk and Covid-19 pandemic related orders. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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 release.
