Mistango Commences Goldie Drill Program
Toronto, January 8, 2024 - Mistango River Resources Inc. (CSE: MIS) ("Mistango" or the "Company") announces the commencement of its Phase II drill program at its 89 square kilometre Goldie Project in the Shebandowan Greenstone Belt, 50 kilometres west of Thunder Bay, Ontario.
Highlights:
- Three holes, totaling 1,430 meters, will test extensions of the adjacent Delta 1 Project mineralization and new target areas.
- Hole GLD-23-001 is a vertical hole designed to test the north dipping mineralization from the adjacent Delta 1 property.
- Hole GLD-23-002 will test a geophysical target at the south end of the Goldie property.
- Hole GLD-23-003 will test an area of previous drilling and high-grade sampling that correlates with interpreted structures and geophysics anomalies.
Jamie Spratt, CEO commented: "We are pleased to commence drilling again on our prospective 89 square kilometre Goldie property in the emerging Shebandowan Greenstone Belt. Our exploration team has carefully designed the program to test extensions of interpreted mineralized structures and new target areas. We look forward to advancing our understanding of the district's geology and favourable structural trend. The program is fully funded, and Mistango remains well positioned with a strong balance sheet that allows us to advance our projects in a disciplined fashion."
Phase II Drill Program Details
The Phase II program consists of three holes for a total of 1,430m. The program has been designed through a comprehensive compilation of detailed sampling, geophysical studies and previous drill results in the district. Geophysical targeting is based in part on the 420 lines kilometre high-resolution airborne magnetic survey that Mistango completed in 2023.
The program aims to confirm and better define the presence of known mineralized structures and test new target areas on the Goldie property.
Hole GLD-23-001 is a vertical hole designed to test the north dipping mineralization from the adjacent Delta 1 property. Hole GLD-23-003 will target an area of previous drilling and high-grade sampling that correlates with interpreted structures from the previously completed magnetic survey. The targeted hole will also be drilled underneath an IP anomaly.
Hole GLD-23-002 will test interpreted structures from previous geophysical studies at the south end of the Goldie property and on trend from known mineralization.
About the Goldie Gold Project
Goldie is within the Shebandowan Greenstone Belt, which also hosts Goldshore Resources Inc.'s (TSXV: GSHR) low-grade, high-tonnage Moss Lake gold deposit, 50 km to the west. Goldie is also adjacent to Delta Resources Limited (TSXV: DLTA) Delta 1 Gold Property.
QP Statement
The technical information in this news release has been reviewed and approved by Antoine Schwartzmann, P.Geo., a Qualified Person as defined in "National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Mistango River Resources Inc.
Mistango is a Canadian-based exploration company focused on its Goldie project, 50km west of Thunder Bay, within the Shebandowan Greenstone Belt. Mistango has partnered with Agnico Eagle Mines Ltd. to develop its Kirkland West and Omega projects under a $60M option agreement, whereby Agnico can earn up to 75% of the Projects. Mistango has a strong balance sheet and key strategic investors, including Agnico.
For further information, please contact us:
Mistango River Resources
Jamie Spratt, CEO
416.435.5199
jspratt@oregroup.ca
Forward-Looking Statements
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Mistango assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Mistango. Additional information identifying risks and uncertainties is contained in filings by Mistango with Canadian securities regulators, which filings are available under Mistango profile at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/193308
