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Joshua Gold Resources Conducts Comprehensive Sampling Program at Tecumseh Property

06.08.2024  |  Newsfile

Joshua Gold Resources conducts exploration program at its historical Tecumseh property, with 34 rock and soil samples currently undergoing lab analysis. Results expected to help shape future exploration and potential development strategies at the company's long-held property.

Woodstock, August 6, 2024 - Joshua Gold Resources Inc. (OTC Pink: JSHG) is pleased to announce that its geologic team has returned from a re-introductory sampling program at its Tecumseh Property in Davis Township in northern Ontario, north-east of Sudbury. 34 samples consisting of rock and soil were collected over 3 days during the July 2024 program and sent for laboratory analysis. JSHG is eagerly awaiting these results and will share the findings when they become available. Along with the compilation of historic exploration records, the pending sample results will help guide the company's exploration strategy at the Tecumseh property. The analysis of the most recent samples could pave the way for exciting new opportunities for JSHG and will help to provide a foundation for future trenching and drilling programs at the site.

The roughly 217 acre, four-cell Tecumseh site is a long-held property within the JSHG portfolio. It is located approximately 26 miles east-northeast of Sudbury, Ontario (or about 51 miles by easily accessible road). The site has attracted the interest of numerous operators since the 1920s, while its mineral potential remains overwhelmingly unrealized (in part due to the limitations of the exploration methods used at the time). Following its most recent sampling program, JSHG is enthusiastic about the opportunity to leverage the cutting-edge analytical techniques available and use modern exploration methods to unlock the full potential of this historically promising site.

Historic Highlights:

  • Compilation of all previously reported surface quartz vein grab samples at the property from 2011 to 2020 averaged 14.1 g/t Au (uncut, n = 52, g/t = grams per tonne) or 0.41 oz/t Au, with 54% of samples returning greater than 1 g/t Au (0.03 oz/t), and 23% of samples greater than 10 g/t Au (0.23 oz/t), with a maximum value of 209 g/t Au (6.10 oz/t).

  • Eight large composite grab samples (roughly 9 to 10 pounds each) collected from the trenches by local prospector R. Cyr in 1996 averaged 39.7 g/t Au (1.16 oz/t).

More About the JSHG Tecumseh Property:

The Tecumseh property is primarily underlain by Precambrian rocks consisting of Huronian sediments. These were intruded by Nipissing gabbro sills and dikes. The Grenville Front lies just south of the property, however, the numerous documented gold occurrences in the district (including the historical Au-Cu-Co Scadding Mine) may be genetically related to the older Yavapai Orogeny.

Structurally, the site sits between two prominent northwest-trending faults: the Washagami Lake Fault and the McLaren Lake Fault. Both of these are secondary splays from the main east-west trending Ess Lake Fault. The property features an array of auriferous quartz-carbonate-hematite-mica-sulphide veins occurring over an area of approximately 800 feet by 2,300 feet. These strike northwest-southeast (120-140 degrees), and are hosted in a shallowly dipping gabbro sill.

Exploratory History:

Gold was first reported on the property during the 1920s to 1930s, during which time several shafts or pits were emplaced, however no historical records exist. The property appears to have been left idle until 1959 when Black Crow Mines undertook a self-potential geophysical survey and completed 4 shallow drill holes.

Work resumed intermittently from 1975 to 1988 by various operators. It consisted of geological and geophysical surveys, extensive surface trenching and sampling, and thirty shallow, small-diameter diamond drill holes (BQ at maximum = 1 7/16" core diameter). During this time the currently known system of auriferous veins were delineated, principally by trenching, along seven main trends (termed then from "A" to "G"), with individual veins attaining widths of a couple of inches to as much as 8 feet (approximately). Notably, some vein trends host as many as eight parallel sub-veins. The veins host accessory sulphide from trace amounts to locally semi-massive vugs of pyrite, pyrrhotite, and chalcopyrite. Historical operators judged the veins to be overly "nuggety" for gold, which hampered surficial trench sampling. This may also help explain why many of the narrow-diameter historical drill holes did not encounter high-grade gold at shallow depths.



Map 1: Location of quartz vein grab samples collected on the property since 2011 (as listed in Table 1 and Table 2) by operator.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6845/218763_8f14400ec44f09f1_001full.jpg

Historic Grab Sample Analysis:

In preparation for the current exploration program, an initial compilation of historical data was undertaken. From assessment files and internal reports, "modern-era" surface grab samples (keeping in mind the inherent potential sampling bias of grab samples) were compiled from work by R. Cyr in 1996, Trueclaim Exploration in 2011, Vision Prospecting in 2019, and JSHG in 2020 (Map 1).

The eight samples taken by Cyr (Table 1) were all over-sized (roughly 9 to 10 pounds each) to mitigate the nugget issue. These ranged from 11.6 g/t Au to 69.5 g/t Au (0.34 oz/t to 2.03 oz/t), averaging 39.7 g/t Au (1.16 oz/t). The fifty-two "normal-sized" (approximately 1 to 3 pounds) quartz vein grab samples collected from 2011 to 2020 returned an uncut average of 14.1 g/t Au (0.41 oz/t), ranging from 0.002 g/t Au to 209 g/t Au (0.00006 oz/t to 6.1 oz/t), with 77% of the samples greater than 0.1 g/t Au (0.003 oz/t), 54% of the samples greater than 1 g/t Au (0.03 oz/t), and 23% greater than 10 g/t Au (0.29 oz/t).

For clarity, it should be noted that the forty-one Trueclaim samples and the six Vision samples were prepared using standard crushing and pulverizing, while the five JSHG samples were processed by the laboratory using the "screen metallic" method before assaying, also to mitigate the nugget effect. Where analyzed, these combined samples also returned up to 12 g/t silver (0.35 oz/t), 1.53% copper, and 0.038% cobalt.

Future rock and core sampling work will continue to be evaluated using the screen metallic method, which was not routinely used in the past (other than by JSHG in 2020). Another focus will be on evaluating how auriferous the altered gabbro intervals between the quartz veins are, as historical work largely focused on sampling the veins. Where altered gabbros have been sampled in the past, assays of 0.1 to 0.4 g/t Au (0.003 oz/t to 0.01 oz/t) have been reported. If vein density and grade prove sufficient, consideration of a bulk open-pit mining scenario may be warranted.

Matt Rees, formerly Chief Geologist at IAMGold Corp. is leading the geological team and comments, "The high-grade gold values observed to date are very encouraging, and certainly indicate a fertile mineralizing system. It remains to be discovered if the system is better focused on the eastern gabbro-sediment contact, which may be structural but is covered beneath an extensive beaver pond for most of its more than half-mile strike length across the property. We may also find that the system is better developed directly beneath the known vein array, hosted in the sediments that are footwall to the gabbro sill."

Ben Fuschino, President and CEO of JSHG further comments: "I believe we have the right team and the right property with our Tecumseh site. Given the numerous high-grade gold veins on the property, we are very keen to see how the exploration program unfolds."

Table 1 - Analytical results from over-sized (roughly 9 to 10 pounds each) surface grab samples collected by R. Cyr in 1996:

TABLE 1

Sample_ID Easting Northing Au_ppm Ag_ppm Co_% Cu_% Comment
E654 536233 5170016 37.715 11.3 0.008 0.81 mostly from E6 trench
E1A 536252 5169907 69.464 5.8 0.038 0.13 southern E1 trench
E1 536221 5169938 39.086 8 0.01 0.72 northern E1 trench
E 536262 5169885 18.24 4.4 0.012 0.43 southern E trench
F 536283 5169830 56.16 4.6 0.013 0.31 south-east F trench
O 536158 5169914 60.412 5.2 0.011 0.19 Ore Dump
M na na 25.372 4 0.006 0.18 composite from various trenches
M1 536234 5169847 11.452 2.7 0.008 0.19 northern F trench

Table 2 - Analytical results for surface grab samples collected by various operators from 2011-2020 (VG = visible gold reported in the sample; TC = Trueclaim Exploration, VE = Vision Exploration, JSHG = Joshua Gold Resources; SM = Screen Metallics; ppm = g/t):

TABLE 2

Sample No Easting Northing Au ppm Ag ppm Co ppm Cu ppm Sampler Comment
Z061738 536225 5170090 0.035 1 19 596 TC
Z061739 536188 5170060 1.025 0.5 53 162 TC
Z061740 536235 5170022 0.007 0.5 22 70 TC
Z061741 536235 5170022 0.002 0.5 30 91 TC
Z061742 536233 5170013 0.273 1 24 396 TC
Z061743 536240 5170007 0.051 0.5 34 1318 TC
Z061744 536238 5170010 0.361 3 22 1414 TC
Z061745 536227 5170004 37.141 10 33 9873 TC VG
Z061746 536225 5169977 0.017 0.5 63 191 TC
Z061747 536216 5169977 2.708 0.5 20 291 TC
Z061748 536216 5169977 0.975 0.5 11 146 TC
Z061749 536208 5169952 0.979 0.5 28 197 TC
Z061750 536216 5169977 2.041 0.5 34 783 TC
Z061751 536216 5169977 0.055 0.5 2 81 TC VG
Z061752 536208 5169952 22.471 12 14 732 TC
Z061753 536235 5169903 16.318 4 40 3098 TC
Z061754 536264 5169890 0.009 0.5 4 77 TC VG
Z061755 536278 5169880 0.706 0.5 34 924 TC
Z061756 536223 5169908 15.42 1 3 24 TC
Z061757 536218 5169918 0.251 0.5 45 515 TC
Z061758 536216 5169912 2.31 0.5 19 113 TC
Z061759 536185 5169912 82.518 5 152 818 TC VG
Z061760 536195 5169912 0.273 2 11 117 TC
Z061761 536195 5169912 9.887 1 48 248 TC
Z061762 536195 5169912 17.107 2 27 178 TC
Z061763 536195 5169912 2.914 0.5 16 90 TC
Z061764 536175 5169839 0.046 0.5 2 10 TC
Z061765 536181 5169821 0.012 0.5 2 9 TC
Z061766 536250 5169816 1.073 0.5 5 95 TC
Z061767 536222 5169797 0.023 0.5 17 17 TC
Z061769 536299 5169744 0.002 0.5 12 20 TC
Z061770 536268 5169794 7.619 0.5 10 43 TC
Z061773 536208 5169916 59.063 2 61 1697 TC
Z061774 536311 5169787 0.194 1 29 892 TC
Z061775 536312 5169774 0.364 0.5 42 106 TC
Z061776 536327 5169801 46.35 1 26 154 TC
Z061777 536323 5169824 4.299 2 65 3128 TC
Z061778 536300 5169828 11.132 9 284 15255 TC VG
Z061780 536272 5169844 11.114 3 62 465 TC
Z061781 536030 5169564 0.072 3 133 2085 TC
Z061782 536007 5169602 0.982 4 102 2965 TC
Q203001 536228 5170081 0.359 na na na VE
Q203003 536187 5170063 1.3 na na na VE
Q203004 536242 5170001 1.78 na na na VE
Q203005 536233 5169935 209 na na na VE
Q203006 536216 5169949 3.48 na na na VE
Q203007 536237 5169868 5.73 na na na VE
378444 536232 5169934 140 10.3 20.3 6120 JSHG SM
378445 536217 5169939 0.35 0.15 13 466 JSHG SM
378446 536213 5169911 8.27 4.5 66 4380 JSHG SM
378447 536220 5169950 2.22 0.3 59 799 JSHG SM
378448 536262 5169894 4.49 1.6 78 1450 JSHG SM

Matt Rees, M.Sc., P.Geo (ON) is a professional geologist and a "Qualified Person" and is responsible for the technical information contained in this news release.

Joshua Gold Resources Inc. (OTC: JSHG) is a publicly traded American gold exploration company headquartered in Canada, engaged in the exploration of highly prospective properties. Joshua Gold's focus is to pinpoint mineral opportunities in Northern Ontario, Canada, a mature and friendly jurisdiction for exploration and mining companies. Northern Ontario is home to the two- to three-billion-year-old Canadian Shield which contains a wealth of minerals from nickel, gold, and copper, to cobalt, chromium, and lithium. For more on JSHG, please go to http://www.joshuagoldresources.com/.

Investor Relations Contact:
Peter Nicosia, President of Bull In Advantage, LLC
Phone: (585) 703-6565
Email: investors@joshuagoldresources.com

Marketing & Communications Consultant:

Michael Micacchi
Meet Michael Digital Marketing & E-Commerce
Phone: (519) 608-1146
Email: michael@meetmichael.ca
Website: https://www.meetmichael.ca

Safe Harbor Statement This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218763


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