Battle North Gold Continues to Intersect High-Grade Mineralization at the McFinley and Pen Zones Near the Bateman Gold Project
Battle North Gold Continues to Intersect High-Grade Mineralization at the McFinley and Pen Zones Near the Bateman Gold Project
Canada NewsWire
TORONTO, Sept. 24, 2020
TORONTO, Sept. 24, 2020 /CNW/ - Battle North Gold Corporation (TSX: BNAU) (OTCQX: BNAUF) ("Battle North" or the "Company") reports additional high-grade assay results from the confirmatory drilling program at the McFinley and Pen Zones, which form part of the "String of Pearls" exploration targets near the Bateman Gold Project (the "Project") infrastructure. Please see Diagram 1 at the end of this news release for a plan view of the String of Pearls (with historical drill assays).
Table 1: McFinley and Pen Zone Assay Result Highlights (as of September 24, 2020)1:
Drill hole number: | Intercept: | Notes: |
244L-20-02 | 34.01 grams per tonne of gold ("g/t Au") over 2.37 metres | Pen Zone; High-Ti Basalt Units; |
244L-20-04 | 6.88 g/t Au over 2.50 m (including 24.10 g/t Au over 0.50 m) | Pen Zone; High-Ti Basalt Units; |
244L-20-05 | 8.85 g/t Au over 0.89 m and 10.60 g/t over 0.53 m | Pen Zone; High-Ti Basalt Units and Ultramafic/Mafic Contact |
84L-20-12 | 10.90 g/t Au over 0.65 m | McFinley Zone; Banded iron formation |
The drilling programs at the McFinley Zone (46 m, 84 m and 122 m Levels) and the Pen Zone (244 m Level) are focused on confirming historical drilling2 and potentially defining mineral resource estimates, produced the above highlights. See Tables 2 and 3 below for a full summary of results and drill hole coordinates, respectively. See also the 'Qualified Persons and Quality Assurance / Quality Control' section below.
CEO Comment
Battle North President and Chief Executive Officer George Ogilvie, P.Eng., stated, "The results from the exploration drilling at the McFinley and Pen Zones are expected to provide sufficient information to compile an NI 43-101 mineral resource estimates for these zones, which are located less than three hundred metres below surface. We continue to believe that both the McFinley and Pen Zones, which are in close proximity to the Bateman Gold Project's infrastructure, exhibit the potential to provide future incremental mill feed to augment the Project's anticipated production profile. The high-grade intercepts encountered signal the upside potential of these zones, which remain open both across strike and at depth. We remain on track to complete NI 43-101 mineral resource estimates at the McFinley and Pen Zones in the fourth quarter of 2020 and first quarter of 2021, respectively."
McFinley Zone
The Company has completed approximately 1,620 m of drilling at the McFinley Zone at the 46 m, 84 m, and 122 m Levels. The drilling program targeted the gold mineralization hosted in gold-bearing quartz veins and sulphides in the banded-iron formation ("BIF") and basaltic unit settings. The McFinley Zone is comprised of three distinct sub-zones of mineralization denoted as the B, C, and D Zones. Within these sub-areas of mineralization, multiple parallel zones have been identified through this drill program and the re-interpretation of historical drilling. Please see Diagrams 2 to 11 for section views of the McFinley drilling program on the Battle North website under Projects > Red Lake Properties > String of Pearls in the "McFinley Zone" section. Please refer to the Battle North news release on August 11, 2020 for further details on the 2020 McFinley Zone drill program.
Pen Zone
In 2020, Battle North has to date completed approximately 2,600 m of drilling at the Pen Zone. Drilling was undertaken from the 244 m Level exploration drift. The Company has targeted the high-titanium basaltic units ("High-Ti Basalt Units"), which are the main host rock of gold mineralization in this zone and is also the main host rock of gold mineralization at the F2 Gold Zone of the Bateman Gold Project. As part of the Pen Zone drilling program, drill hole 244L-20-05 intersected a mafic/ultramafic contact towards the end of the hole containing gold mineralization, which ties in with ongoing modelling and re-interpretation work utilizing historical drill hole information. Other areas of high-grade gold mineralization are located along the contact between chlorite-pyrite+/-ankerite altered mafic and ultramafic rocks east of the East Bay Deformation Zone ("EBDZ"). This mafic/ultramafic structure runs parallel to the EBDZ. Work is ongoing to advance understanding of the structure. Please see Diagram 3 at the end of this news release for a section view of the Pen Zone drilling program. Please refer to the Battle North news release on July 27, 2020 for further details on the Pen Zone drilling program.
Qualified Persons and Quality Assurance / Quality Control (QA/QC)
The content of this news release has been read, verified and approved by Michael Willett, P.Eng., Director of Projects for Battle North, and Isaac Oduro, P.Geo., Manager of Technical Services for Battle North, each of whom is a Qualified Person as defined by NI 43-101.
Underground drilling was conducted by Boart Longyear Drilling of Haileybury, Ontario and was supervised by the Battle North exploration team. All assays reported are uncut unless otherwise stated. Samples reported herein were assayed by SGS Mineral Services of Red Lake, Ontario and Activation Laboratories Ltd., Dryden, Ontario, both of which are independent of Battle North. All NQ core assays reported were obtained by fire assay with AA-finish or using gravimetric finish for values over 10.0 g/t Au.
Intercepts cited do not necessarily represent true widths, unless otherwise noted, however drilling is generally intersecting interpreted mineralized zones at angles between -30o and +30o. True width determinations are estimated at 65-80% of the core length intervals for the 305 m Level drilling, and estimated at 75-95% of the core length for the 610 m and 685 m Level drilling. Battle North Gold's quality control checks include insertion of blanks, standards and duplicates to ensure laboratory accuracy and precision3.
About Battle North Gold Minerals Corporation
Battle North is a Canadian gold mine developer led by an accomplished management team with successful underground gold mine operations, finance, and capital markets experience. Battle North owns the significantly de-risked and shovel-ready Bateman Gold Project, located in the renowned Red Lake gold district in Ontario, Canada and controls the strategic and second largest exploration ground in the district. Battle North also owns a large gold exploration land package on the Long Canyon gold trend near the Nevada-Utah border in the United States. Battle North's shares are listed on the Toronto Stock Exchange (BNAU) and the OTCQX markets (BNAUF). For more information, please visit our website at www.battlenorthgold.com.
BATTLE NORTH GOLD CORPORATION
George Ogilvie, P.Eng.
President, CEO, and Director
Diagram 1: String of Pearls – Historical Drill Intercepts3,4 (pre-2020) at the Pen, CARZ, and Island Zones in Proximity to the F2 Gold Zone at the Bateman Gold Project. Plan View.
Link to Diagrams 2-11: McFinley Zone Drilling Program Sections
Diagram 12: Pen Zone Drilling Program – Historical1 (pre-2020) and 2020 (to September 24) Drill Intercepts. Section View Looking North
Table 2: 2020 McFinley and Pen Zone Exploration Program – Summary of the Assay Results, up to September 24, 20205
Drill hole | Elevation | Zones | Total Depth | Vertical depth | From | To | Width | True width | Grade |
New assay results from the McFinley and Pen Zone drilling since prior disclosure1 | |||||||||
46L-20-01 | 46 m Level | McFinley (D Zone footwall) ("DFW") | 90.00 | 53.00 | 70.23 | 70.65 | 0.42 | 0.40 | 3.14 |
46L-20-02 | 46 m Level | McFinley | 90.00 | 60.00 | 75.95 | 76.83 | 0.88 | 0.82 | 3.95 |
46L-20-03 | 46 m Level | McFinley | 45.00 | 34.00 | 8.62 | 9.57 | 0.95 | 0.86 | 3.36 |
46L-20-04 | 46 m Level | McFinley | 30.00 | 35.00 | 18.74 | 19.25 | 0.51 | 0.49 | 2.15 |
84L-20-11 | 84 m Level | McFinley | 40.50 | 69.0 | 16.00 | 16.55 | 0.55 | 0.55 | 4.59 |
69.0 | 18.70 | 19.40 | 0.70 | 0.70 | 3.08 | ||||
84L-20-12 | 84 m Level | McFinley | 24.50 | 79.0 | 24.50 | 25.15 | 0.65 | 0.59 | 10.90 |
122L-20-03 | 82.40 | 115.00 | 153.33 | 154.00 | 0.67 | 0.67 | 3.28 | ||
115.00 | 158.00 | 159.00 | 1.00 | 1.00 | 3.15 | ||||
244L-20-02 | 244 m Level | Pen | 484.50 | 174.00 | 403.32 | 404.07 | 0.75 | 0.74 | 4.22 |
173.00 | 410.35 | 411.69 | 1.34 | 1.32 | 18.08 | ||||
172.00 | 422.6 | 424.97 | 2.37 | 2.35 | 34.01 | ||||
Including | 423.28 | 423.78 | 0.50 | 136.0 | |||||
Including | 424.17 | 424.62 | 0.45 | 23.30 | |||||
244L-20-04 | 244 m Level | Pen | 549.00 | 293.00 | 415.00 | 415.82 | 0.82 | 0.81 | 3.15 |
298.00 | 448.46 | 448.76 | 0.30 | 0.3 | 5.37 | ||||
300.00 | 471.00 | 471.92 | 0.92 | 0.91 | 5.08 | ||||
304.00 | 516.00 | 518.50 | 2.50 | 2.49 | 6.88 | ||||
Including | 518.00 | 518.50 | 0.50 | 24.10 | |||||
244L-20-05 | 244 m Level | Pen | 525.00 | 222.00 | 337.05 | 337.94 | 0.89 | 0.89 | 8.84 |
206.00 | 480.00 | 480.53 | 0.53 | 0.47 | 10.60 | ||||
Previously disclosed drill assays1 | |||||||||
84L-20-016 | 84 m Level | McFinley (D) | 90.00 | 67.00 | 3.12 | 3.70 | 0.58 | 0.58 | 5.67 |
70.00 | 29.55 | 31.16 | 1.61 | 1.60 | 7.36 | ||||
Including | 30.00 | 30.40 | 0.40 | 0.40 | 15.50 | ||||
73.00 | 57.28 | 57.71 | 0.43 | 0.43 | 5.39 | ||||
75.00 | 86.73 | 87.25 | 0.52 | 0.52 | 5.62 | ||||
84L-20-027 | 84 m Level | McFinley (D) | 60.50 | 70.00 | 4.35 | 4.65 | 0.30 | 0.27 | 84.90 |
83.00 | 35.40 | 37.20 | 1.20 | 1.09 | 6.31 | ||||
Including | 36.30 | 36.60 | 0.30 | 0.27 | 14.40 | ||||
84L-20-036 | 84 m Level | McFinley (D) | 60.00 | 82.0 | 41.53 | 41.78 | 0.25 | 0.23 | 1.37 |
84L-20-046 | 84 m Level | McFinley (D) | 81.00 | 75.0 | 21.90 | 22.50 | 0.60 | 0.56 | 3.44 |
93.0 | 49.02 | 50.00 | 0.98 | 0.92 | 5.63 | ||||
84L-20-056 | 84 m Level | McFinley (D) | 90.00 | 73.00 | 17.13 | 17.70 | 0.57 | 0.55 | 4.89 |
78.00 | 38.25 | 39.24 | 0.99 | 0.96 | 7.23 | ||||
80.00 | 49.67 | 49.95 | 0.28 | 0.27 | 134.00 | ||||
86.00 | 80.00 | 81.00 | 1.00 | 0.97 | 3.60 | ||||
87.00 | 83.00 | 84.00 | 1.00 | 0.97 | 5.09 | ||||
84L-20-066 | 84 m Level | McFinley (D) | 51.00 | 68.00 | 14.90 | 15.87 | 0.97 | 0.97 | 7.01 |
68.00 | 19.88 | 20.28 | 0.40 | 0.40 | 3.80 | ||||
84L-20-076 | 84 m Level | McFinley (D) | 80.50 | 71.00 | 30.25 | 30.56 | 0.31 | 0.31 | 20.50 |
84L-20-086 | 84 m Level | McFinley (D) | 51.00 | 73.00 | 20.05 | 25.36 | 0.31 | 0.31 | 1.74 |
84L-20-096 | 84 m Level | McFinley (D) | 90.00 | 96.00 | 86.64 | 87.00 | 0.36 | 0.35 | 3.50 |
84L-20-106 | 84 m Level | McFinley (D) | 36.00 | 67.00 | 15.57 | 16.18 | 0.43 | 0.43 | 3.07 |
67.00 | 18.00 | 18.50 | 0.50 | 0.50 | 11.60 | ||||
67.00 | 22.20 | 22.87 | 0.67 | 0.67 | 9.72 | ||||
67.00 | 27.56 | 28.05 | 0.49 | 0.49 | 3.21 | ||||
122L–20–016 | 122 m Level | McFinley (B) | 90.00 | 113.00 | 44.40 | 45.00 | 0.60 | 0.59 | 1.12 |
116.00 | 69.00 | 69.50 | 0.50 | 0.49 | 1.32 | ||||
122L–20–026 | 122 m Level | McFinley (B) | 88.50 | 112.00 | 31.00 | 32.00 | 1.00 | 0.99 | 5.77 |
119.00 | 70.00 | 70.50 | 0.50 | 0.49 | 1.67 | ||||
122L–20–036 | 122 m Level | McFinley (B) | 82.40 | 107.00 | 6.70 | 7.00 | 0.30 | 0.30 | 1.47 |
122L–20–046 | 122 m Level | McFinley (B) | 36.00 | 108.00 | 7.00 | 7.66 | 0.66 | 0.63 | 11.00 |
110.00 | 11.70 | 12.00 | 0.30 | 0.29 | 3.72 | ||||
111.00 | 13.50 | 14.00 | 0.50 | 0.48 | 7.14 | ||||
122L–20–056 | 122 m Level | McFinley (B) | 36.00 | 118.00 | 33.00 | 33.80 | 0.80 | 0.75 | 3.75 |
122L–20–066 | 122 m Level | McFinley (B) | 36.00 | No significant assays | |||||
122L–20–076 | 122 m Level | McFinley (B) | 46.00 | 110.00 | 8.00 | 8.50 | 0.50 | 0.47 | 6.34 |
122L–20–086 | 122 m Level | McFinley (B) | 36.50 | 108.00 | 11.45 | 11.67 | 0.22 | 0.22 | 3.34 |
109.00 | 25.00 | 25.30 | 0.30 | 0.30 | 4.18 | ||||
122L–20–096 | 122 m Level | McFinley (B) | 42.00 | 110.00 | 7.84 | 8.05 | 0.21 | 0.20 | 191.00 |
244L-20-012 | 244 m Level | Pen | 500.00 | 264.0 | 397.00 | 399.00 | 2.00 | 1.99 | 4.46 |
244L-20-032 | 244 m Level | Pen | 550.00 | 228 | 377.45 | 380.52 | 3.07 | 3.07 | 1.44 |
228 | 401.05 | 404.00 | 2.95 | 2.95 | 2.44 | ||||
228 | 410.88 | 411.43 | 0.55 | 0.55 | 2.06 | ||||
Table 3: 2020 McFinley and Pen Zone Exploration Program – New Drill Hole coordinates to September 24, 20201
Drill hole | Drill Hole Location | Azimuth | Inclination | ||
Easting (Mine Grid) | Northing (Mine Grid) | Elevation (Mine Grid) | |||
46L-20-01 | 9959.8 | 49959.4 | 5323.8 | 109.4 | -18.0 |
46L-20-02 | 9955.2 | 49836.4 | 5324.8 | 86.1 | -21.3 |
46L-20-03 | 9954.5 | 49790.1 | 5325.0 | 95.9 | -24.6 |
46L-20-04 | 9948.5 | 49671.5 | 5326.0 | 89.5 | -16.2 |
84L-20-11 | 9952.6 | 49734.3 | 5287.8 | 269.5 | -3.1 |
84L-20-12 | 9952.4 | 49734.1 | 5287.0 | 266.2 | -24.1 |
122L–20–03 | 10032.0 | 50053.5 | 5249.4 | 263.5 | –5.2 |
244L-20-02 | 10199.0 | 50307.6 | 5133.6 | 320.60 | 10.00 |
244L-20-04 | 10198.6 | 50307.5 | 5133.5 | 315.30 | -9.70 |
244L-20-05 | 10199.0 | 50309.0 | 5132.0 | 303.00 | 1.00 |
Cautionary Statement regarding Forward-Looking Statements
All statements, other than statements of historical fact, contained or incorporated by reference in this news release constitute "forward-looking statements" and "forward looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipated", "assumptions", "believe", "contingencies", "demonstrate", "exhibits", "estimate", "expect", "exploration", "factors", "focus", "forward", "future", "interpretation", "may", "modelling", "ongoing", "on track", "planned", "possible", "potential", "profile", "program", "project", "prospect", "risk", "shovel-ready", "signal", "strategic", "study", "target", trend", "uncertainties", "understanding" , "upside" and "will", or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, will (or not) be achieved, demonstrate, occur, provide, result or support in the future. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. Forward-looking statements include statements regarding mineral resource estimates and other mineralization including historical and any future such estimates for the McFinley and Pen Zones (and timing thereof); the current and future results of the 2020 McFinley and Pen Zone drilling program including openness across strike or at depth thereof; potential to use mineralized material from the McFinley or Pen Zones as incremental mill feed for the Project and impact on its production profile; and exploration targets including the String of Pearls.
Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. The assumptions, estimates, expectations and opinions referenced, contained or incorporated by reference in this news release which may prove to be incorrect include those set forth herein, and in the Company's Management's Discussion and Analysis for the quarter ended June 30, 2020 (the "Q2, 2020 MD&A") and the accompanying financial statements, and the July 2020 Technical Report, all available under the Company's profile at www.sedar.com and on its website at www.battlenorthgold.com.
Forward-looking statements are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of Battle North to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and other factors include, among others: gold price fluctuations; possible variations in mineralization, grade or recovery or throughput rates; uncertainty of mineral resource estimates; inability to realize exploration potential, mineral grades and mineral recovery estimates; actual results of exploration activities including their impact; delays in completion of exploration and other drilling or plans, and any modelling, re-interpretations or studies, including the ongoing Feasibility Study for the Project, for any reason including insufficient capital and other risks, uncertainties, contingencies and factors identified herein; labour issues at the Company or third parties, such as government and regulatory agencies, suppliers and service providers, including labour shortages and/or work curtailments or stoppages as may result from COVID-19; conclusions of economic, geological or structural evaluations and models including those reflected in mineral resource estimates, or included in the July 2020 Technical Report and the ongoing Feasibility Study for the Project, and any other studies for the Project; changes in Project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; accidents and other risks of the mining industry; delays and other risks related to operations; the ability to obtain and maintain permits and other regulatory approvals (as well as the timing and terms thereof) and to comply with such permits, approvals and other applicable regulatory requirements; the ability of Battle North to comply with its obligations under material agreements including its current loan facility and other financing agreements; the availability of financing for proposed programs and working capital requirements on reasonable terms and in a timely manner; the ability to meet, repay, or refinance, or replace, or renegotiate current and future debt obligations on reasonable terms and in a timely manner including the current loan facility and closure and reclamation surety bond; the ability of third-party service providers and other suppliers to deliver on reasonable terms and in a timely manner (including those working on the ongoing Feasibility Study for the Project); risks associated with the ability to retain key executives and key operating personnel; cost of environmental expenditures and potential environmental liabilities; relations with local communities including First Nations; failure of plant, equipment or processes to operate as anticipated; cost of supplies; market conditions and general business, economic, competitive, political and social conditions; our ability to generate sufficient cash flow from operations or obtain adequate financing to fund our capital expenditures and working capital needs and meet our other obligations; the volatility of our stock price, and the ability of our common stock to remain listed and traded on the TSX; epidemics, pandemics and other public health crises, including COVID-19 or similar such viruses; and the "Risk Factors" in the Company's annual information form dated March 27, 2020 ("2020 AIF") as well as the risks, uncertainties, contingencies and other factors identified in the July 2020 Technical Report and the Q2, 2020 MD&A and accompanying financial statements, all of which are available under the Company's profile at www.sedar.com and on its website at www.battlenorthgold.com. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should consult the more complete discussion of the Company's business, financial condition and prospects that is provided in the 2020 AIF.
The forward-looking statements referenced or contained herein are expressly qualified by these Cautionary Statements as well as the Cautionary Statements in the Q2, 2020 MD&A, the 2020 AIF, the July 2020 Technical Report and the Company's prior news releases referenced in this news release including those dated July 27 and August 11, 2020, all of which are available under the Company's profile at www.sedar.com and on its website at www.battlenorthgold.com. Forward-looking statements contained herein are made as of the date of this news release (or as otherwise expressly specified) and Battle North disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable laws.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
___________________________________________
1 Drilling since results reported in the Company's news releases on July 27, 2020 in respect of the Pen Zone and on August 11, 2020 in respect of the McFinley Zone.
2 For more information on the historical data at the Pen Zone, please refer to the Battle North July 27, 2020 news release, which is also found in the Company's profile on www.sedar.com. For more information on the historical data at the McFinley Zone, please refer to the Mineral Deposit Inventory for Ontario, MENDM which is available at http://www.geologyontario.mndm.gov.on.ca/mndmfiles/mdi/data/records/MDI52N04SE00005.html and 2002 technical report on the McFinley Zone found on the Company's website www.battlenorthgold.com in the Projects > Red lake Properties > String of Pearls section under "McFinley Zone". The current mineral resource estimate for this deposit is historical, and is not compliant with National Instrument 43-101 ("NI 43-101").
3 For more information on applicable QA/QC procedures, see the Technical Report for the Project dated July 7, 2020, and effective May 5, 2020 (the "July 2020 Technical Report"), available under the Company's profile at www.sedar.com and on its website at www.battlenorthgold.com.
4 For more details please refer to the Battle North news release dated June 17, 2015 for the historical CARZ drilling results and September 30, 2004 for the historical Island Zone drilling results, available under the Company's profile at www.sedar.com and on its website at www.battlenorthgold.com.
5 See the 'Qualified Persons and Quality Assurance / Quality Control' section above.
6 For more details on previously released drill assays from the 2020 McFinley Zone drilling, please refer to the Battle North news release dated August 11, 2020.
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