Gama Explorations Begins Phase One Program at Big Onion
(TheNewswire)
VANCOUVER, BC – TheNewswire - June 2, 2022 - Gama Explorations Inc. (CSE:GAMA) (CNSX:GAMA.CN) (“Gama” or the “Company”) is pleased to announce that it has begun Phase One work on the Big Onion Project located a 20-minute drive from smithers British Columbia (figure 1).
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Figure 1
Phase One work on the Big Onion will include compilation of all the historical drilling, geological, geophysical, and geochemical data available. Big Onion core stored on site will be organized and labeled. Soil sampling in 2022 (figure 2) will tie the entire area together and infill and expand upon anomalous areas defined by historic data and the 2021 soil program.
Soil sampling and prospecting crews will mobilize to site June 1.
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Figure 2
The Big Onion property (“the Property”) is located 16 kilometers east of the town of Smithers, British Columbia, Canada at 126° 53' 46" West longitude and 54° 48' 35" north latitude. The Property consists of thirteen contiguous non surveyed mineral claims comprising a total area of 4,493.18 hectares. Richard Goodwin and Derrick Strickland P.Geo visited the Big Onion Property on December 8, 2021 prior to the completion of the 2022 NI 43-101 Technical Report, filed under the Companies Sedar profile at www.sedar.com.
The Big Onion Property is roughly centered on Astlais Creek and is underlain by a plutonic mass of late Cretaceous to early Tertiary quartz diorite porphyry and quartz feldspar porphyry that intruded Jurassic Hazelton Group mafic volcanics and sediments. The multiphase intrusive formed in a northeast trending lineament which likely prepared the host rock for plutonic emplacement and provided the conduit for mineralization.
The Property has seen a lot of historic work including almost 55,000 meters of drilling in the 1960’s, 1970’s and the 2000’s. The most recent resource estimate was done in 2010 for Eagle Peak Resources Inc. and Metal Mountain Resources lnc. by Giroux Consultants Inc. (Giroux, 2010) and outlined an indicated resource of 87.1 M tonnes grading 0.30% copper and an inferred resource of 8.6 M tonnes grading 0.27% copper.
The 2010 resource estimate is considered historical in nature by the Company and is provided for background information purposes only Itis not a current resource estimate. A qualified person (as defined in NI 43-101) has not done sufficient work to classify the historical estimate as a current mineral resource. The Company is not treating the historical estimate as a current mineral resource.
Table 1
Big Onion Copper Equivalent Indicated Resource
|
CUEQ |
Tonnes > Cutoff |
Grade > Cutoff |
Contained |
|||
|
(%) |
(tonnes) |
Cu (%) |
Mo (%) |
CuEq (%) |
Pounds Cu |
Pounds Mo |
|
0.15 |
156,800,000 |
0.237 |
0.0079 |
0.28 |
819,400,000 |
27,300,000 |
|
0.20 |
114,100,000 |
0.273 |
0.0087 |
0.32 |
686,800,000 |
21,900,000 |
|
0.25 |
81,000,000 |
0.308 |
0.0096 |
0.36 |
550,100,000 |
17,100,000 |
|
0.30 |
53,000,000 |
0.350 |
0.0104 |
0.41 |
409,000,000 |
12,200,000 |
|
0.35 |
33,300,000 |
0.396 |
0.0111 |
0.46 |
290,800,000 |
8,200,000 |
|
0.40 |
20,700,000 |
0.443 |
0.0119 |
0.51 |
202,200,000 |
5,400,000 |
|
0.45 |
12,800,000 |
0.494 |
0.0125 |
0.56 |
139,400,000 |
3,500,000 |
|
0.50 |
8,200,000 |
0.542 |
0.0130 |
0.61 |
98,000,000 |
2,400,000 |
|
0.55 |
5,500,000 |
0.585 |
0.0136 |
0.66 |
70,900.000 |
1,600,000 |
|
0.60^ |
3,600,000 |
0.626 |
0.0141 |
0.70 |
49,700,000 |
1,120,000 |
Table 2
Big Onion Copper Equivalent Inferred Resource
|
CUEQ |
Tonnes > Cutoff |
Grade > Cutoff |
Contained |
|||
|
(%) |
(tonnes) |
Cu (%) |
Mo (%) |
CuEq (%) |
Pounds Cu |
Pounds Mo |
|
0.15 |
18,000,000 |
0.214 |
0.0050 |
0.24 |
84,900,000 |
2,000,000 |
|
0.20 |
12,000,000 |
0.243 |
0.0057 |
0.28 |
64,300,000 |
1,500,000 |
|
0.25 |
6,600,000 |
0.284 |
0.0062 |
0.32 |
41,300,000 |
900,000 |
|
0.30 |
3,100,000 |
0.339 |
0.0061 |
0.37 |
23,200,000 |
420,000 |
|
0.35 |
1,600,000 |
0.385 |
0.0063 |
0.42 |
13,600,000 |
220,000 |
|
0.40 |
670,000 |
0.452 |
0.0065 |
0.49 |
6,700,000 |
100,000 |
|
0.45 |
410,000 |
0.497 |
0.0065 |
0.53 |
4,500,000 |
60,000 |
|
0.50 |
280,000 |
0.528 |
0.0063 |
0.56 |
3,300,000 |
40,000 |
|
0.55 |
120,000 |
0.580 |
0.0064 |
0.62 |
1,500,000 |
17,000 |
|
0.60 |
380,000 |
0.601 |
0.0066 |
0.64 |
1,100,000 |
12,000 |
The 2010 resource estimate is considered historical in nature by the Company and is provided for background information purposes only Itis not a current resource estimate. A qualified person (as defined in NI 43-101) has not done sufficient work to classify the historical estimate as a current mineral resource. The Company is not treating the historical estimate as a current mineral resource.
Work planned in 2022 is designed to aid in developing regional targets for drill testing in 2023. Drilling will also test the known historic mineralization at depth which is considered open at this time.
Gama has submitted a Notice of Work application to the Ministry of Energy, Mines and Low Carbon Innovation for an updated permit for future drilling.
Allan Larmour, President of Gama commented: “We are excited to begin the process of compiling the large volume of historical data with our new interpretations and the current environment of elevated copper prices. We are hopeful that major advances will be made towards our plans to significantly grow the historical resource over the coming fields seasons.”
Qualified Person
Norman Brewster, P. Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information provided in this release.
Gama Explorations Inc.
Gama is a Canadian company listed on the Canadian Stock Exchange (CSE: GAMA). The company is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of copper. The company currently has the right to acquire 100% interest in the property known as the Big Onion Project located a short 20-minute drive from the town of Smithers in northern British Columbia. The Company’s objective is to explore and, if warranted, develop the Big Onion Property. It is the intention of the Company to remain in the mineral exploration business. The Company will evaluate opportunities to acquire interest in additional exploration stage mineral properties.
ON BEHALF OF THE BOARD,
Allan Larmour | President and Director T: 604-961-5353
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
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