Warrior Gold Announces Completion of Drill Program

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Feb 08, 2021 07:00 am

Warrior Gold Inc. (TSX-V - WAR) (“Warrior Gold” or the “Company”) is pleased to announce that the 2021 winter diamond drilling program on the Goodfish-Kirana property has been completed. A total of 3,068 metres were drilled in 12 holes plus one extension on hole GK20-032 from the 2020 drill program. Core logging, geotechnical work, and sampling are ongoing with core samples being sent for assay to Timmins as shipments are made ready.

Danièle Spethmann, President & CEO, stated, “We are excited to have completed the winter 2021 drill program on the ‘A’ Zone and ‘C’ Zone, as well as on a new target east of the ‘A’ Zone and look forward to receiving the assay results. The drilling program was modified from the original plan (see news release of January 7, 2021) as observations during the campaign indicated that drill metres were better utilized at the ‘A’ Zone. We are extremely pleased with the skill and efficiency of the drilling company and appreciate their efforts to complete our program on time and budget.”

Drill Program

The 2021 winter drill program was designed to test the continuity of the ‘A’ Zone and ‘C’ Zone mineralization along strike and at depth, as well as a new structural geophysical target 500 m east of the ‘A’ Zone.

Eleven holes were drilled at and along the ‘A’ Zone structure. Drill hole GK20-032, which previously intersected 3.69 g/t Au over 2.31 m, was extended downhole an additional 40 m to 430 m. The objective was to establish the full extent of the ‘A’ Zone Deformation Zone, test for mineralization adjacent to the shear zone in the hanging wall, as well as accurately locate GK21-039 and GK21-040.

Drilling planned for the ‘C’ Zone was reduced from two diamond drill holes to one in order to allow for more metres to be drilled at the ‘A’ Zone. The ‘C’ Zone drill hole tested the continuity of the mineralized trend identified in the Company’s fall 2020 drill program.

About Warrior Gold Inc.

Warrior Gold is a TSX Venture Exchange-listed company that owns the Goodfish-Kirana Property located five km from the town of Kirkland Lake, Ontario. The Property is located in the historic Kirkland Lake Gold Camp which is situated in the prolific Abitibi Greenstone Belt, recognized as one of the world’s highest grade greenstone belts with over 200 million ounces of gold produced to date.

The Goodfish-Kirana Property is 11.5 km long by roughly three km wide (34 km2) and contains three major structural trends: the east-west trending Kirana Deformation Zone; the northeast-trending Goodfish Deformation Zone; and the Victoria Creek Deformation Zone on the Sutton claims at the northeast side of the property. The Property contains numerous historical gold showings, as well as 18 historical pits and shafts.

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.

Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", “anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Company. Although Warrior Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Warrior Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Company’s Management Discussion and Analysis of the financial condition and results of operations for the year ended March 31, 2019 and the second quarter ended September 30, 2020, which are available at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Warrior Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

This press release does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this press release nor anything contained in it shall form the basis of any contract or commitment. In particular, this press release does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

Danièle Spethmann, P.Geo.
President & CEO
Warrior Gold Inc.
+1 647 344-3433
[email protected]

Daniel Rodriguez
Corporate Development
Warrior Gold Inc.
+1 604 353-4080
[email protected]

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