VANCOUVER, British Columbia, June 08, 2022 (GLOBE NEWSWIRE) — Trillium Gold Mines Inc. (TSXV:TGM, OTCQX:TGLDF, FRA:0702) (“Trillium Gold” or the “Company”) is pleased to announce that it has commenced a comprehensive exploration program on the newly-consolidated Confederation Belt Project (the “Project”). Several separately held properties have now been consolidated into one 54,362-hectare, contiguous land package spanning 72 kilometres east to west (Figure 1).
The Confederation Project is now positioned as the most significant exploration project in the Red Lake District with potential to contain further Dixie LP Fault analogues, other Red Lake-style gold mineralization and critical minerals. Work has already begun on the project and other crews are currently mobilizing.
Early Exploration permit applications for drilling and trenching have been initiated and are expected to be received in early summer 2022. Trillium has an initial 6,000 metres of drilling planned throughout the Project area on targets that have been systematically researched, prioritized and deemed drill ready. Further drilling may be considered as results from the exploration work are received.
Some important attributes of the property include:
- Over 110 linear kilometres along the eastern extensions of both the major crustal Red Lake and Dixie LP Fault structures.
- Several high-potential mafic-to-felsic structural contacts on-strike to the east of the Kinross Dixie Project associated with the eastern continuation of the LP fault zone.
- The Panama Lake portion of the property shows gold potential in three identified zones while further compilation work has identified other structural and lithological dislocations that warrant priority follow-up work.
- Other high-potential areas to be tested along the northern margin of the Project area, associated with the major structure hosting Evolution Mining’s Red Lake Operations.
- Demonstrated gold and historic base-metal deposits; importantly, strategic metal occurrences will be additional target elements for exploration in 2022.
- Comprehensive data collection, compilation and interpretation have generated many gold and base-metal targets for follow-up in the 2022 exploration program.
Russell Starr, President and CEO of Trillium Gold commented, “Our strategy to consolidate the Confederation belt properties has positioned Trillium Gold as the dominant exploration company in the Red Lake District today. Many former VMS-rich districts are well endowed with gold, and the Dixie LP Fault deposit, lying on the same stratigraphic trend as Trillium’s contiguous claim block, is possibly another example. A large portion of the property is accessible via long-standing logging roads. We believe we are at the nexus of a new era in this rapidly developing gold camp.”
William Paterson, Trillium Gold’s Vice President of Exploration added, “Our geological team has now begun the exploration work with reconnaissance traverses, drill hole sighting and ground-truthing of work performed by previous operators. We have an unprecedented opportunity to explore for LP Fault-type gold deposits along a structure that is many times larger and equally as prospective as Dixie.”
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ecb7eb64-486b-4305-9487-d09532cbc22b
Figure 1: Trillium Gold’s Confederation Belt Project showing areas of focus for 2022 and planned activities, selected 2021 exploration results, and major structures (some interpreted). Geology from Geological Survey of Canada.
Throughout the Confederation Belt property, work will be performed to follow up on the high priority SGH anomalies from 2021. This planned work includes further soil sampling, lithogeochemical sampling and assaying of historical drill holes that were never previously assayed for gold (this is a very cost-effective activity where historical base-metal focused drilling has already been performed in those areas identified as having high gold potential). Systematic prospecting and mapping programs across the Project area are designed to explore for new deposits and further follow up on results from the 2021 field work (Figure 1).
Geology & Mineral Potential
The geology throughout the Project area shows several features key to gold mineralization: felsic-intermediate volcanic and volcaniclastic rocks, mafic to felsic transitions, iron formations and chemical sediments, unconformities, large regional structures with known association to gold mineralization (e.g. the Dixie Project and Red Lake Mine), and, locally, on lower-order structures, complex structurally prepared ground that focus fluid flows and develop mineral deposits.
The Company’s exploration work and results from 2021 combined with exhaustive compilation work of historical data recently acquired, have identified several prospective areas hosting a variety of styles of gold targets including elevated gold content coincident with volcanogenic massive sulphide alteration halos. Often these halos are associated with structures and prospective lithology, suggesting the possibility of a later-stage gold enrichment mechanism or hybrid-style signatures.
A key area of focus will be the recently acquired Wenasaga Property, spatially associated with a dilation zone identified on the LP Fault extension. This deep-rooted structure would provide a conduit for gold-bearing fluids and the dilation zone creates the conditions for this gold to be deposited, whether rheological or chemically through widespread alteration. Preliminary work has already begun on this portion of the property.
Further east, the Panama Property contains two highly prospective gold-mineralized trends that remain largely untested. Major structures that transect the property appear to be splays from or are the eastern extension of the Dixie LP Fault. There are multiple gold and VMS-style mineralization occurrences identified on the property and a field program has been designed to expand on and evaluate the lateral continuity of these mineralized trends.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/368f1f5b-1b8a-41a8-93b8-ffd49308b86a
Figure 2: Trillium Gold’s Confederation Belt, Satterly Lake and Swain Lake Projects with major faults shown (some interpreted). Geology from Geological Survey of Canada.
Satterly Lake and Swain Lake
These properties, located approximately 20 km and 35 km northeast of the Confederation Project and 90 km east of Red Lake, host structural, lithological and geophysical features important to gold mineralization (Figure 2). Initial field work will be performed on these projects utilizing floatplane-supported remote camps and will consist of prospecting and sampling. Historically, there has been little ground-based work performed on these properties. Trillium flew a high resolution helimagnetic survey over the then-current Satterly Lake property in 2021.
The Satterly Lake property is relatively unexplored, but several mineral occurrences are documented in the area. The Hanson (Au) and Loydex (Cu/Zn) occurrences are found on the property, the past producing Sol D’Or Mine (ore grading 19.2 g/t Au) lies immediately west and Falcon Gold’s Springpole West property to the east, with a diamond drill hole intercept of 19.4 g/t Au over 30cm within a property-wide fault zone hosted in a quartz vein-stockwork system.
The Swain Lake property encompasses a nine-kilometre stretch of the Swain Lake Deformation Zone (SLDF), over a gentle flexure point where the strike changes from a northeast trend to more easterly. Numerous gold occurrences are documented along the strike of this regional-scale structure. The property is located 8 km northwest of First Mining’s Springpole Lake property, which is reported as one of the largest undeveloped gold projects in Canada (Preliminary Economic Assessment, completed in November 2019, reported an Indicated Resource of 4,670,000 oz of gold and 24,190,000 oz of silver).
Within a six-kilometre radius of the Swain Lake property there lies the Argosy Mine (101,875 oz Au produced), the Richardson Lake Mine (1,126 oz of gold produced grading 60.7 g/t Au with an unclassified historical resource of 140,051 oz Au published in the Northern Miner [June 20, 1988]), the MacIntyre Mine reported to have produced 23 oz of gold in 1934-35 and First Mining’s Horseshoe Island prospect with a historical unclassified resource of 125,093 oz Au (OGS MDI record 52N08NW00020).
The technical information presented in this news release has been reviewed and approved by William Paterson QP, P.Geo, Vice President of Exploration of Trillium Gold Mines, as defined by NI 43-101.
On behalf of the Board of Directors,
Trillium Gold Mines Inc.
Interim Chairman, President & CEO
For further information, please contact Donna Yoshimatsu, VP Corporate Development and Investor Relations at [email protected], (416) 722-2456, or [email protected].
Visit our website at www.trilliumgold.com.
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a growth focused company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. As part of its regional-scale consolidation strategy, the Company has assembled the largest prospective land package in and around the Red Lake mining district in proximity to major mines and deposits, along the Confederation Lake and Birch-Uchi greenstone belts. Recently, the Company signed a definitive agreement for control over a significant portion of the Confederation Lake greenstone belt to more than 100 km in length. In addition, the Company has interests in highly prospective properties in Larder Lake, Ontario.
Neither 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.
Cautionary note regarding forward-looking statements
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations.
Forward-looking information is based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Such factors, among others, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.