New gold discovery for Stelmine in the eastern James Bay region
Québec, April 11, 2018– Stelmine Canada (« Stelmine ») (STH-TSXV). Stelmine announces a new gold discovery on its Trieste property and follows its commitment to acquire properties within the more prospective gold-bearing terranes exposed in Quebec near the boundary between the La Grande and Opinica subprovinces. The Company has nearly doubled the area of its Trieste property following the positive results obtained on its Courcy flagship property in conjunction with the analytical results received in 2017 on the Trieste property which indicate gold mineralization representing a new discovery.
« Despite a short one day excursion completed by helicopter on Trieste, we were pleasantly surprised to discover gold-bearing iron formations. It became clear to us it was imperative to preserve this potential asset for Stelmine and increase its area » says Stelmine’s president, Isabelle Proulx.
The Company has acquired 81 new claims encompassing slivers of greenstone belts located in the eastern La Grande subprovince in the James Bay region. The Trieste property now spans an area of 66.6 km2 distributed in 129 claims.
A visit to the Trieste property by our geologists allowed the identification of folded bands of magnetic iron formations (oxide facies) intercalated with metasediments and mafic metavolcanic layers. The iron formations contain magnetite and sulphides (pyrite, pyrrhotite, arsenopyrite and chalcopyrite) and is crosscut by sulphide-bearing quartz veins. A composite sample of mineralized wallrocks near the banded iron formations revealed gold and arsenic values of 1.10 g/t and 8350 ppm respectively.
« The results coming from the Trieste property integrated with those from the Courcy project open great perspectives relative to the development of a new zone with strong gold potential in Quebec. Stelmines strives to become the leader in this new exploration sector. » reiterates Isabelle Proulx.
Stelmine will implement a more thorough exploration campaign of the entire Trieste property during the summer 2018, including geological and structural mapping and rock sampling.
The technical contents of this release were approved by Michel Boily, PhD, geo; a Qualified Person (QP) as defined by National Instrument 43-101.
Stelmine is a junior mining exploration company which concentrates its activities in the Province of Québec. Stelmine holds 838 claims spanning 583 km2 on the eastern part of the Opinaca metasedimentary basin, which contains zones with a high potential for gold deposit discovery in geological contexts similar to the one leading to discovery of the Éléonore Mine. Its capital stock consists of 23,680,645 issued and outstanding shares for a current market capitalization of $3.9 million.
The statements set forth in this press release, which describes Stelmine’s objectives, projections, estimates, expectations or forecasts, may constitute forward-looking statements within the meaning of security legislation. Positive or negative verbs such as “believe”, “can”, “shall”, “intend”, “expect”, “estimate”, “assume” and other related expressions are used to identify such statements. Stelmine wishes to state that, by their very nature, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated or underlying these statements or could have an impact on the degree of realization of a particular projection. Major factors that may lead to a material difference between Stelmine’s actual results and the projections or expectations set forth in the forward-looking statement include the risk that the Company does not complete the Placement as anticipated, and such other risks as described in detail from time to time in the reports filed by Stelmine with security authorities in Canada. Unless otherwise required by applicable securities laws, Stelmine disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of the new information, future events or otherwise. The forward-looking information in this release is based on information available as of the date of this release.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. .
For more information :
President and CEO
- Significant gold values extending over more than one km for Stelmine
- Stelmine announces the results of its annual meeting of Shareholders
- Gold mineralization associated with a major fault extending 21 km at Courcy
- Stelmine initiates new exploration work
- Stelmine completes the second tranche of a private placement of $1,305,500
- Suzanne Piché investit dans Stelmine Canada Ltée (règles du système d’alerte) (En français seulement)
- Stelmine completes the first $496,000 tranche of a private placement with investors including institutional fund
- Stelmine initiates a new exploration campaign on its Courcy flagship property
- MOMENTUM PR ADDS STELMINE TO ITS PORTFOLIO OF JUNIOR MINING COMPANIES
- Another gold discovery for Stelmine in the James Bay Area
- February 2019 (1)
- January 2019 (1)
- November 2018 (1)
- September 2018 (1)
- July 2018 (2)
- June 2018 (2)
- May 2018 (1)
- April 2018 (3)
- February 2018 (1)
- January 2018 (1)
- December 2017 (2)
- October 2017 (2)
- September 2017 (1)
- August 2017 (1)
- June 2017 (3)
- May 2017 (1)
- April 2017 (1)
- February 2017 (3)
- January 2017 (2)
- December 2016 (3)
- November 2016 (2)
- September 2016 (1)
- July 2016 (6)
- June 2016 (1)
- January 2014 (1)
- June 2012 (2)
- February 2012 (1)
- December 2011 (1)
- February 2011 (1)
- December 2010 (1)
- December 2009 (2)
- October 2009 (1)
- June 2009 (1)
- April 2009 (1)
- June 2008 (1)
- December 2007 (1)
- January 2007 (1)