Stelmine initiates a new exploration campaign on its Joubert gold property
Québec, August 19, 2020-Stelmine Canada (“Stelmine”) (STH-TSXV) is pleased to reveal the start of its exploration campaign on the Joubert gold property. The property is located in the la Grande Sub-province near the contact with the metasedimentary Opinaca Sub-province
Objectives of the 2020 exploration campaign
- The target of the 2020 exploration campaign will be on the new northeastern extension of the property containing a significant gold value of 6.81 g/t.
- Stelmine will explore in more details the new claims carrying out geological mapping, overburden stripping followed by channel sampling on mineralized sites. Till samples will be also collected.
- The duration of the work is 7 to 10 days
The Joubert property is composed of 247 claims totaling 128 km2, 100% owned by Stelmine. It is situated 55 km northeast of the Renard diamond mine that can be reached via Road 167. The property exposes a lithological package of metasedimentary rocks composed of sillimanite-cordierite paragneiss, migmatized paragneiss (Solomon Formation) in contact with basaltic metavolcanic rocks, occasionally pillowed (Trieste formation, and intruded by ultramafic plutons and foliated tonalites-granodiorites.
- Previous work completed by Stelmine in 2018 and 2019 lead to the discovery of a gold showing yielding 6.81 g/t Au value from a grab rock sample collected in the western extension of the Joubert mineralized zone. This discovery adds to the 0.83 g/t on 1.5 m and 1.10 g/t on 0.25 m concentrations provided by channel samples collected 20 m from the main gold showing unearthed by Virginia Gold in 1997 (4.69 g/t et 0.48 g/t Au).
Isabelle Proulx, President and CEO of Stelmine declares: “This new exploration phase on Joubert is designed to increase and better define a gold corridor already extending over a few kilometers. The geological and structural context bodes well for the discovery of new mineralization”.
The technical contents of this release were approved by Michel Boily, PhD, geo; a Qualified Person (QP) as defined by National Instrument 43-101.
The Company wishes to acknowledge the departure of Mrs. Julie Lemieux who fulfilled the position of CFO since February 2019. The Company is particularly grateful of his dedication, implication and meticulous work beneficial to the Company since April 2018. The management and employees whish Mrs. Lemieux great success in future endeavors.
Stelmine is a junior mining exploration company which concentrates its activities in the Province of Québec. Stelmine holds 843 claims spanning 438 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 Eleonore Mine. Its capital stock consists of 37,324,046 issued and outstanding shares.
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be”, “expected” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the listing and trading of the Corporation’s common shares on the TSX and the availability of a listing statement on the TSX’s website and on SEDAR are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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