Mistango Announces Expanded Phase 2 Drill Program at the Kirkland West Gold Project
TORONTO, July 26, 2021 /CNW/ - Mistango River Resources Inc. ("Mistango" or the "Company") (CSE: MIS) is pleased to provide an update on plans to resume drilling on its 100%-owned Kirkland West Project, near Kirkland Lake, Ontario. With the completion of a $60 million strategic partnership with Kirkland Lake Gold ("KL Gold"), the Company is pleased to announce the expanded exploration program set to resume in late Q3 2021.
"Working closely with KL Gold, our exploration team is excited to resume and expand the existing drill program at Kirkland Lake West. Leveraging KL Gold's technical expertise and financial resources to fund the program, the Company remains focused on testing a variety of highly-prospective target areas with the objective of making a discovery within a world-class gold camp", said Stephen Stewart, Mistango's Chairman.
About Kirkland West's Phase 2 Program
The exploration plan developed by the Mistango and Kirkland Lake Gold technical teams will involve 3-D modeling of available geophysical, principally aeromagnetic data. The resulting models will form the basis for an updated interpretation of the geological structure of the Baldwin Zone. The partners intend to combine the updated structural interpretation with geophysical products and geological data to define high priority drill targets. The partners intend to complete the remaining 3,000 metres of the Phase 1 program and commence a Phase 2 drill program which includes a further 2,000 metres. Drilling is expected to resume by the end of Q3 2021.
Phase 1's 10,000 metre Kirkland West exploration drilling program was temporarily delayed in late April due to difficult ground conditions related to the annual spring thaw. Approximately, 7,000 metres of drilling, representing 18 drill holes, had been completed at that time (News Release dated May 4, 2021).
Further Technical Detail on Phase 1
Additional information on the Kirkland West Gold Project can be found here. Exploration drilling was focused on the Baldwin Zone where widely spaced drill holes are planned as part of a greenfields exploration program. The program seeks to test for potential mineralization hosted by structural domains that would be similar to, or extensions of, mineralized structures within the Kirkland Lake gold mining camp. The Company believes these may include the extension or continuation of known structures at the Macassa mine which is situated a few thousand metres to the East of the Baldwin Zone. While the Company notes that all 18 holes completed to-date have intersected structural zones, no significant gold mineralization has yet been identified. A total of 4,949 samples have so far been submitted for assay and results for 267 of the submitted samples are pending representing about 5% of the total submitted.
About the Kirkland West Project
The Kirkland West Project is adjacent to Kirkland Lake Gold's (KL:TSX) Macassa Mine and includes two main zones, the Baldwin Zone and the Eby Zone that are distinguished by different geological settings. The Baldwin Zone includes land holdings in the western Teck, Grenfell and Eby townships and share a similar geological setting with the Kirkland Lake mining camp. The Eby Zone is 3 km to the southwest within Eby township and features a differentiated and highly prospective geological setting.
QP Statement
The technical information contained in this news release has been reviewed and approved by Dr. Keith Benn, P.Geo., Vice President Exploration for Mistango, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
About Mistango River Resources Inc.
Mistango is a Canadian-based exploration and development company focused on its Kirkland Lake West and Omega projects in the Kirkland Lake District of Ontario's Abitibi Greenstone Belt. The Company is listed on the Canadian Securities Exchange (CSE) under the symbol MIS.
Neither Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Mistango assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Mistango. Additional information identifying risks and uncertainties is contained in filings by Mistango with Canadian securities regulators, which filings are available under Mistango profile at www.sedar.com.
SOURCE Mistango River Resources Inc.
To Speak to the Company directly, please contact: Stephen Stewart, Director, Phone: 416.644.1567, Email: [email protected], www.Mistango.com
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