VANCOUVER, B.C., November 7, 2022 – Relevant Gold Corp. (CSE:RGC) (the “Company” or “Relevant Gold”) is pleased to announce successful completion of the 2022 field-based exploration on its 15,095-hectare South Pass Gold Field, Wyoming properties. Highlights include: (1) Discovery of 13 new prospective orogenic shear structures totaling over 15 km of strike length, and (2) Completion of a 3,478 metre (m) diamond core drilling program on its Golden Buffalo project., located approximately 10 kilometres (km) east of the historic Atlantic City/South Pass City gold mining district in Fremont County, WY, USA. Assays are pending and expected in early 2023 based on expected lab processing times.
Relevant Gold also completed a mapping and rock chip sampling program at the Company’s Golden Buffalo, Windy Flats, and Shield-Carissa project areas (Figure 1). Assays are pending. The mapping and sampling program identified 13 new prospective orogenic shear structures for a total composite strike length of 15.5 km of new quartz vein-rich shear zones, expanding the Company’s portfolio of quality targets across its large land package. This mapping work identified numerous geologic features consistent with orogenic shear-hosted gold terranes observed in the Abitibi and other Archean gold belts globally, advancing the Company’s overarching thesis that connects Wyoming to the Abitibi during the time of gold mineralization.
“We are very excited to have discovered 15 kilometres of previously unrecognized regional-scale shear zones laced with the kind of abundant quartz veining we look for in shear-hosted, or orogenic, gold systems and look forward to incorporating these intriguing new zones into next year’s exploration and drill planning,” stated Rob Bergmann, Relevant Gold CEO. “We are also very pleased to have safely completed our inaugural drilling campaign and eagerly anticipate the assay results.”
The focus of all regional field work to date by Relevant Gold in the South Pass granite-greenstone terrane has been on deciphering the geology, structural architecture, and potential for orogenic gold mineralization within the Archean supracrustal rocks of the South Pass granite-greenstone terrane. Based on the Company’s underlying thesis connecting Wyoming to the well-known Abitibi Terrane, this work continues to check the key criteria for orogenic shear-hosted opportunities of scale.
Relevant Gold mobilized a drill rig on July 15, 2022, to undertake a 4,000 m diamond drilling program specifically designed to test the Golden Buffalo Shear Zone (GBSZ) and related surface mineralization at depth and along strike, as well as test for parallel shear zones north of GBSZ identified via 2021 surface mapping. The 20 m wide anastomosing GBSZ was first excavated in 2020 by the previous operator, Golden Buffalo Mining (GBM), where GBM exposed and reportedly excavated approximately 400+ ounces of high-grade gold mineralization, including visible coarse (bonanza style) gold, out of the quartz vein rich GBSZ.
The Company completed 26 holes for a total of 3,478m of both HQ and PQ oriented diamond core drilling (figure 2) aimed at supplying the Company with subsurface data necessary for vectoring towards an opportunity of scale. Early inclement weather caused the Company to finish the drilling just short of the targeted 4,000 m. Relevant Gold’s technical team will focus on analyzing and compiling the drill core data as the Company awaits final lab results.
The Golden Buffalo Shear Zone (GBSZ) was explored in detail in 2022 through mapping (1:200 scale) and sampling of several newly excavated North-South (73 m) and East-West (32 m) oriented trenches that exposed the 20 m wide shear zone and revealed several thin (<0.25 m) oxidized hematitic quartz veins with visible gold. Also exposed were important stratigraphic contacts between newly identified sub-units of the regional host-Miner’s Delight Formation (figure 3). Detailed mapping and sampling of both new N-S and new and existing E-W trenches continues to refine the Company’s understanding of surface mineralization, alteration, and structural controls at the Golden Buffalo project and informs our observations of the drill core.
About Relevant Gold Corp.
Relevant Gold Corp. is a North American gold exploration company founded by experienced exploration geologists and operated by a highly respected team with a proven record of significant value creation for shareholders. Relevant Gold is focused on the acquisition, exploration, discovery, and development of district-scale gold projects in the state of Wyoming – one of the most mining friendly jurisdictions in the United States and globally.
On behalf of Relevant Gold Corp.,
Rob Bergmann, Chief Executive Officer
More information
For further information about Relevant Gold Corp. or this news release, please visit our website at www.relevantgoldcorp.com or contact Rob Bergmann, President and CEO, or Kristopher Jensen, Manager of Investor Relations, at 763-760-4886 or by email at ir@relevantgoldcorp.com.
Cautionary Note Regarding Forward-Looking Statements and Historical Information
This news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws. These statements relate to future events of Relevant Gold Corp. (“Relevant” or “Relevant Gold” or “the Company”). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “outlook” and similar expressions) are not statements of historical fact and may be forward looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company’s estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the company’s projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
The scientific and technical contents of this release have been approved by Mr. Brian C. Lentz, CPG #11999, Chief Exploration Officer of the Company, who is a “Qualified Person” as defined by Canadian National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Lentz is not independent of the Company.