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Vancouver, British Columbia, September 14, 2020 – Red Lake Gold Inc. (CSE: RGLD)(FWB:P11)(“Red Lake Gold” or the "Corporation") is pleased to announce that it has contracted Precision GeoSurveys Inc. of Langley, British Columbia to perform a large-scale, high-resolution aeromagnetic survey at its Whirlwind Jack Gold Project situated near Red Lake, Ontario.
“The geophysical exploration work last year enabled Red Lake Gold to establish that our Whirlwind Jack Gold Project was host to at least 12 kilometres of the LP Fault structure starting at our contiguous mining claim boundary with Great Bear Resources (whose adjacent Dixie gold project hosts 18 kilometres of the LP Fault structure fully-measured). With Red Lake Gold having already commenced ground exploration this summer inside our first 12 km coverage zone of the LP Fault structure at Whirlwind Jack, our clear objective with this large-scale upcoming geophysical survey is to determine the extent of LP Fault coverage across the remainder of the project. This work will help guide our exploration through the balance of 2020 and into what will be an exciting year ahead for Red Lake Gold. Of importance, our geophysical exploration last fall showed the LP Fault extending from our claim boundary with Great Bear Resources all the way to the limit of the flown survey boundary at Whirlwind Jack. We believe this program will help Red Lake Gold establish that the Whirlwind Jack Gold Project indeed hosts more than the 12km of LP Fault structure identified to-date,” stated Ryan Kalt, Chief Executive Officer of Red Lake Gold.
Upon completion of the planned phase II mag survey, the total line-kilometre geophysical coverage performed by Red Lake Gold on its Whirlwind Jack Gold Project (Red Lake, Ontario) would increase from 2,045 line-kilometers to 4,760 line-kilometers (all contemporaneously performed in a rolling 12-month period). The expanded magnetic survey coverage area would stand Red Lake Gold’s Whirlwind Jack Gold Project as one of the largest beneficiaries of modern-day, high-resolution geophysical data when compared to any other gold exploration project in the immediate area.
Red Lake Gold’s Whirlwind Jack Gold Project is adjacent to and geologically along-strike of the Dixie Gold Project being advanced by neighbouring gold exploration company Great Bear Resources Ltd. For additional information on the Whirlwind Jack Gold Project, please visit:
Upcoming Fall 2020 Geophysical Survey Details
The fall survey is planned to cover 2,715 line-kilometers on a 50m spacing basis. The heli-borne airborne survey will be flown in a systematic low-level grid pattern and will cover the majority of the Whirlwind Jack Gold Project, area of which has not been previously flown by Red Lake Gold. The survey will commence at the completion point of the geophysical survey performed last fall (see news release, Red Lake Gold Inc. Commences 2,045 Line KM High-Resolution Aeromagnetic Survey at Whirlwind Jack Gold Project, dated November 8, 2019). The upcoming survey will target coverage over 123.4 km2 of the district-scale 211.8 km2 Whirlwind Jack Gold Project.
The mag survey will utilize four Scintrex CS-3 cesium vapor magnetometer sensors; in a custom-designed non-magnetic and non-conductive survey bird for triaxial gradient and total magnetic intensity measurements. Compared to conventional single-sensor survey systems, this design allows for direct measurement of the magnetic gradient in the X, Y and Z axes with four magnetic sensors rather than calculating the gradient from one sensor. This eliminates aircraft-induced noise and will provide more structural detail, especially for near-surface targets, without compromising the total magnetic intensity.
The airborne survey is planned to be flown at a nominal flight height of 40m above ground, plus/minus allocated variances.
The Corporation cautions that past results or discoveries on the adjacent property (e.g. Great Bear Resources’ Dixie Gold Project) may not necessarily be indicative as to the presence of mineralization on the Corporation's property (e.g. Red Lake Gold’s Whirlwind Jack Gold Project).
Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the “Qualified Person” as defined in NI 43-101, who has reviewed and approved the technical content in this press release.
On Behalf of the Board of Directors
Chairman & Chief Executive Officer
This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast in such statements.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.
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