YWRLF - Dixie Gold Inc. Commences 2021 Field Exploration at Red Lake Project; Retains Brian Atkinson P.Geo. and Ike Osman P.Geo.
(TheNewswire)
Vancouver, British Columbia - TheNewswire - June 1, 2021 - Dixie Gold Inc. (TSX V :DG ) (“ DixieGold ” or the “ Corporation” ) ispleased to announce that it has commenced its 2021 field explorationat the Red Lake Project located near Red Lake, Ontario. Through itsRed Lake Project, Dixie Gold controls and is advancing a largedistrict-scale gold exploration project currently covering 25,269 ha(>60,000 acres) which is situated immediately adjacent andcontiguous to the Dixie Project being advanced by neighbouringexploration company Great Bear Resources Ltd.
Figure One: Dixie Gold Inc. – RedLake Project Map
During 2020, and despite restrictions related toCOVID-19, Dixie Gold performed significant exploration work at its RedLake Project and successfully executed multiple exploration programstotaling approximately $400,000 of expenditures, all of which wassuccessfully completed without incurring shareholder dilution.Highlights included one of the largest airborne surveys ever performedin the Red Lake gold camp (see news release, Dixie Gold Inc. CommencesOne of the Largest Airborne Geophysical Surveys in History of RedLake, dated October 1, 2020) and a large-scale multi-thousand SGH soilsample program (see news release, Dixie Gold Inc. Announces theDiscovery of Multiple Gold-in-Soil Anomalies at Red Lake Project,dated December 24, 2020). The steady and paced progression of itsexploration approach has enabled Dixie Gold to methodically advancewhat it views as a significant gold exploration opportunity at its Red Lake Project while remaining attentive to its exceptional capital structure (asat this news release, 25,737,188 shares issuedand 26,993,438 shares on a fully diluted basis ).
Initial exploration planning for the 2021 field seasonhas been guided by the significant gold-in-soil anomalies identifiedby the results from Dixie Gold’s inaugural field season at the RedLake Project. Follow-on geophysical interpretative work performedearlier this year confirmed that the location of the previouslyreported gold-in-soil anomalies correspond with interpretated magneticbreaks, (see news release, Dixie Gold Inc. Geophysical InterpretationOutlines High-Strain Setting and Prospective Geology at Red LakeProject, dated May 20, 2021):
Figure 2: Dixie Gold Inc. – RedLake Project – Geophysical Data and Interpretative Findings
Magnetic data at the Red Lake Project is dominated bywest-northwest trending magnetic linear features that parallel thetrends of the presently defined LP Fault deformation zone on theadjacent property held by Great Bear Resources Ltd. As outlined byDixie Gold and its retained geological experts, there is a high degreeof faulting in various directions within the Corporation’s Red LakeProject, which in turn may offer excellent prospective structuraltraps for gold mineralisation.
Structural Mapping Program
To further the advancement of its corporate-focus RedLake Project, Dixie Gold is pleased to report that it has nowcommenced an intensive, in-field geological mapping program, with theobjective being to follow-up on results from its 2020 exploration,including the evaluation of newly discovered geophysical structuresand its discovery of gold-in-soil SGH survey anomalies. The structuralmapping team will focus on both the west-northwest structures, as wellas the cross-cutting faults and intersections to progress DixieGold’s ground-exploration for vectoring in on potential goldmineralization. The Corporation believes that the methodologicallayering-in and performance of pre-drill exploration techniques that collectively supply the most comprehensivetarget-generative geological dataset will best augment the potentialand efficacy of any potential follow-on drill-programs.
In relation to the 2021 structural mapping program,Dixie Gold is pleased to advise that it has engaged two seniorexploration geologists, Brian Atkinson P.Geo. and Ike Osman P.Geo. tooversee and perform the field exploration.
Brian Atkinson, P.Geo. was the Government ofOntario’s Resident Geologist for the Red Lake District for 13 yearsand the Timmins District for 17 years. His knowledge of gold settingsand exploration techniques in both gold camps is extensive. As theResident Geologist, he completed property visits to variousexploration sites within Dixie Gold’s region of focus and had accessto materials that companies were using to locate new goldmineralization.
Ike Osmani, P.Geo. has been in the exploration businessfor 35 years. He has performed exploration around the world for miningindustry clients, including numerous mapping and diamond drillprograms within the Red Lake region. Mr. Osmani has also worked withinthe Ontario Geological Survey managing township and belt-scale mappingprojects. He has also worked in the past to map and define geologicalenvironments that have limited mapping and low outcropsettings.
Dixie Gold is looking forward to further updating itsshareholders with regards to the Red Lake Project once thenow-underway field work is complete and the results have beencompiled.
The Corporation cautions that pastresults or discoveries on adjacent projects (e.g. Great Bear ResourcesDixie Project) may not necessarily be indicative as to the presence ofmineralization on the Corporation's project (e.g. Dixie Gold’s RedLake Project).
Qualified Person:
Mr. Garry Clark, P. Geo., of Clark ExplorationConsulting, is the “Qualified Person” as defined in NI 43-101, whohas reviewed and approved the technical content in this pressrelease.
About Dixie GoldInc.
Dixie Gold Inc. (TSXV:DG) is a publicly-tradedexploration company involved in a diverse portfolio of high-impactexploration projects in Canada.
The Company has 25,737,188 common shares issued, withno warrants outstanding.
For more information, please visit www.dixiegold.ca
Signed,
Ryan Kalt
Chief Executive Officer
Dixie Gold Inc.
Forward-Looking Statements
This news release contains forward-looking statements.Forward-looking statements address future events and conditions andtherefore, involve inherent risks and uncertainties. Actual resultsmay differ materially from those currently expected or forecast insuch statements.
Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of thisrelease.
Contact Info:
Ryan Kalt
Chief Executive Officer
Dixie Gold Inc.
E. info@dixiegold.ca
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