YWRLF - Dixie Gold Inc. Geophysical Interpretation Outlines High-Strain Setting and Prospective Geology at Red Lake Project
(TheNewswire)
Vancouver, British Columbia - TheNewswire - May 20, 2021 - Dixie Gold Inc. (TSX V :DG) (“ Dixie Gold ” or the“ Corporation” ) is pleased to provide an exploration update on its Red LakeProject in Ontario. The Corporation’s Red Lake Project is situatedadjacent to the Dixie Project being advanced by neighbouring GreatBear Resources Ltd.
“ We areexcited to share both our airborne geophysical results withshareholders and recent follow-on interpretive findings. Thegeophysical exploration program has greatly increased ourunderstanding of the Red Lake Project, including sufficient data tore-classify large portions of the project area as likely being ofmafic and felsic composition, which significantly enhances itsprospectivity when compared to what now appears to be a historicmischaracterization of its underlying rock assemblages. In addition,follow-up geophysical interpretation work has outlined an importanthigh-strain zone that we believe could be a prospective goldexploration corridor, particularly as that zone also containspreviously disclosed SGH gold-in-soil anomalies within itsboundaries ,” commented Ryan Kalt, CEO of DixieGold.
As part of Dixie Gold’s ongoing exploration efforts,the Corporation retained Martin St.-Pierre, P. Geoph. of St. PierreGeoconsultant Inc. for interpretative follow-up work on the 4,695line-km geophysical survey completed by Dixie Gold at its Red LakeProject during the fourth quarter of 2020 (see also news release,Dixie Gold Inc. Commences One of the Largest Airborne GeophysicalSurveys in History of Red Lake, dated October 1, 2020).
The completed geophysical survey has returned numerousareas of priority interest. Flown on 50-metre spacing, the geophysicalexploration work conducted by Dixie Gold has greatly increased themagnetic resolution of the geophysical data sets covering the project,particularly when contrasted against the historic, widely-spacedregional airborne surveys previously available. Follow-upinterpretative work performed on Dixie Gold’s airborne surveyresults has resulted in the definition of structural features that areconsidered conducive to gold mineralization.
Figure One: Dixie Gold Inc. – RedLake Project – 2020-Q4 Geophysical Survey Results
The expansive-spatial area covered by Dixie Gold’sRed Lake Project, which exceeds 25,000 ha, is in large part covered byoverburden that limits outcropping. This lack of outcropping resultedin limited historic exploration levels which in the view of theCorporation has left available a significant opportunity for Dixie Gold to apply modern-day explorationtechnologies and techniques to assess the area’s potential morethoroughly for gold mineralization, particularly given explorationsuccess in the area by neighbouring Great Bear Resources Ltd.
Geological maps for Dixie Gold’s Red Lake Projectarea have now been created by combining airborne geophysical data withknown surrounding basement geology. Main rock types are believed tobe intrusive, metamorphosed intrusive, mafic volcanic and felsicvolcanic assemblages. The interpretation of significant volcanic andfelsic rock suites within Dixie Gold’s project area is important ashistoric regional work appears to have incorrectly identified largeportions of underlying rock assemblages as granite-based, amischaracterization that appears to no longer be supported based onthe recent geophysical survey results and subsequent interpretativework.
The largest interpreted area of volcanic rock iscontained within the central and eastern portion of the Red LakeProject, and structural interpretation has defined a west-northwesttrend of dense faulting that is viewed as constituting a high-strainzone. Such zones are conducive to fluid migration that can in turnfacilitate gold mineralisation.
Figure Two: Dixie Gold Inc. – RedLake Project – Geophysical Survey Interpretation Summary
In addition, two of three gold-in-soil anomaliesdiscovered by Dixie Gold’s most recent SGH soil survey programcoincide with the location of the high-strain zone identified duringthe geophysical interpretation work (see also news release, Dixie GoldInc. Announces the Discovery of Multiple Gold-In-Soil Anomalies at RedLake Project, dated December 24, 2020).
The Corporation cautions that pastresults or discoveries on adjacent projects (i.e. Great Bear ResourcesDixie Project) may not necessarily be indicative as to the presence ofmineralization on the Corporation's project (i.e. 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 press release.
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.
ContactInfo:
Ryan Kalt
Chief Executive Officer
Dixie Gold Inc.
E. info@dixiegold.ca
Copyright (c) 2021 TheNewswire - All rights reserved.