GOCOF - Go Metals Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - March 12, 2020) - Go Metals Corp. (CSE: GOCO) ("Go Metals" and/or the "Company") is pleased to update on developments as the company continues to focus on polymetallic projects in Canada.
The results of our geological and geophysical work on our 100% owned Monster IOCG project indicate clear drill targets. We believe the Monster has world-class potential. In addition to that, the Monster is located in the Yukon Territory and the traditional territory of the Tr'ondëk Hwëch'in, which both have favourable attitudes towards responsible exploration and mining.
Two separate targets on the Monster Property are now drill-ready. The Beast target is an offset gravity and magnetic high which we believe to be evidence for a redox front in the form of a transition between magnetite and hematite. The Beast target has a depth to top of about 70 - 100m. Chemical alteration vectors increase towards the target, further highlighting its potential. The Bloom target, several kilometers east of the Beast target, is focused on a positive gravity anomaly that overlaps a positive magnetic anomaly. The Bloom target is confirmed by several mineralized showings that grade up to 9.6% Co, 1.2 g/t Au and >1% Cu.
The final gravity processing has been completed and reaffirms the Bloom and Beast target. Results of 28 rock samples that were analyzed for geophysical properties as well as geochemistry indicate a moderate correlation between gravity and mineralization, highlighting the potential of positive gravity anomalies to be indicative of buried mineralization. The geochemical results were also encouraging, as the highest gold value assayed was 3.4 g/t Au (n= 28 samples, average 0.185 g/t Au, 3 values over 100 ppb). This value further highlights the potential of the Monster to host a significant amount of gold.
Go Metals has initiated discussions with the provincial and federal governments to encourage battery metal exploration in the Ogilvie Mountain range - indicated by surface metals like Copper, Cobalt, Gold, Silver and Zinc. The company is exploring the possibility of a joint magnetic and gravity survey to further aid our regional targeting of these elements.
The company has also started discussions to revive a winter road from the Dempster highway to the Monster claims. The road would also provide access the Olympic claims owned by Commander Resources and the Og Zinc claims owned by Shawn Ryan.
The company was an exhibitor at PDAC 2020 in Toronto and participated in Invest North events through the Yukon Mining Alliance (CEO Interview - https://youtu.be/a-C0H1KWEmw).
Go Metals has greatly benefited from its membership with the Yukon Mining Alliance. The Yukon Mining Alliance and Invest Canada North facilitate dialogue between first nations, the government, and the resource industry. Combined with the federal government extending tax write offs for Electric Vehicles there is a great environment for Go Metals to further battery metal projects in Canada.
Go Metals also continues to develop the 100% owned HSP Quebec Nickel PGE project. New EM survey results have highlighted great potential for summer targets at the property 90 km north of Havre-Saint-Pierre. The HSP area is underexplored for nickel despite having surficial massive to disseminated sulphides. HSP is polymetallic with high-grade nickel and copper with PGEs including Platinum and Palladium on the surface.
Qualified Person
Adrian Smith, P.Geo, is the qualified person for the Company as defined in the National Instrument NI43-101 and has reviewed the technical information presented in this news release.
About Go Metals:
Go Metals develops battery metal projects in Canada. The company approach is to rely on local talent and respect local territories while working both our 100% owned projects.
The Monster Property is a large IOCG property in Yukon, Canada and traditional territory of Tr'ondëk Hwëch'in. Mineralization on the claim is similar to the giant Olympic Dam IOCG-Co deposit. Since 2018 Go Metals has explored the Monster Property using geophysics, geological, and geochemical data.
The HSP nickel-copper PGE claim is north of Havre St Pierre in Eastern Quebec. The HSP claim is 100% owned and covers 55 km2. There are historical showings of up to 0.72% Ni, 2% Cu, 0.14% Co, 0.36 g/t Au, 147 ppb Pt and 220 ppt Pd. Reprocessing of historical magnetic and EM data has highlighted unexplored anomalies. The property is close to a well-maintained Quebec Hydro road.
For further information, please contact:
Scott Sheldon, President
Telephone: 604.725.1857
Email: scott@gometals.ca
Forward-Looking Information:
This press release may include "forward-looking information" (as that term is defined by Canadian securities legislation), concerning the Company's business. Forward-looking information is based on certain key expectations and assumptions made by the Company's management, including future plans for the exploration and development of its mineral properties. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.
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