GSKKF - Goldseek Announces 3D Model of Gold System at Beschefer Project
(TheNewswire)
Highlights:
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- 5,000-meter drill program underwayto infill and extend the known gold zones
- 3D model complete, which lays thefoundation for a maiden resource
September 2, 2021 - TheNewswire - London, Ontario - Goldseek Resources Inc. ( C NSX :GSK. CN ) (FSE:4KG) (OTC:GSKKF) (“Goldseek” orthe “ Company ”) is pleasedto announce the completion of the first 3D model of goldmineralization drilled to date at the Beschefer Project. The 3D modelvalidates the understanding of the geological model, build mainly byprevious owners and operators, and provides strong target support forthe 5,000-meter drill program currently underway. On March 3rd, 2021,the Company entered into an option agreement on the Beschefer Projectto earn 100% over 4 years from Wallbridge Mining Company Limited ( see news release dated March 3, 2021 )(“Wallbridge”).
Beschefer is a gold project with base metal potential located in theSelbaie district, about 175 km north of Rouyn-Noranda, Québec. Itbenefits from being positioned between Hecla’s Casa Berardi Mine andWallbridge’s advanced exploration Fenelon project, locatedrespectively 45km to the south-west and 30km to the north-east as thecrow flies.
Beschefer Gold Zone
The Project straddles a regional volcanic contact inside theBrouillan-Fenelon volcanic formation hosting the Beschefer gold zoneand a spatially associated intrusion system. A strong North-Westtrending ductile fault encloses the mineralization and its associatedalteration system completely. More specifically, gold values wereobtained in units combining specific alteration and deformationfeatures. Outer carbonate and inner feldspar-silica fine-grainreplacement affected by variable hematization are dominant parts of apolyphased alteration system.
Mineralized intervals show quartz-carbonate veinsnetworks and micro-fracturing. A small percentage of pyrite (1 to 5%)is generally associated with the mineralization. To date, theapparent structural controls link the gold mineralization to theorogenic model.
The mineralized structure can be interpreted according to a moderatelysouth dip plane which is also recognized by drilling over a strikelength of 1,000 meters and followed over a maximum dip length of about500 meters inside the Property limit.
Goldseek's President & CEO Jon Deluce states, “The 3D model isan important milestone for our technical team in line with our goal ofbeing a resource developer rather than only a grassroots explorer. Ourstrong understanding of the structural interpretations increases theCompany’s chances of success in our first 5,000-meter drill program,which is underway.”
Figure 1: 3D Plan view of theBeschefer Gold System, plunging plan view to the northeast. Leapfroggrade shells using inverse distance interpolation superimposed on 3Dmesh interpretation.
3D Modeling
Goldseek has assumed that the supplied drilling information representsthe Project's integral historical database with 95 holes collared onthe Property for a total of approximately 24,000 meters. The drillingazimuth of 340° used for most holes cuts the structureat a right angle. The spacing between holes is variable, rangingbetween 25 to 100 meters.
All previously reported drill results from the numerous goldintercepts were provided by the vendor. Representative results werepreviously communicated by Goldseek in a press release ( March 3 2021 ). Verification is underway toeventually integrate in whole or in part holes according to NI 43-101requirements. 50 composites were used to build themodel using a minimum cut-off grade of 1 g/t over more than 2 metresfor an average of 3.5 g/t over7 metres . The composite series includes 4intervals with results above 10 g/t over more than 2,8m metres . All resultswere intercepted between 80 and 100% from their true thickness.
The model developed is balanced between the manual interpretation ofthe gold-bearing structure, the hole-to-hole connectivity of compositegrades, and the extrapolation along the North-East trend. In greaterdetail, plan views and sections sets are cut at every 20 meters. A cross-section interpretation was first built using 2 metresminimum width composites showing a minimum grade of 1 g/t. Compositegrade was locally diluted by lower grade, but always clipped on thegold-bearing structure contact to generate more geometricalcontinuity. After the automatic meshing and corrections, the model wasvalidated by slicing following the plan, cross section andlongitudinal section views.
Figure 2: Angled Plan View Looking NE(580m) with Planned Drill Holes
About the Beschefer Project:
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- Advanced gold exploration project with significantnear-term resource potential, benefiting from a high density ofdrilling.
- Located in a favourable orogenic gold setting 45 kmnortheast of the Casa Berardi Mine and 30 km southwest ofWallbridge’s Fenelon Project.
- Highlights of the best historical intersectionsinclude 55.63 g/t gold over 5.57 metres in hole BE13-038 ( including 224 g/t over 1.23m ; 13.95 g/tover 0.68m and 13.70 g/t over 0.73m ), 13.07 g/t gold over 8.75metres in hole B12-014 ( including 58.5 g/t over 1.5m ), 3.56 g/t gold over28.4 metres in hole B14-006 ( including 7.42 g/t over 5.5m ), 10.28 g/t goldover 8.00 metres in hole B14-35 ( including 86.74 g/t over 0.60m ), and 12.40 g/t goldover 3.78 metres in hole B11-003. True width inthese sections vary between 89% and 99% of the interceptedwidth.
- The mineralization shows high-grade gold-bearingstructures hosted in a lower grade envelope. The associated structureand alteration system highlight the potential along the Beschefertrend as well as along parallel unexplored structures.
- Continuous large-scale gold-bearing structures areregionally known within the property environment, which is alsolocated in the vicinity of the polymetallic former Selbaie Mine. Thebase metal potential of the Property, even if historically recognized,was never explored.
Qualified Person
This press release was prepared by Martin Demers P.Geo,OGQ (#770), whois a qualified persons as defined under National Instrument 43-101,and who has reviewed and approved the technical information providedin this news release.
About Goldseek Resources Inc.
Goldseek Resources Inc. is a Canadian exploration company with aportfolio of assets in Ontario and Quebec, Canada. By identifying sixprojects in world-class mining locations, Goldseek is poised todeliver shareholder value through rigorous exploration and developmenton these properties. Our mission is to find the next major discoveryin the mining camps of Urban Barry, Quevillon, Val D’Or, and DetourGold Trend in Quebec and Hemlo in Ontario.
ON BEHALF OF THE BOARD
Jonathon Deluce
Chief Executive Officer
Telephone: 226-271-5170
For more information, pleasecontact:
Goldseek Resources Inc.
E-mail: goldseekresources@gmail.com
The reader is invited to visit Goldseek's web site https://www.goldseekresources.com/
Neither the Canadian SecuritiesExchange nor its Regulation Services Provider accepts responsibilityfor the adequacy or accuracy of this release.
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