GSKKF - Goldseek Announces 3D Modelling and Next Steps for Beschefer Project
(TheNewswire)
May 5th, 2021 - TheNewswire - London, Ontario - Goldseek Resources Inc. ( CSE:GSK. CN ) (FSE:4KG) (OTC:GSKKF) (“Goldseek” or the “ Company ”) is pleased to announce itsdevelopment strategy for the Beschefer Project, which is under a 100%earn-in agreement with Wallbridge Mining Company Limited ( see news release dated March3 rd , 2021 ). The best intersections on the Property include 55.63 g/t gold over 5.57 metres; 3.56 g/tgold over 28.4 metres; 10.28 g/t gold over 8.00 metres, and 12.40 g/tgold over 3.78 metres. True width in thesesections vary between 89% and 99% of the intercepted width.
Figure 1: Beschefer Inclined LongSection
*Modified based on a figurepublished by Wallbridge Mining Company Limited*
The current strategy to develop the Project includessix independent phases that will be advanced in preparation of ourmaiden drill program:
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1- An update of the 3D geologicalmodel is being completed to define resource building infill drillingand expansion exploration targets.
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2- A review of the historical datais being completed to ensure that all data is incorporated in theProject’s database and leveraged in our drill targeting.
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3- A review of the quality of thedata is currently underway. This includes verification of the dataquality regarding: hole positioning, deviation tests, geologicalobservation and data transcription into the database, sampling andcertificate transcription into the database, and an overall review ofthe QAQC. The objective of the verification is to determine if thedata quality is sufficient for resource calculation purposes.
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4- Approximately 17,000 meters ofhistorical core is located in Timmins. The Company has identified 500meters of unsampled core, which we believe could containmineralization and therefore will be subject to sampling. Some ofthe unsampled intersections are located between mineralized intervalsor between high-grade or low-grade gold values. The unsampledmaterial could add important information regarding possible extensionsof the mineralization near gold-bearing zones.
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5- Additionally, our technicalteam will review some parts of the core to describe the Project'sspecific intersections further to strengthen the geological model ofthe mineralization.
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6- Finally, the Company is alsoassessing access to the Property and will discuss with Projectstakeholders to ensure completion of the future work programs and toplan them accordingly.
Goldseek's President & CEO Jon Deluce states," We are excited to start exploration on theBeschefer Project, which has demonstrated size and grade potential.The data review and 3D modeling work will allow us to put the besttargets forward for our estimated 5,000-meter maiden drill program in2021 with our goal of a maiden resource in 2022. The B-14 Zone is alarge-scale structure located in a favorable orogenic gold settingwhich shows good continuity, consistent thickness, and hostshigh-grade mineralization. To date it has only been tested bywide-spaced historic drilling with holes 75-100 meters apart. Ourpreliminary drill strategy is a combination of infill and extensiondrilling with the top priority target being the high-grade gold zone( 55.63 g/t gold over 5.57metres ) which we believe is open to thenorth-east.”
The Beschefer Project covers approximately 962 acresand is located in the Northern Abitibi Greenstone Belt, 14 km east ofthe past-producing polymetallic Selbaie Mine, 45 km northeast of theCasa Berardi Mine and 30 kilometres from Wallbridge’s Fenelon GoldProject. Historically, the area has mainly been explored forvolcanogenic massive sulfide deposits similar to the Matagami camp andthe Selbaie Mine.
Gold mineralization was discovered in the B-14 Zone in1995 by Billiton Canada Inc. and the Beschefer Project saw verylimited exploration before the involvement by Excellon in 2011, whichcompleted approximately 17,000 metres of drilling up to 2013. Therehas been limited exploration at Beschefer since 2013 with theexception of 1,600 meters drilled by Wallbridge in 2018.
This press release was prepared by Steven Lauzier, VP Exploration forQuebec, P.Geo,OGQ, who is a qualified persons as defined underNational Instrument 43-101, and who has reviewed and approved thegeological information provided in this news release.
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.
This news release contains certainstatements that may be deemed “forward-looking statements” withrespect to the Company within the meaning of applicable securitieslaws, including statements with respect to the Company’s futureplans and the acquisition of Beschefer. Forward-looking statements arestatements that are not historical facts and are generally, but notalways, identified by the words “expects”, “plans”,“anticipates”, “believes”, “intends”, “estimates”,“projects”, “potential” and similar expressions, or thatevents or conditions “will”, “would”, “may”, “could”or “should” occur. Although the Company believes the expectationsexpressed in such forward-looking statements are based on reasonableassumptions, such statements are not guarantees of future performance,are subject to risks and uncertainties, and actual results orrealities may differ materially from those in the forward-lookingstatements. Such material risks and uncertainties include, but are notlimited to, the Company’s ability to obtain all requisite approvals,including approval of the Canadian Securities Exchange and securitiesregulatory authorities, if required for a transaction or financing,the Company’s ability to raise sufficient capital to fund itsobligations under its property agreements going forward, to maintainits mineral tenures and concessions in good standing, to explore anddevelop Beschefer or its other projects and for general workingcapital purposes, changes in economic conditions or financial markets,the inherent hazards associates with mineral exploration, changes ingeneral economic conditions, the ability of the Company to obtain thenecessary permits and consents required to explore, drill and developits projects and if obtained, to obtain such permits and consents in atimely fashion relative to the Company’s plans and businessobjectives for the projects, changes in environmental and other lawsor regulations that could have an impact on the Company’soperations, compliance with environmental laws and regulations,aboriginal title claims and rights to consultation and accommodation,dependence on key management personnel and general competition in themining industry. Forward-looking statements are based on thereasonable beliefs, estimates and opinions of the Company’smanagement on the date the statements are made. Except as required bylaw, the Company undertakes no obligation to update theseforward-looking statements in the event that management’s beliefs,estimates or opinions, or other factors, should change.
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