GSKKF - Goldseek Commences 4000m Drill Program at Beschefer Project
(TheNewswire)
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Approximately 4,000 metres ofdrilling is currently underway at Beschefer
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A combination of infill and expansiontargets are planned with a focus on extending the historicalhigh-grade zones ( 55.63 g/tgold over 5.57 metres; 10.28 g/t gold over 8.00 metres, and 12.40 g/tgold over 3.78 metres)
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The second-best result to date interms of metal factor was encountered during the 2021 drill programwith 4.92 g/t gold over 28.65 metres, including 11.39 g/t gold over9.1 metres
February 23, 2022 - TheNewswire - London, Ontario - Goldseek Resources Inc. ( CSE:GSK) (CNSX:GSK.CN) (OTC: GSKKF) (FSE:4KG) (“Goldseek” or the“ Company ”) is pleased to announce the commencement of our 4,000-metre drill program at the Beschefer Project. The Beschefer Project is locatedapproximately 30 kilometres southwest of Wallbridge Mining CompanyLimited’s (“Wallbridge”) Fenelon Gold Project. On March3 rd, 2021, the Company entered into an option agreement on theBeschefer Project to earn 100% over 4 years from Wallbridge ( see news release dated March 3,2021 ).
The Project covers a 3 km strike along a confirmed goldtrend inside the Brouillan-Fenelon volcanic sequence. The goldmineralization drilled to date represents a strike length ofapproximately 1km, taking the geometry of a deformed and alteredtabular zone, shallow dipping to the southwest. To date, gold valueswere obtained from surface down to a vertical depth of approximately500 metres, associated with different generations of disseminatedpyrite, structural features and distinct alteration minerals. Asindicated by Figure 1, four lenses have been modelled based ondistinct gold grade distribution, host rocks, geometry and interpretedcontrols. They represent drill targets at this stage.
Actual known lenses remain open laterally inside theproperty limit. The target is defined by a strong northeast magneticanomaly which could correspond at this early stage to a magnetitebearing intrusion-related alteration system.
Goldseek's President & CEO Jon Deluce states, “Weare excited to start our winter follow-up drill program on theBeschefer Project, which has demonstrated size and grade potential. Welook forward to building on the success of our maiden drill programhighlighted by 4.92 g/t goldover 28.65 metres 1 (141 Metal Factor),including 11.39 g/t gold over9.1 metres 1 , which is the 2nd best intercept on theProperty to date. The remainder of our maiden drill program consistedof low-grade with high-width intercepts (Ex . 2.17 g/t gold over 13.2metres 2 ), demonstrating the Project's strongcontinuity and near-resource potential.
We have a catalyst packed 2022 with a goal of drilling10,000 metres at Beschefer and targeting a maiden resource towards theend of the year. We target releasing first assay results towards theend of March.”
FIGURE 1 – BESCHEFER LONG SECTION(2021 RESULTS IN RED)
The Company plans to work directly inside the knowngold zones while preparing step-out targets to find similar trendswithin the Property.
Goldseek has budgeted approximately 4,000 metres ofdiamond core drilling for high-priority infill and extension targets.The program includes 15 planned holes with lengths ranging from 130 to400 metres. It aims to complete the following objectives:
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Infill Drilling (50m): Expanding the size of the “Central Shallow Zone” and“East Zone” mineralization by adding intercepts at approximately50 metres on both sides of mineralized sections. Six (6) holes forapproximately 1,900 metres are planned for that objective. Anadditional six (6) holes representing approximately 1,320 metres willfill gaps and attempt to extend the influence of higher gradesclusters.
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Expansion Drilling: The modelled geometry of the gold mineralization lensessupport the identification of a previously undrilled blind targetcorresponding to the eastern extension of the actual “East Zone”which we successfully extended 90 metres to the northeast in 2021drilling (BE-21-14: 0.96 g/tAu over 19.9 metres ). Two (2) holes for 575metres will be drilled to follow up on the step-out success.
Full details on drill targets and an updated 3D modelof the gold zones will be provided in subsequent news releases.
About the Beschefer Project:
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Advanced gold exploration project with significantnear-term resource potential
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Located in a favourable orogenic gold setting 45 kmnortheast of the Casa Berardi Mine and 30 km southwest ofWallbridge’s Fenelon Gold Project.
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Highlights of the best intersections include 4.92 g/t gold over 28.65metres in hole BE-21-02 (including 11.39 g/t over 9.1m ), 55.63 g/t gold over 5.57 metres in hole BE13-038 ( including 224 g/t over 1.23m ; 13.95 g/t over 0.68m and 13.70 g/tover 0.73m ), 13.07 g/t gold over 8.75 metres in hole B12-014 ( including 58.5 g/t over 1.5m ), 3.56 g/t gold over 28.4 metres in hole B14-006 ( including 7.42 g/t over 5.5m ), and 10.28 g/t gold over 8.00metres in hole B14-35 ( including 86.74 g/t over 0.60m ). True width in these sections vary between 89% and 99% ofthe intercepted width.
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The mineralization shows high-grade gold-bearingstructures hosted in a lower grade envelope, highlighting the regionalpotential along the already defined shear zones on theProperty.
Qualified Person
This press release was prepared by Martin Demers P.Geo,OGQ (#770), whois a qualified person as defined under National Instrument 43-101, andwho has reviewed and approved the geological information provided inthis 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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BE-21-02 announced October 6,2021
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BE-21-06 announced November 23,2021
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 of Beschefer. Forward-looking statements are statements that arenot historical facts and are generally, but not always, identified bythe words “targets”, “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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