Decade Resources: Drilling in 2018 has Extended Waterpump Zone on the Red Cliff Property
TSX VENTURE: DEC
Stewart, BC / June 21, 2018 / JMN Wire / Decade Resources Ltd (“Decade”) (TSX.V: DEC) reports that the 2018 drill program is testing the Waterpump zone (faulted extension of the Montrose zone) on the Red Cliff property located in the “Golden Triangle” area of British Columbia. On the Red Cliff project, the Company and Mountain Boy Minerals are in joint venture on the Crown Granted portion of the property which is owned 65% by Decade and 35% by Mountain Boy. The Silver Crown 6 claim, in which Decade is earning a 100 % interest, is adjacent to the north portion of the crown grants. To the north of the Silver Crown 6 claim, Mountain Boy owns a 100 % interest in the MB property. The Red Cliff Extension claim owned 100 % by Decade is along the east side of the Silver Crown 6 claim. The Montrose zone is part of a large mineralized structure identified over 2.3 km of strike length on the property that has been offset by a fault along Lydden Creek.
The work in 2018 has completed 13 drill holes in the area of the 2017 drilling on the Waterpump zone. In addition, surface sampling is being carried out to identify the area of a historic surface trench that assayed 64 g/t gold over 1.37 m over the Waterpump zone, uphill from the drilling. The Company has not verified this gold result and is using for reference purposes only. Highlights of assays obtained during the 2017 drill program on the Waterpump include:
- Intersection of 13.88 g/t gold over 7.5 m in DDH-17-M0N-38.
- Intersection of 10.41 g/t gold over 22.87 m in DDH-17-M0N-40.
- Intersection of 7.21 g/t gold over 7.16 m in DDH-17-M0N-41.
Drilling in 2018 has intersected the Waterpump zone over core lengths of 2 to 20 m with quartz –pyrite-chalcopyrite and pyrite veins along stockwork zones, similar to the 2017 Waterpump intersections. Along the east wall area of the stockwork zones, fine sphalerite-galena-pyrite-chalcopyrite veinlets are present. Fine visible gold has been noted in several of the intersections both in the quartz-pyrite-chalcopyrite and sphalerite-galena veinlets. High priority samples have been sent to the lab for assays and the Company looks forward to reporting results in the coming weeks.
The property is located in the “Golden Triangle” area of British Columbia, 2.5 km from a paved highway and the power grid. The property area is among the world’s most prolific mineralized districts, host to past and current mining operations including Scottie Gold, Porter – Idaho, Johnny Mountain, Red Mountain, Snip Mine, Premier Mine, Golden Bear and Valley of the Kings. The Golden Triangle has reported mineral resources (past production and current resources) in total of 67 million oz of gold, 569 million oz of silver and 27 billion pounds of copper. Pretium is milling in excess of 2700 tonnes per day from the Valley of Kings deposit. It has 1.6 million ounces gold in the proven category (grade 14.5 g/t) and 6.5 million ounces in the probable category (16.1 g/t grade) (Pretium website). Seabridge has 460 million tonnes grading 0.68 g/t gold and 0.17 % copper in the proven category as well as 1,738 million tonnes grading 0.51 g/t gold and 0.22 % copper in the probable category. This reserve is within 4 different deposits (Seabridge website).
The Company is also completing a geological model from all drilling to date that shows the area of the mineralizing intrusive identified in 2017 along with the different types of mineralization to aid in possible resource calculations. All past drill log data is being reviewed to unitize all the core logging to date. A model of the gold grades is presented in the Red Cliff project section.
The Company has closed the oversubscribed private placement to raise an aggregate $1,409,750 from the sale of flow-through and non-flow-through units. The proceeds from the sale of the flow-through units will be expended on the Company’s properties located in British Columbia and the proceeds from the sale of non-flow-through units will be used for working capital purposes.
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of the exploration programs on behalf of the Company and is responsible for the contents of this release. E. Kruchkowski is not independent of Decade as he is the president of the Company.
Decade Resources Ltd. is a Canadian based mineral exploration company actively seeking opportunities in the resource sector. Decade holds numerous properties at various stages of development and exploration from basic grass roots to advanced ones. Its properties and projects are all located in the “Golden Triangle” area of northern British Columbia. For a complete listing of the Company assets and developments, visit the Company website at www.decaderesources.ca which is presently being updated. For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.