Toronto, Ontario--(Newsfile Corp. - August 24, 2017) - Minnova Corp. (TSXV: MCI) (OTC: AGRDF) "Minnova" or the "Company"), an advanced-stage mining exploration and gold development company focused on the advancement and re-start of our 100% owned PL Gold Mine in central Manitoba is pleased to announce additional surface grab sample assay results from its summer field program at the PL Mine site.
As previously disclosed (see August 14, 2017 press release) prospecting and geological mapping along VTEM conductors and magnetic lineaments along strike of the PL Deposit identified two new gold showings, the PL North and J Showings. Additional assays have now been received from the PL North Showing extending surface mineralization by over 100m to the southeast towards the current northern limits of the PL Deposit.
The PL North showing is comprised of a network of 30-40 cm thick quartz veins hosted within a series of Amisk Group gneisses. The paragneiss succession is underlain by tonalite gneiss that also forms the footwall of the PL Deposit. Where exposed, quartz veining and mineralization at the PL North Showing can now be traced over a strike length of approximately 230m. Initial mapping at the PL North Showing indicates the structural style of the quartz veins, mineralisation, and stratigraphy is comparable to the PL Deposit. The PL North Showing was not previously identified and has never been drill tested.
In addition to the PL style vein mineralisation two new previously unrecognized styles of gold mineralisation where encountered. The first new style of mineraization is characterized by disseminated fine-grain arsenopyrite and gold mineralisation hosted in a greywacke paragneiss with grab samples E00016992 grading 3.83 g/t, 16993 grading 5.04 g/t and 16994 grading 5.87 g/t in a mapable unit measuring approximately 23m thick. See Notes to assay results table on page 2 for additional disclosure related to these surface grab samples. The second style of mineralization is gold associated with disseminated aresenopyrite in the footwall tonalite gneiss located approximately 100 meters west of the PL North Showing. Field work is ongoing to further define and expand these mineralized occurrences.
Gorden Glenn, CEO commented, "Additional surface grab samples have successfully extended the strike length of gold mineralization at the PL North showing which is interpreted to be on trend from the PL Gold Deposit. These results in addition to the new styles of gold mineralization continue to highlight the exploration potential of the property. Field work continues in preparation for a winter drill program to test strike and dip extents of gold mineralization at the PL North Showing and the 2km trend of untested strike length extending on trend toward the J showing."
Surface grab sample results to date include;
| Sample Number | Au (ppb) Atomic Absorption Finish |
Au (g/t) Gravimetric Finish |
| PL North Showing | ||
| E00016985PR | 358.00 | |
| E00016986 PR | 8100.00 | |
| E00016987 PR | > 10000.00 | 13.80 |
| E00016989 PR | > 10000.00 | 45.00 |
| E00016990 | 36 | |
| E00016991 | > 10000.00 | 15.3 |
| E00016992 | 3830 | |
| E00016993 | 5040 | |
| E00016994 | 5870 | |
| E00016995 | 372 | |
| E00016996 | 28 | |
| E00016997 | 9390 | |
| E00016990 | 36 | |
Note: Assay results are uncut, fire assay with gravimetric finish on samples >10 g/t
PR — Previously reported on August 14, 2017
Additional disclosure;
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Grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property
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Surface grab samples E00016992, 16993 and 16994 are point samples and are not consistent throughout entire unit
Field work to date supports an interpretation that a gold mineralised, structural trend extends northwest of the PL deposit, is intimately associated with the same footwall tonalite underlying the known PL deposit gold mineralisation. Field work continues to explore the extent and characteristics of this prospective structural zone that occurs at the tonalite contacts beyond the currently defined 2km trend between the PL North Showing and the J Showing. Geological mapping and prospecting of these new gold occurrences and several other targets along strike from the PL Mine is ongoing. See geology map with sample locations at www.minnovacorp.ca.
QA/QC Statement
All grab samples were placed in labelled rice sacks and sealed with a security zip-tie. Samples were delivered to Activation Laboratories Ltd. in Thunder Bay Ontario. Receipt of the samples was signed off at all preparation labs and tracked by the Company. Pulps of each sample were prepared and followed by fire assay and gravimetric analysis, if required. A QA/QC program including the regular insertion by the Company of duplicates, blanks and standards was instituted.
About Minnova Corp.
Minnova Corp. is an emerging Canadian gold producer focused on re-starting the PL Gold Mine and expanding gold resources on its PL and Nokomis gold deposits. The Company completed an Updated PEA which supports average annual production of 48,100 ounces over a +10 year mine life. Work to date supports advancing the project toward production with an initial program of detailed definition drilling to be followed by a future underground test mining and bulk sample program and completion of a Feasibility Study to bring the PL Mine back into production. The PL Gold Mine has a valid underground mining license, an existing 1,000 tpd flotation mill, over 7,000 meters of developed underground ramp to -135 metres depth, is fully road accessible and close to existing mining infrastructure in the prolific Flin Flon — Snow Lake Greenstone Belt of Central Manitoba.
Qualified Person
Mr. Chris Buchanan, M. Sc., P. Geo., a consultant of the Company and a "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
