TORONTO, Oct. 16, 2020 /CNW/ - Mistango River Resources Inc. ("Mistango" or the "Company") (CSE: MIS) is pleased to announce that its planned phase one 10,000-metres diamond drilling campaign on its 100% owned Kirkland West Project, in Kirkland Lake, Ontario is expected to begin on November 3rd, 2020.
"We are pleased to announce the commencement of our first phase of our drilling on our Kirkland West Project. Those who have followed Mistango understand that it has been remarkable journey and a cumulative effort by our team, both technically and corporately, to get to this stage. Mistango is now funded with $7 million cash and two well situated projects in the Kirkland Lake camp. We are committed to deploying this capital effectively in our attempts to make a new discovery in the Kirkland Lake," said Stephen Stewart, Mistango's Director.
Drilling Program at the Baldwin Zone
The focus of the upcoming drilling campaign at the Kirkland West Project will be the Baldwin Zone, which shares a similar geological context with the Kirkland Lake mining camp. The Baldwin Zone likely hosts extensions of the gold-bearing Main Break fault and subsidiary structures, as well as the regionally important Larder-Cadillac Fault Zone. Target areas for the drill program have been identified based on the completed geological and structural interpretation. These include the historical Baldwin Mine and surrounding areas as well as several complex structural domains, each of which are located on or associated with fault systems similar to those that host much of the gold endowment of the Kirkland Lake Camp.
A total of 10,000 metres of diamond drilling has been planned to explore the identified target areas. An Ontario-based diamond drill contractor has been engaged and the first drill holes will be in the vicinity of the Baldwin Mine, where historical production resulted on gold grades of about 15 g/t.
About the Kirkland West Project
The Kirkland West Project is adjacent to Kirkland Lake Gold's (KL:TSX) Macassa Mine and includes two main zones, the Baldwin Zone and the Eby Zone that are distinguished by different geological settings. The Baldwin Zone includes land holdings in western Teck township as well as in Grenfell and Eby townships. The Baldwin Zone shares a similar geological context with the Kirkland Lake mining camp. The Eby Zone is 3KM to the southwest within Eby township and is likely to feature a somewhat different although a highly prospective geological setting.
The technical information contained in this news release has been reviewed and approved by Dr. Keith Benn, P.Geo., Vice President Exploration for Mistango, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
About Mistango River Resources Inc.
Mistango is a Canadian-based exploration and development company focused on its Eby-Baldwin and Omega projects in the Kirkland Lake District of Ontario's Abitibi Greenstone Belt. The Company is listed on the Canadian Securities Exchange (CSE) under the symbol MIS.
Neither Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Mistango assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Mistango. Additional information identifying risks and uncertainties is contained in filings by Mistango with Canadian securities regulators, which filings are available under Mistango profile at www.sedar.com.