Damara Reports Drill Assays from New Gold Discovery at Placer Mountain

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[{"type":"text","content":"Damara Reports Drill Assays from New Gold Discovery at Placer Mountain\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n April 5 2021 – TheNewswire -\n \n \n DAMARA GOLD CORP. (TSX-V:DMR) (\n \n \n “\n \n \n Damara\n \n \n ”\n \n \n or the\n \n \n “\n \n \n Company\n \n \n ”\n \n \n )\n \n \n is pleased to announce a new drilling discovery made during\nthe Company’s maiden exploration program on its Placer Mountain Gold\nProperty (formerly referred to as the Princeton Property) located near\nPrinceton, British Columbia  (“\n \n \n Placer Mountain\n \n \n ” or\nthe “\n \n \n Property\n \n \n ”).\n \n \n The Property is under option from\nUniversal Copper Ltd., via an assignment agreement with Canagold\nResources Ltd. The winter program was carried out to satisfy an\nexploration commitment due December 31, 2020.\n \n \n The program consisted of a high-resolution DIAS32 3DIP and resistivity\nsurvey plus 533m of diamond drilling that tested the Alpha Vein\nshowing and is the first ever drill program completed on the Property.\nDiamond drill hole PG-20-001 intersected 1.00m of 48.60g/t Au and\n30.8g/t Ag from 15m downhole, and PG-20-005 intersected 4.0m of\n7.07g/t Au and 101g/t Ag from 29m downhole.\n \n \n \n \n The winter program, which commenced immediately\nfollowing the closing of the Property acquisition agreement, focused\non testing the Alpha Vein showing, a gold-silver mineralized quartz\nvein structure discovered during recent logging road construction on\nthe Property. Eight of the nine holes drilled intersected the\nmineralized structure and IP chargeability and resistivity results\nsuggest the vein system extends off the surveyed area to the northeast\n(Figure 6, 7). As a result, Damara has outlined plans for a systematic\n2021 exploration program consisting of an airborne VTEM\nelectromagnetic survey, soil geochemical sampling, detailed geological\nmapping, prospecting, trenching and channel sampling, with the aim of\ncarrying out a second phase of drilling by mid to late Summer (Figure\n8, 9).\n \n \n \n \n The 14,650-hectare Placer Mountain Property is centered\non Placer Creek, which flows north from Placer Mountain into the\nSimilkameen River just west of the Property (Figure 10). Highway 3 and\na network of well-maintained forest service road...

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