Business
District Copper Announces Prospecting and Sampling Results From Stony Lake Gold Project
VANCOUVER, British Columbia, Aug. 07, 2019 (GLOBE NEWSWIRE) -- District Copper Corp. (“District Copper”, “District”, or the “Company”) (TSX-Venture: DCOP) is pl
About this update from District Copper Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 07, 2019 (GLOBE NEWSWIRE) -- District Copper Corp. (“District Copper”, “District”, or the “Company”) (TSX-Venture: DCOP) is pleased to announce analytical results from the recently completed prospecting and sampling on its 100% owned Stony Lake East gold project. District’s Stoney Lake Project is located within the Cape Ray/Valentine Lake structural trend in Central Newfoundland - Canada’s newest emerging orogenic gold district. The Stony Lake project covers 27 kilometers of this favourable trend between Sokoman’s Moosehead discovery to the northeast and the Twilight zone to the southwest. Highlights: Eight areas of highly anomalous to low grade gold mineralization have been identified. The gold mineralization is hosted in quartz feldspar porphyry, pyrite, and arsenopyrite bearing reduced sandstone, quartz stockwork, and quartz veins. The gold mineralization exhibits arsenic-antimony-molybdenum geochemical associations with a high gold to silver ratio. The gold mineralization is characterized by sericite, silica, ankerite, carbonate, and chlorite alteration typically as pervasive alteration and envelopes around quartz stockwork and quartz veins. Pyrite and arsenopyrite (1-3% total sulphide) are common to the gold mineralization in all samples containing greater than 50 parts per billion (“ppb”) gold. Jevin Werbes, District Copper President & CEO, comments: “the analytical results and features common to the gold mineralization located to date suggest the potential for a number of different gold environments including a sediment-hosted, intrusion-related style orogenic gold environment. Sediment hosted intrusion related gold deposits are large tonnes, lower grade deposits such as Muruntau in Uzbekistan. We look forward to the next phase of the program which will be include compilation of the rock sampling results with the structural and alteration data from the airborne survey currently underway.” The gold mineralization shows a crude correlation with pathfinder elements typical of orogenic gold deposits. The statistical data for gold and pathfinder elements for all samples collected are listed in the table below. Gold Arsenic Antimony Molybdenum (ppb) (ppm) (ppm) (ppm) MEDIAN 60 89 2.5 0.4 AVERAGE 215 1,052 ...