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Goldflare Exploration to Start Second Phase of Drilling on Goldfields Project
PIEDMONT, QC / ACCESSWIRE / August 31, 2023 / Goldflare Exploration Inc. (TSXV:GOFL) ("Goldflare" or "the Company") announces the start of a second phase of dri
About this update from Goldflare Exploration Inc
[{"type":"text","content":" PIEDMONT, QC / ACCESSWIRE / August 31, 2023 / Goldflare Exploration Inc. (TSXV:GOFL) (\"Goldflare\" or \"the Company\") announces the start of a second phase of drilling on the Goldfields project following a first high-grade result of 15.36 g/t over 7.05 meters including an interval of 103.86 g/t over 1 meter from the hole AIG-23-13. The Company provides an update on the work in progress on the Goldfields and Condor projects and is preparing to advance these two projects located in the extension of the Porcupine-Destor fault, in the Rouyn-Noranda mining camp. Goldfields Project The Goldfields property contains a high density of historic gold showings drilled in an area located approximately 500 meters west of the planned pit for mining the Fayolle deposit. The latest modeling work carried out by Goldflare on the Goldfields deposit shows a general orientation of the mineralized structures north northeast. This new understanding of geometry is comparable to the near north-south orientation of the Yvan Vézina Mine deposit located approximately 10km further west along the Porcupine Destor Fault. Operated from 1982 to 1988, the mine produced 1,095,191 tonnes at a grade of 3.72 g/t (sigeom.mines.gouv.qc.ca). The following works were carried out on the property during the last quarter: All the results of the first phase of the 2023 drilling program have been received. Seven (7) holes totaling 1,816 meters were drilled to validate the position of certain historical grades. A significant result, 15.36 g/t over 7.05 meters including an interval of 103.86 g/t over 1 meter, was obtained from hole AIG-23-13 near the contact with the overburden. This result comes from analysis by metal sieving of a quarter of a carrot. An isolated result of 1.38 g/t over 1.5 meters was obtained in hole AIG-23-11. Five other holes intersected one to two intervals varying between 0.35 and 0.7 g/t over 1m (full table of results in appendix). Following these results, a reinterpretation of the mineralized structures and a 3D modeling have served as a basis for the planning of the second phase of drilling. This second phase will use directions varying from straight east to southeast. The initial objective is to test the influence of the high grade of AIG-23-13 using a series of short holes, less than 100 meters long, which will be drilled at a spacing varying from...