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Loyalist Exploration Provides Update on Hungry Hill Critical Minerals Polymetallic Project in Newfoundland, Prepares for Work Program
Toronto, Ontario - (The Newswire – June 27, 2024) - Loyalist Exploration Limited (CSE: PNGC) ("Loyalist" or the "Company") is pleased to provide a progress repo
About this update from Loyalist Exploration Limited
[{"type":"text","content":"Toronto, Ontario - (The Newswire – June 27, 2024) - Loyalist Exploration Limited (CSE: PNGC) (\"Loyalist\" or the \"Company\") is pleased to provide a progress report on its recently announced acquisition of 100% of the Hungry Hill polymetallic project (“Hungry Hill” of the “Project”) located in central Newfoundland approximately 300km west of St. Johns through its proposed amalgamation with Millbrook Minerals Inc.. The project is in the world class Buchan’s mining camp hosting polymetallic base metal and gold deposits including the Buchans Mine, one of the richest polymetallic mineral deposits ever mined; over a 50 year mine life, the prolific Buchans Mine produced 16,196,876 t grading 14.5% Zn, 7.6% Pb, 1.3% Cu, 126 g/t Ag and 1.4 g/t Au. Loyalist recently expanded the footprint of the Project with the acquisition by staking of a block of 63 adjacent and contiguous claims covering ~1570 hectares of new, prospective terrain (claim block 038030M – see map). These claims surround the historic work (see below) to the west, east and north and where the Company believes the mineral occurrences continue down dip. Discovered in 1996 the Hungry Hill occurrence consists of a large, attractive, under-explored target containing the critical minerals (as defined by the Canadian Minerals and Metals Plan and Canadian Critical Minerals Strategy) copper-zinc-lead (plus gold and silver) with many similarities to Buchans style polymetallic volcanogenic massive sulphide (“VMS”) mineralization (as noted by G. Thurlow, Buchans Mine geologist, in a 2000 report). The project has seen a program of 28 shallow diamond drill holes as well as geological, geochemical and geophysical surveys. The work to date has identified a mineralized zone 1500 m long. The best historic intersection obtained in this zone was 3.06% Zn., 0.16% Cu, 20.9 g/t Ag, and 0.81g/t Au over 10.8 m (in DDH HH-97-16). A composite sample of mineralized fragments taken from surface boulders within the mineralized zone assayed 20.1% Zn, 12.1% Pb, 0.6% Cu, 66 g/t Ag, and 0.3 g/t Au. The zone remains open along strike and to depth, with no significant new exploration in the past 15 years. The renewed motivation for exploration planned by Loyalist during 2024 is: Critical Minerals target Proximity to past producing base metal mines in the same geological setting Prospective...