Business
Signature Resources’ Drill Hole 18-03 Intersects North Zone Along Significant Lengths
TORONTO, Sept. 10, 2018 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF) ("Signature" or the "Company") is pleased to announce that drill
About this update from Signature Resources Ltd.
[{"type":"text","content":" TORONTO, Sept. 10, 2018 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF) (\"Signature\" or the \"Company\") is pleased to announce that drill hole 18-03 targeting the North Zone of mineralization at Lingman Lake has intersected two sections of variably altered and sheared rock. Visual examination of the core reveals that the zones are a bleached, moderately to highly silicified and carbonatized, variably pyritic and highly foliated rock. The foliation is the result of high shear strain, which is an environment conducive to fluid movement and possible gold mineralization. “As our drill program continues, initial core observations reveal numerous characteristics which are typically associated with gold and which have historically been reported with identified zones. Hole 18-03 is just one example, we are very excited as the observed alteration and deformation of the rocks indicate widespread and active plumbing and deformation events which are conducive to gold mineralization.”, commented Walter Hanych, President and CEO of Signature Resources.” Mr. Hanych continued, “We have completed 8 holes of our 12 hole program and are on schedule to complete the drill program by mid-month The core is being processed and upon completion selected half cut core samples will transported to SGS’s Laboratory in Red Lake, Ontario for assaying.” The following intersections have been observed: Meterage is measured down hole and reflects core interval. The hole was drilled at an azimuth of 360 degrees, (true north) and at a -45 degree dip angle to intersect steeply south dipping (70-80 degree) east-west striking lithological-deformational trends. The main rock types are massive mafic volcanics with some intermediate (composition) feldspar porphyry. These volcanics have been strongly altered (variably silicified, chloritized, carbonatized +/- epidote) and variably sheared in the following zones: 44.35 - 53.55 meters (9.20-meter length); with up to 5% pyrite in the upper and lower 2 to 3-meter shoulders of the section. See image below of this intercept. 64.47 - 77.23 (12.76-meter length); very chloritic with pervasive carbonate and brecciated appearance with 5% pyrite in upper <1 meter of the intersection. Image of core run for hole 18-03 showing intersection of North Zone between 44.35 and 53.55 meters down the hole. See descr...