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Signature Resources Intersects 14.90 g/t Gold Over 1.0 Metre and 5.81 g/t Gold Over 6.0 Metres at the Lingman Lake Gold Project
TORONTO, June 07, 2021 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the
About this update from Signature Resources Ltd.
[{"type":"text","content":" TORONTO, June 07, 2021 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) (\"Signature\" or the \"Company\") is pleased to announce the first three diamond drill holes (515 metres) of its ongoing 15 diamond drill hole (3,260 metres) winter-spring drill campaign at its 100% owned Lingman Lake Gold Project (“Project”). Drilling was designed to expand the known envelope of mineralization on the western side of the diabase dike (Exhibit 1). The Company expects several batches of diamond drill hole assay results to be released over the coming four to six weeks. Highlights: Drill hole 21-03 intersected 14.90 g/t gold over 1.0-metre in the Central Zone. Drill hole 21-15 intersected 5.81 g/t gold over 6.0-metres, including 12.20 g/t over 1.0-metre at a vertical depth of 80-metres in the West Zone. A 3D Induced Polarization (“IP”) survey is scheduled for June 14th to help fingerprint the historical resource and to use that as a signal to guide the summer drill campaign. A property wide LIDAR survey is expected to commence soon after the 3D IP. The survey will enhance surface and bedrock features to assist in target selection for the summer’s prospecting program. A high resolution Magnetic and Matrix Very Low Frequency Electromagnetic (VLF) survey is scheduled to flown over the new claims this summer (Exhibit 3). “We are incredibly pleased that the team successfully intersected and expanded the Lingman Lake West Zone of mineralization. Drilling continues to expand both strike and depth potential and remains open to further drilling. These three holes highlight strong geological-alteration and structural features conducive to gold mineralization. We believe we have good potential to expand the West Zone’s historical estimate** and look forward to the next batch of results which is expected to be ready in the coming weeks. Nordmin Engineering continues to work on converting the historical estimate to NI 43-101 compliance in conjunction with a maiden NI 43-101 resource within the next 18 months. The upcoming geophysical surveys will help us to plan the next phase of drilling during the upcoming summer program.” Robert Vallis – President, CEO, and Director **Cautionary note: The property hosts a historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) inclusiv...