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Signature Resources' Regional Work Shows Signs of a Potential Porphyry System; Ground Geophysics Commenced at Lingman Lake
Toronto, Ontario--(Newsfile Corp. - September 7, 2021) - Signature Resources Ltd. (TSXV: SGU) ...
About this update from Signature Resources Ltd.
[{"type":"text","content":"Signature Resources' Regional Work Shows Signs of a Potential Porphyry System; Ground Geophysics Commenced at Lingman LakeToronto, Ontario--(Newsfile Corp. - September 7, 2021) - Signature Resources Ltd. (TSXV: SGU) (OTCQB: SGGTF) (FSE: 3S3) (\"Signature\" or the \"Company\") is pleased to announce that its ongoing regional compilation has resulted in the development of a preliminary model to explain the geophysical signature and mineralization at Area-2 (Matikwan Lake-target) in the north-western portion of its 100%-owned Lingman Lake Gold Project (\"Project\") located in Northwestern Ontario (see Figures 1 & 2). Highlights:Extensive 8,000-metre by 2,200 metre geophysical low in mafic volcanics. Possibly the result of an underlying felsic intrusive body;Gold, silver (precious metals); copper, lead, zinc, molybdenum (base metals) associated with localized magnetic highs within the larger magnetic low;Base metal assemblage more indicative of an intrusive (porphyry) system with a precious metal component;26-shallow drill holes (1965-1979), totaling 1,623 metres (averaging 62-metres) intersected disseminated to massive sulphides in felsic and mafic volcanics; and1971 mapping by Johnson identified 40-mineral occurrences.\"This is an exciting development in the regional potential of the Lingman Lake Greenstone Belt, as we may be looking at a potential porphyry system in the north-western portion of the property. The mineral assemblages and geophysical signature of the area suggests that a felsic intrusive body may underlie the volcanic rocks. Vein and stringer sulphides would have permeated the volcanic rocks in a fracture system generated by the intrusion. We are eager to test this idea with detailed mapping and ground geophysics, followed by drilling. Whilst we remain focused on expanding the known zones of gold mineralization at the Lingman Lake Gold Mine with a 10,000-metre diamond drill program in the Fall, the regional compilation work is designed to unlock the regional potential of the camp as well as identify new targets to test in parallel with the work we are doing at the Lingman Lake deposit.\"Walter Hanych - Head GeologistGround magnetic survey commenced at Lingman Lake. As a follow-up to our last press release dated August 23, 2021, work has commenced on a completed 200-line kilometre ground magnetic survey over the ...