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Mistango River Resources Completes Phase II Goldie Drill Program, Awarded $200,000 in OJEP Funding
Toronto, Ontario--(Newsfile Corp. - March 11, 2024) - Mistango River Resources Inc. (CSE: MIS) ("Mistango" or the "Company") is pleased to announce assay result
About this update from Stardust Metal Corp.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - March 11, 2024) - Mistango River Resources Inc. (CSE: MIS) (\"Mistango\" or the \"Company\") is pleased to announce assay results from its Phase II diamond drill program at its Goldie project in Thunder Bay District, Ontario. Jamie Spratt, CEO commented: \"The goal of our program was to investigate the extensions of known mineralized structures from the adjacent Delta 1 project and new target areas on our property. From this perspective the program has been a success. We will evaluate these results in the context of all previous drilling at Goldie to assess the project's most effective follow-up program. We remain in a favourable balance sheet position with working capital of $4MM. We continue to evaluate the most impactful opportunities to deploy our capital.\" Highlights: Three holes, totaling 1,487 metres, tested extensions of the adjacent Delta 1 Project mineralization and new target areas. Notable intercepts included: 0.95 g/t Au over 1.5m from 129m in GLD-24-002 0.62 g/t Au over 2.5m from 136.5m in GLD-24-002 0.47 g/t Au over 2m from 243m in GLD-24-003 0.75 g/t Au over 3m from 429m in GLD-24-003 Phase II Drill Program partly funded by $200,000 grant from Ontario Junior Exploration Program through the Ontario Ministry of Mines Phase II Drill Program Details The primary objective of this drilling initiative was to evaluate mineralization extensions of the adjacent Delta 1 Project and explore new target areas. The program's comprehensive planning involved detailed sampling, geophysical studies, and a thorough review of previous drill results within the district. Geophysical targeting was informed, in part, by a 420-line-kilometer high-resolution airborne magnetic survey conducted by Mistango in 2023. Hole GLD-24-002: Targeted an area with previous drilling and high-grade sampling, correlating with interpreted structures from a previously completed magnetic survey. Additionally, this hole was drilled beneath an IP anomaly. Returned 1.5m @ 0.95 g/t Au from 129-130.5m and 2.5m @ 0.62 g/t Au from 136.5-139m downhole. The mineralized intervals feature greenish-grey intensely altered sandstone sandwiched between two red and pink syenite intrusive units. The significant silica alteration suggests a potential alteration halo from the intrusions affecting the sandstone. Additionally, there is moder...