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Targa Exploration Identifies 700m Soil Anomaly With Up To 6.1 G/t Au From Soil Sampling Program at Shanghai Project
VANCOUVER, BC, April 26, 2023 /CNW/ - Targa Exploration Corp. (CSE: TEX) (FRA: V6Y) ("Targa" or the "Company") is pleased to announce the results of the Phase I
About this update from Targa Exploration Corp.
[{"type":"text","content":" VANCOUVER, BC, April 26, 2023 /CNW/ - Targa Exploration Corp. (CSE: TEX) (FRA: V6Y) (\"Targa\" or the \"Company\") is pleased to announce the results of the Phase I soil sampling and ground VLF survey on at its Shanghai Project located in the western part of the Selwyn basin in the Yukon Territory (the \"Shanghai Project\"). As disclosed in the Company's news release dated November 8, 2022, the field work completed by the Company at the Shanghai Project included the collection of 1,297 soil samples and a 19-line kilometer magnetometer and very low frequency electromagnetic (VLF) geophysical survey along 28 survey lines tacking 1978 readings at 10m station spacing. Highlights of the Phase I exploration program at the Shanghai Project include: The discovery of a new, extremely high tenor gold in soil anomaly over 700m in length at the center of the 27.48km2 property. Gold in soil values grading up to 6.1 g/t and 2.0 g/t Au from this newly discovered zone (Figure 1), representing the highest-grade gold in soil sampled collected on the Shanghai Project to date. Of the 1297 samples collected in 2022, 388 samples returned values over 10ppb gold (\"Au\"), 14 samples returned values greater than 0.1 g/t Au, and 2 samples >1g/t Au. Jon Ward, President, and CEO of Targa Exploration commented, \"We are excited by the impressive results of the Phase I exploration program on at the Shanghai Project. The discovery of a new, high-grade gold anomaly over 700m in length, along with the highest-grade gold in soil samples collected on the property to date, demonstrates the vast potential of this project. The field work completed has provided a valuable insight into the area and will allow us to focus our efforts on further defining these anomalies.\" The gold in soil anomaly is thought to coincide with second order mineralized fluid pathways between the Robert Service Thrust and Tombstone Thrust, two major structural features of the region. Next steps will include detailed infill soil sampling and high-resolution geophysics focused on the newly discovered gold in soil anomaly. Quality Assurance/Quality Control Targa has contracted GroundTruth Exploration Ltd. to conduct its soil geochemistry program at the Shanghai Project. Field technicians navigated to pre-planned sample sites using handheld GPS units to collect C-Horizon soil...