Business
New Break Resources Pursuing Young-Davidson Model at Moray Gold Project
Toronto, Ontario--(Newsfile Corp. - February 27, 2023) - New Break Resources Ltd. (CSE: NBRK) ("New Break" or the "Company") is pleased to report on the results
About this update from New Break Resources Ltd.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - February 27, 2023) - New Break Resources Ltd. (CSE: NBRK) (\"New Break\" or the \"Company\") is pleased to report on the results and findings at its Moray gold project, which appear to support the Company's thesis of pursuing a Young-Davidson gold mineralization model at Moray. The Young-Davidson gold mine, operated by Alamos Gold Inc. (\"Alamos\"), is located approximately 32 km southeast of Moray. First discovered in 1916, the mine produced one million ounces of gold from 1934 to 1957 from open pit and underground development. Commercial production resumed in 2012, with current annual gold production sitting at just under 200,000 ounces. Ore extraction at Young-Davidson has historically been derived from both the hosting mafic volcanics and the syenite intrusive rocks. New Break's Moray property exhibits comparable geology, mineralization and alteration characteristics to Young-Davidson, including mafic volcanic hosted and syenite hosted auriferous quartz vein zones. Strong pervasive hematitic-potassic alteration and secondary fracture-controlled pyrite mineralization associated with stockwork quartz and quartz-carbonate veining occurs within the Fiset syenite at the historical Trench 1 (Fiset Area) on the Moray property. Mafic volcanic hosted quartz vein zones have been outlined in Trench 12 at the contact of the Fiset syenite. Exploration activities undertaken by New Break between June and October 2022, has significantly expanded on the previous trenching and stripping work completed by SGX Resources Ltd. (\"SGX\") in 2012. New Break's 2022 trenching efforts have uncovered an 80-metre-long mineralized section of N-S trending, moderately west dipping, extensional quartz veining in Trench 12 as well as marginally extending the main NE striking, shallow NW dipping shear-breccia vein system. Stripping and trenching at Trench 1 has exposed altered and mineralized quartz veining to the west and to the north, expanding the known mineralized zone hosted within the Fiset syenite. Additional sampling was conducted during September and October 2022 (see September 29, 2022 news release for the results of July and August trench 12 grab and channel samples, which included a grab sample grading 70.6 grams per tonne gold (\"g/t Au\") located at the south end of the main trench 12). Gr...