Message from the President
“Receiving our exploration permit for Swan is a big step toward advancing the Atsutla Gold Project. We now have the capability to be more aggressive with our exploration efforts in order to advance the Swan target.” – Daithi Mac Gearailt
Swan Target Description
The Swan target is located in the eastern Atsutla Gold Property area, in northern BC. Swan is a potential gold-silver-copper (Au-Ag-Cu) porphyry system, defined by a 900 m by 700 m Au-Ag-Cu-arsenic (As) – antimony (Sb) – molybdenum (Mo) – lead (Pb) soil geochemical anomaly along a gossanous ridge. The host setting is a leucogranite porphyry intrusion with argillic and phyllic alteration assemblages. Bedrock sampling by Trailbreaker in the centre of the soil anomaly has returned values up to 11.5 g/t Au and 16.8 g/t Ag.
Historic IP surveying around the Swan target took place in the valley west of the soil anomaly. This work focused on a molybdenum anomaly associated with a semi-circular chargeability high. This chargeability feature partially wraps around the soil anomaly, but the survey dimensions do not cover the entire anomaly. Additionally, IP surveying will be valuable in identifying potential chargeability highs, which may indicate high sulphide content and associated alteration zonation. As well, resistivity characteristics may help vector toward felsic intrusive centers and high-density quartz veining which would indicate the potassic core of a porphyry system.
Figure 1: Highlights of the Swan target include the strong Au geochemical anomaly, phyllic and argillic alteration zones, and the partial chargeability high ring feature defined from a historic IP survey.
About the Atsutla Gold Project
The Atsutla Gold project covers over 40,000 hectares of underexplored and prospective ground in northwestern BC. The project covers a portion of the Atsutla mountain range 70 km south of the BC-Yukon border. Placer gold was recorded in the area during the early 1900s, with very little subsequent mineral exploration.
The project is centered over the crustal-scale Teslin-Thibert fault system that marks the division between the Quesnel and Cache Creek terranes. Gold mineralization is associated with Mesozoic intrusive batholiths that are the predominant geological unit on the property. Trailbreaker has discovered five significant zones of gold mineralization across the property. These are:
About Trailbreaker Resources
Trailbreaker Resources is a mining exploration company focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. Trailbreaker is committed to continuous exploration and research, allowing maintenance of a portfolio of quality mineral properties which in turn provides value for shareholders. The company has an experienced management team with a proven track record as explorers and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c66345bd-85aa-42bb-a466-fe24fe4ce990
Trailbreaker Resources Ltd. (TBK.V) ("Trailbreaker" or "the Company") is pleased to report geochemical results from the 2023 surficial exploration program at their Castle Rock property on northern Vancouver Island, British Columbia (BC).
Highlights from the surficial exploration program include:
Message from the President
"Our grassroots exploration efforts at Castle Rock have continued to build upon a showing with limited previous exploration, and are quickly developing this into a compelling project with multiple targets. Castle Rock is a great testament to our tried-and-true exploration methodology which has proven to add value to our portfolio of early-stage exploration projects. We are excited to continue to advance Castle Rock, along with the rest of our portfolio." – Daithi Mac Gearailt
Figure 1: Soil geochemical anomalies and highlighted rock and moss-mat samples from the 2023 surface sampling program, overlain on interpretation of the regional airborne magnetic survey. Sampling defines a 3 km gold-in-soil trend which includes the Heart zone and newly defined Watchtower and Kokummi zones. Rock sampling has confirmed historic values at the Flan zone and defined an open gold-in-soil anomaly. Additionally, anomalous moss-mat samples in the southeast and eastern portions of the property have defined new areas of potential mineralization, leading to additional claim staking.
Heart, Watchtower, and Kokummi zones (3 km long soil trend)
Rock and soil geochemical sampling and prospecting successfully defined a three-kilometre gold-in-soil trend with multiple >30 ppb gold anomalies, centered on the previously known Heart showing. The Heart showing was discovered in 2012 and consists of a brecciated granodiorite dyke containing 5 to 10% pyrite-chalcopyrite. Historic chip sampling returned assays of 2.0 g/t Au over 30 metres 1 .
During the 2023 surface campaign, rock samples collected from an outcrop 175 m north-northwest of the Heart showing returned assay results up to 2.2 g/t Au. These samples were collected from a strongly oxidized granite, very similar to the main Heart zone showing. Additionally, gossanous basalt containing pyrite was sampled in outcrop 80 m east-northeast of the Heart showing, and returned assay results up to 2.2 g/t Au.
Soil sampling near the Heart showing expanded the continuous gold-in-soil anomaly, defining the Heart zone to approximately 1,150 m in strike length and up to 300 m in width.
A new multi-sample gold-in-soil anomaly, the Watchtower zone, was identified approximately 325 m to the southwest of the Heart showing. No previous sampling had been conducted in the area prior to 2023. The anomaly remains open to the south and west. This may represent an additional mineralization centre near the Heart zone.
A second newly identified gold-in-soil anomaly, the Kokummi zone, was defined to the south-southeast of the Heart zone. This anomaly is on strike of the Heart zone and is defined by gold-in-soil values >30 ppb along multiple soil sampling lines, defining a >600 m strike length.
Flan zone
Historic sampling at the Flan zone returned assays up to 135 g/t Au in boulders 2 . Sampling during 2023 was designed to confirm the presence of mineralization and to define a bedrock source. Gossanous float material sampled at the Flan zone confirmed high-grade gold mineralization, with assays up to 42.1 g/t Au and 1.93% Cu. As well, basalt-hosted semi-massive pyrite-chalcopyrite-pyrrhotite sampled in outcrop returned assays up to 3.1 g/t Au. It is believed that this outcrop-hosted mineralization is associated with the float samples, and that similar mineralization may occur under vegetative and/or till cover. The Flan zone lies at the intersection of two magnetic lineaments. This structural intersection may be an important control of gold mineralization.
The Flan zone occurs on the western extent of the soil geochemical grid. However, another gold-in-soil anomaly was defined from the 2023 sampling approximately 500 m north of the outcrop mineralization at the Flan zone. The anomaly is defined by >30 ppb gold-in-soil, and remains open to the west and north.
Reconnaissance sampling
To assess potential mineralization outside of the primary area covered by soil sampling, moss-mat sampling, targeting additional drainages on the property, was employed. Moss-mat sampling is used as a reconnaissance style sampling method, similar to stream sediment sampling, providing indications of metal content within a drainage and providing a vector for the location of mineralization.
Two areas returned multiple moss-mat samples with greater than 10 ppb gold. The first area is in the southeastern portion of the property, near the postulated contact of the Kokummi stock and the Karmutsen basalts. The second area is within a valley that drains from the eastern flank of Mt. Adam. This valley, which has not undergone any exploration work, is marked by magnetic lineaments, similar to those at the Heart-Kokummi soil trend. Additional claims were staked in this area to cover all drainages potentially causing these elevated moss-mat samples.
Future Work Recommendations
Future work at the Castle Rock property will be focussed toward continuing to define the extent of mineral potential on the property, as well as advancing individual targets toward initial drill testing. This work will include permitting to conduct advanced exploration activities, additional surface geochemical work, and geophysical surveying.
About the Castle Rock property
The Castle Rock property covers 3,108 hectares of land, approximately 70 km northwest of Campbell River, BC on northern Vancouver Island (Figure 1). It was acquired by Trailbreaker in 2022 and was recently consolidated through an option agreement with Cazador Resources Ltd. (see August 8, 2023 news release ). Trailbreaker conducted initial exploration assessment work in 2022 and followed up with a second surface exploration program in 2023 (results are contained in this news release).
The claims cover five BC Minfile occurrences on a district-scale structure that is >5 km-long, with newly identified gold ± copper-enriched intrusions. These Minfile occurrences are relatively new discoveries, mostly due to access created by recent logging activity.
Northern Vancouver Island is host to several large Cu-Au porphyry deposits, including Northisle's Hushamu deposit (Inferred Resource of 5.57 Moz AuEq) 3 , and BHP Billiton's past producing Island Copper porphyry copper deposit (produced >2.7 B lb Cu and >1.0 Moz Au) 3 .
At the Castle Rock property, gold is dominantly hosted in Jurassic granodiorite dykes which have been emplaced along a regional-scale fault zone separating Lower to Middle Triassic Daonella Bed sedimentary rocks from Upper Triassic Karmutsen Formation basalts.
About Trailbreaker Resources
Trailbreaker Resources is a project generator focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. We are committed to continuous exploration and research, allowing us to maintain a portfolio of quality mineral properties which in turn provides value for our shareholders. The company has an experienced management team with a proven track record as project generators and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company's projects, please visit Trailbreaker's website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker's tweets at Twitter.com/TrailbreakerLtd , use the ‘Contact' section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com .
References
1) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20399
2) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20396
3) https://cmscontent.nrs.gov.bc.ca/geoscience/PublicationCatalogue/InformationCircular/BCGS_IC2014-04.pdf
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
A photo accompanying this announcement is available at
News Provided by GlobeNewswire via QuoteMedia
Trailbreaker Resources Ltd. (TBK.V) ("Trailbreaker" or "the Company") is pleased to provide a company update on exploration activities during the 2023 field season, and on our continued efforts to build shareholder value.
2023 was an active year for Trailbreaker, with work conducted across a wide array of our projects. Work included the filing of an NI 43-101 technical report on the Atsutla project, optioning out of a portion of the Eagle Lake property, drill testing on the Eakin Creek project, conducting surface exploration at the Golden Sable and Castle Rock projects, and conducting a site visit at the Sheldon project. As well, the technical team was bolstered by the appointment of a new position of Vice President of Exploration. Work towards permitting of projects in order to conduct drill testing is ongoing. As well, the technical team is actively engaged in conducting project generation to bring new highly prospective properties into the Trailbreaker portfolio. Trailbreaker intends to carry the momentum from this year's activities into 2024, and to continue to build on the 2023 exploration successes.
Message from the President
"Thank you to our base of loyal shareholders who have continued to believe in and support our exploration approach through a tough metals market. We are excited to be advancing numerous projects and are looking forward to an active 2024 exploration season. We are also excited about the ongoing target generation that our technical team has been engaging in, which we feel will continue to add highly prospective projects into our pipeline." – Daithi Mac Gearailt
2023 Exploration Activities
Click the hyperlinks below for more information on each project, news release, or presentation.
Atsutla : Prior to the start of the field season, Trailbreaker filed an NI 43-101 technical report for the Atsutla project, located in northwestern BC (see news release dated May 15, 2023 ). The technical report and accompanied structural geology report with drill recommendations, provide a geological framework and clear exploration methodology to advance the Atsutla project. There is strong potential both for intrusion-hosted auriferous quartz veins in the western portion of the property, where rock samples assayed up to 630 g/t gold (Au); and for porphyry copper-gold (Cu-Au) mineralization at the Swan zone, where rock samples returned up to 11.7 g/t Au.
Eagle Lake : Trailbreaker optioned out a portion of the Eagle Lake project, located in central BC, to Vizsla Copper. These four claims abut Vizsla Copper's Woodjam project (see news release dated June 12, 2023 ). Vizsla Copper has the option to acquire a 100% interest in the four optioned claims by issuing an aggregate of 400,000 common shares to Trailbreaker over three years. Trailbreaker and Teck Resources Ltd. retain a combined 2% net smelter return (NSR) royalty on these claims. Trailbreaker retains the prospective Moffat zone portion of the Eagle Lake project, where historic drill results returned grades up to 3.52 g/t Au over 9.9 m. Also at the Moffat zone, a 2022 MMI (mobile metal ion) soil survey defined an 850 x 700 m gold-copper-silver-molybdenum (Au-Cu-Ag-Mo) anomaly.
Eakin Creek : Trailbreaker's field season began with a successful diamond drill program at the Eakin Creek project, south-central BC (see news release dated September 5, 2023 ). Gold was intersected in all eleven drillholes, highlighted by intervals including: 1.0 m of 14.3 g/t Au in hole EC-23-02; 3.0 m of 2.42 g/t Au in hole EC-23-01; and 15.7 m of 0.32 g/t Au in hole EC-23-05. This drill program represented a successful and cost-effective first pass test of a highly prospective target, with 2,039 m of drilling completed for less than CAD$500k. Additional drilling is recommended to expand the known extent of mineralized zones.
Golden Sable : Surface work at the Golden Sable project, south-central BC, extended the gold-in-soil anomaly to 4 km in length (see news release dated September 14, 2023 ). The Golden Sable project was newly acquired by Trailbreaker (see news release dated May 29, 2023 ). The project was subsequently explored by Trailbreaker, focusing on a previously identified significant gold-in-soil anomaly. This anomaly is locally supported by 2018 drill results, including 24.0 m of 0.83 g/t Au, in turn including a sub-interval of 4.0 m of 2.4 g/t Au. Outcrop exposure on the property is limited, and no follow-up drilling along the gold-in-soil anomaly has occurred, leaving a majority of the highly prospective anomaly untested.
Sheldon : A site visit to the Sheldon project, central Yukon, confirmed historic gold-in-rock values, as well as numerous key geological features indicating a potential "reduced intrusion-related gold system" (RIRGS). Rock samples collected in an area hosting abundant sheeted quartz veins containing arsenopyrite and bismuthinite, near the contact of the Sheldon Stock granite and hornfels sedimentary rocks, returned assays up to 6.48 g/t Au. The site visit confirmed the geological model, presence of high-priority targets, and supported our exploration approach to be applied at the Sheldon property. An updated project presentation may be found on our website.
Castle Rock : Trailbreaker announced the acquisition of the Castle Rock property, northern Vancouver Island, BC, through a combination of claim staking and a partnership agreement with Cazador Resources (see news release dated January 20, 2023 ). The property was subsequently consolidated through a secondary agreement with Cazador Resources, giving Trailbreaker the option to gain a 100% interest in the property (see news release dated August 8, 2023 ). A surface exploration program, consisting of 497 soil samples, 50 rock samples, and geological mapping, was completed at Castle Rock. This program followed up on the 2022 gold-in-soil anomaly identified near the gold-rich Heart porphyry prospect, and on historic rock samples at the Flan zone (see news release dated September 25, 2023 ). Assay samples for this work are still outstanding and will be reported separately once received.
Vice President of Exploration : In addition to Trailbreaker's field exploration activities, Dillon Hume, M.Sc., P.Geo., joined the team as the Vice President of Exploration in July, 2023. Mr. Hume brings a wealth of mineral exploration experience to Trailbreaker, having been involved in significant discoveries, including the East Ridge Zone at the Red Chris Cu-Au porphyry mine, and the Krakatoa Zone at the Kudz Ze Kayah VHMS deposit. Mr. Hume completed an M.Sc. degree on the structural and mineralogical controls of gold mineralization at the Tajitos orogenic gold deposit in Sonora, Mexico, and is registered as a professional geoscientist in British Columbia. He brings a strong management and technical foundation to help propel Trailbreaker's exciting project portfolio.
Project Generation
Trailbreaker is continually conducting project generation, including reviewing projects that may add significant exploration potential and fit well within Trailbreaker's portfolio. Project generation is primarily focused on identifying underexplored and undervalued projects which the technical team feels have realistic potential for significant advancement. Project generation work is primarily focused on gold projects in British Columbia and Yukon.
Outlook for future work
Trailbreaker is preparing for another year of exploration across a suite of prospective projects. Surface work and geophysical surveys will be conducted at numerous properties to develop drill targets that could lead to significant discoveries. As well, the technical team is planning first-pass drill programs for several projects. Additional news on specific work programs can be expected through the winter and spring months, as these planning efforts solidify.
In addition to field work for 2024, the Trailbreaker team will be attending conferences over the winter months, including but not limited to: the AMEBC RoundUp conference from January 22-25, 2024 in Vancouver; the Prospectors and Developers Association of Canada conference from March 3-6, 2024 in Toronto; and the Kamloops Exploration Group Conference from April 9-10, 2024 in Kamloops.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company's projects, please visit Trailbreaker's website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker's tweets at Twitter.com/TrailbreakerLtd , use the ‘Contact' section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Telephone: 604 681 1820
Facsimile: 604 681 1864
https://www.TrailbreakerResources.com
https://twitter.com/TrailbreakerLtd.
News Provided by GlobeNewswire via QuoteMedia
Trailbreaker Resources Ltd. (TBK.V) ("Trailbreaker" or "the Company") is pleased to announce that it has completed a surficial exploration program at its Castle Rock property on northern Vancouver Island, British Columbia (BC).
The program consisted of the collection of 497 soil samples, 50 prospecting grab samples, and geological mapping. It was primarily designed to follow up on the channel sample and associated 400 m x 50 m gold-in-soil anomaly defined as the Heart zone in 2022.
Daithi Mac Gearailt, CEO of Trailbreaker, commented: "The program provided excellent coverage of the already robust gold anomaly at the Heart zone. This is a very recent discovery in an underexplored area of the Island. With the results in hand, we will have a more complete picture of the strike length of the anomaly and whether there are additional geochemical trends."
All assays for the program remain pending.
About the Castle Rock property
The Castle Rock property covers 3,108 hectares on Northern Vancouver Island, approximately 70 km northwest of Campbell River, BC (Figure 1). It was acquired by Trailbreaker in 2022 and was recently consolidated through an option agreement (see August 8, 2023 news release ).
The claims cover five BC Minfile occurrences along a district-scale structure that is >5 km long, with newly identified gold ± copper-enriched intrusions. These Minfile occurrences are relatively new discoveries, mostly due to access created by recent logging activity.
Northern Vancouver Island is host to several large copper-gold (Cu-Au) porphyry deposits including Northisle's Hushamu deposit (Inferred Resource of 5.57 Moz AuEq) 1 , and BHP Billiton's past producing Island Copper porphyry copper deposit (has produced >2.7 B lb Cu and >1.0 Moz Au) 1 .
At the Castle Rock property, gold is dominantly hosted in Jurassic granodiorite dykes emplaced along a regional-scale fault zone separating Lower to Middle Triassic Daonella Bed sedimentary rocks from Upper Triassic Karmutsen Formation basalts.
Figure 1: Location of the Castle Rock property on Vancouver Island 1 .
2023 exploration at the Heart and Flan zones
The Heart zone was the primary focus of the 2023 exploration program. The Heart showing (upon which the zone is centered) was discovered in 2012 and consists of a brecciated granodiorite dyke containing 5% to 10% combined pyrite and chalcopyrite. Historic chip sampling returned assays of 2.0 g/t Au over 30 metres 2 .
During 2022, Trailbreaker completed a channel sampling program at the Heart showing which returned values up to 0.68 g/t Au over 13.11 m, including a subinterval of 1.85 g/t Au over 2.92 m. A small soil geochemical survey outlined a 400 m x 50 m, northwest-southeast trending gold-in-soil anomaly. This is interpreted to represent the surface footprint of the gold-bearing dyke exposed at the Heart showing. Soil values up to 5.44 g/t Au were returned, and the anomaly remains open. This area is referred to as the Heart zone.
During the 2023 program, the exploration team expanded the soil grid, now covering 3.2 km x 1.5 km with 497 soil samples (see Figure 2). Additional prospecting was also done along trend of the Heart zone to explore for similar mineralization to that of the main Heart showing.
The soil survey was also extended to cover the Flan zone, located approximately 1.5 km west of the Heart zone. The zone was originally discovered in 2000 and comprises numerous high-grade boulders assaying up to 135 g/t Au 3 . Prospecting at the Flan zone during the 2023 program uncovered significant pyrrhotite-chalcopyrite mineralization hosted in a mafic volcanic unit. While the boulders were originally interpreted as sourced from the Heart zone, the mineralized volcanic rocks may represent a recently exposed bedrock source discovered in 2023 within 200 metres of the historic location of the boulders.
Figure 2: 2023 sample locations at the Castle Rock property with inset showing 2022 results at the Heart zone.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company's projects, please visit Trailbreaker's website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker's tweets at Twitter.com/TrailbreakerLtd , use the ‘Contact' section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com .
References
1) https://cmscontent.nrs.gov.bc.ca/geoscience/PublicationCatalogue/InformationCircular/BCGS_IC2014-04.pdf
2) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20399
3) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20396
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
| Trailbreaker Resources Ltd. | ||
| 650 W. Georgia Street, #2110 | ||
| Vancouver, British Columbia | ||
| Canada, V6B 4N9 | ||
| Telephone: | 604 681 1820 | |
| Facsimile: | 604 681 1864 | |
| https://www.TrailbreakerResources.com | ||
| https://twitter.com/TrailbreakerLtd. | ||
Photos accompanying this announcement are available at:
News Provided by GlobeNewswire via QuoteMedia
Trailbreaker Resources Ltd. (TBK.V) ("Trailbreaker" or "the Company") is pleased to announce results from its 2023 surficial exploration program at the Golden Sable property in south-central British Columbia (BC). Efforts were focused on investigating a historic 3-kilometre-long gold-in-soil anomaly. The program was successful in extending the anomaly a further 1 kilometre to the southeast, where it remains open.
Daithi Mac Gearailt, CEO of Trailbreaker, commented: "This was an excellent first-pass evaluation of a property with known gold mineralization. There is a very significant gold-in-soil trend here, with historic drilling to verify the presence of gold mineralization in bedrock."
About the Golden Sable property
The 2,852-hectare Golden Sable property is located 75 km northeast of Kamloops, BC, and 20 km south of Bridge Lake, BC. It is easily accessible via Highway 24 and the Bonaparte Forest Service Road. Golden Sable comprises two main areas, Golden Sable (GS) East and GS West, which are contiguous (see Figure 1 and May 29, 2023 news release ).
The Golden Sable property covers an intrusion-related gold target. The claims lie within the Quesnel tectonic terrane that hosts many of British Columbia's active and past-producing gold mines. Middle to Upper Triassic Nicola Group volcanics and sedimentary rocks comprise the majority of the underlying bedrock geology. The property also straddles the margins of a large, early Jurassic hornblende-biotite granodiorite pluton with prevalent younger mafic and andesitic dikes.
From 2006 to 2013 Amarc Resources delineated the 3-kilometre-long soil anomaly on the GS West block, which was subsequently drill tested by Sable Resources in 2018.
The inaugural, 1,339-metre drill program conducted by Sable Resources on the GS West block encountered gold mineralization in 5 of 7 drill holes. Results include an intersection of 0.83 g/t gold (Au) over 24.0m, including 2.4 g/t gold over 4.0m. Gold mineralization was found to be associated with mafic and intermediate dike swarms trending northwest – southeast along the granitic contacts.
No follow-up drilling has been conducted to date, and the majority of the gold-in-soil anomaly remains untested.
Figure 1: Location of Trailbreaker's Golden Sable property.
Trailbreaker's 2023 exploration program
The 2023 surficial exploration program was designed to evaluate the quality of the historic soil sample locations, locate the historic drill holes, map and prospect available outcrops, and continue soil sampling to the southeast of the GS West historic gold-in-soil trend.
The program was successful in extending the GS West gold-in-soil anomaly 1 km farther to the southeast, where it remains open. Assaying of the soil samples within this trend returned values up to 242 ppb Au (see Figure 2).
A tightly-spaced soil sample grid was also performed over historic soil samples in the area of drilling to evaluate the consistency and quality of previous results. Assay results within this grid returned values up to 601 ppb Au and displayed a similar anomalous signature to that of the historic soil sampling, confirming the validity of the historic anomaly.
Geological mapping revealed outcrops of granite and andesitic dikes within the gold-in-soil trend. Significant pyrite mineralization occurs in the area of the historic drilling.
Figure 2: 2023 exploration at Golden Sable West.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
OTHER
For new information about the Company's projects, please visit Trailbreaker's website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker's tweets at Twitter.com/TrailbreakerLtd , use the ‘Contact' section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Telephone: 604 681 1820
Facsimile: 604 681 1864
https://www.TrailbreakerResources.com
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Maritime Resources (TSXV:MAE) is a Canadian gold development company advancing the fully permitted, high-grade Hammerdown project in Newfoundland & Labrador’s prolific Baie Verte mining district. A past-producing asset, Hammerdown is shovel-ready and de-risked, with construction underway and first ore deliveries to the Pine Cove Mill anticipated between late summer and early fall 2025.
Hammerdown is uniquely positioned to capitalize on existing infrastructure, with close access to paved roads, power, ports, and Maritime’s wholly owned Pine Cove processing facility. Unlike many greenfield developers, Maritime is pursuing a low-capex, staged production strategy—leveraging its established infrastructure and skilled local workforce to reduce costs, mitigate risk, and fast-track value creation through near-term cash flow generation amid record-high gold prices.
Hammerdown project siteLooking ahead, Maritime Resources aims to establish a 100,000 oz/year production platform by integrating nearby deposits—including Orion, Stoger Tight, and Deer Cove—and reactivating its 700 tpd Nugget Pond gold plant. The company’s extensive regional land package spans over 435 sq km of highly prospective terrain, with strong potential for gold, VMS, and porphyry-style mineralization.
This Maritime Resources profile is part of a paid investor education campaign.*
Click here to connect with Maritime Resources (TSXV:MAE) to receive an Investor Presentation
Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to report additional diamond drill results from the Road Cut Zone at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from these holes continue to strengthen the Company's understanding of the key structural controls that define this prospective target area.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250710272213/en/
Figure 1: Road Cut Zone Drill Hole Locations and Simplified Geology
The Company also completed an initial test of the gap between the Road Cut and Jagger Zones, confirming the presence of the interpreted structure. Additionally, the Company has provided an outline of its next exploration priorities as it advances plans for its next phase of drilling and regional target work.
Diamond Drill Results – Highlights:
Road Cut Zone:
Edward Gosselin, CEO and Director of Kobo commented: "Our latest drilling has outlined additional strong gold mineralization at the Road Cut Zone, highlighting its scale and the consistency of grades and widths we are seeing along strike and down dip. Importantly, these results build on our understanding of the structural setting at Kossou and will help guide how we advance the Road Cut Zone in parallel with the Jagger Zone, including the structural corridor between the two targets."
He continued: "With this phase of diamond drilling now complete, our team is focused on advancing a larger, systematic program to further define the Jagger, Road Cut and Contact Zones, test the potential connection of the gap between these Jagger and Road Cut Zones, and expand our footprint to new targets identified at the Jagger South area and the underexplored western portion of the permit. Based on the work completed to date, we remain confident in the scale and continuity of mineralization at Kossou and believe the project continues to demonstrate significant potential as we move towards the next phase of drilling and a maiden Mineral Resource Estimate."
Road Cut Zone Results
Results from six diamond drill holes at the Road Cut Zone have been received. Holes KDD0088 to KDD0090 were drilled on three sections (RCZ725 to RCZ775) (see Figure 1) to test gold mineralization associated with diamond drill hole KDD0056 , which previously returned 10.0 m at 4.57 g/t Au ( see press release dated January 30, 2025 ).
KDD0090 intersected two zones of strong gold mineralization: an upper intercept of 9.75 m at 1.69 g/t Au , including 1.0 m at 11.20 g/t Au , highlighting the high-grade nature of the cross-cutting V2 veins within the dominant northerly trending shear systems. The second intercept, 11.0 m at 2.88 g/t Au from 140.0 m, including 3.0 m at 8.25 g/t Au from 143.0 m, supports the continuity of high-grade mineralization within a previously identified structure (see Figure 2). Results from KDD0088 and KDD0089 , which returned 3.5 m at 2.33 g/t Au from 81.0 m, illustrate the variability of gold grades within the well-defined shear zones at the Road Cut Zone. These mineralised zones remain open at depth and will be targeted in future drilling.
A second set of holes, KDD0091 to KDD0093 (see Figure 3), targeted an area of artisanal mining previously trenched and sampled by the Company, which returned strong gold mineralization including trench KTR070 with 28.0 m at 4.44 g/t Au and trench KTR069 with 6.0 m at 2.50 g/t Au ( see press release dated December 5, 2023 ). Previous diamond drilling on this target also confirmed strong mineralization, including hole KDD0012 , which intersected 11.0 m at 1.71 g/t Au from 50.0 m ( see press release dated July 11, 2024 ).
All drill holes intersected significant gold mineralization, highlighted by KDD0091 , which returned 15.55 m at 2.30 g/t Au from 123.0 m, including 8.30 m at 3.43 g/t Au from 126.0 m. The mineralized zone is characterized by strong shearing within the basaltic host rocks, cross-cut by a series of V2 and V1 veins that are strongly altered and host gold mineralization that was consistent throughout the interval. This zones shows excellent continuity from surface down dip on the section RCZ500 (see Figure 4). Additional drilling is being planned to test these structures to the north and south along strike of shear zone and to depth.
Testing Structural Corridor Between Jagger and Road Cut Zones
One hole, KDD0087 , was drilled within the interpreted structural corridor between the Road Cut and Jagger Zones. The hole intersected a well-defined shear zone near surface but did not return significant gold mineralization. The presence of the shear structure provides further support for Kobo's geological interpretation in this area. Additional drilling is planned to continue assessing the potential structural linkages and mineralization continuity between these two high-priority targets.
Soil Geochemistry to Define Targets: South Jagger and Western Kossou Permit Area
The Company has extended detailed infill soil geochemistry across the South Jagger Zone, collecting 270 samples to date. Previous infill sampling on a 25 m by 25 m grid proved effective in defining drill-ready targets at the Road Cut, Jagger and Kadie Zones further north. The South Jagger soil anomaly, which consistently returned values up to 1000+ ppb Au, now extends over a distance greater than 2 km, reinforcing its potential for follow-up drilling.
In addition, recent soil geochemical surveying has outlined a new northwest-trending anomaly of over 400 m in the western portion of the Kossou Permit, with individual sample results returning values up to 1,380 ppb gold. These results further support systematic target definition and demonstrate the upside potential across less-explored portions of the permit.
Update on Regional Exploration: Kotobi Permit
At the Kotobi Permit, the Company has collected 1,942 soil samples to date, with additional results pending. Recent work has defined a 50+ ppb gold-in-soil anomaly extending over 400+ m of strike length, with individual samples returning between 370 ppb and 1,420 ppb Au. Follow-up pitting and trenching are currently underway to better define this anomaly and assess its potential for future exploration work.
Earn-In Agreement: NESDAVE MINING
Regional scale soil geochemical sampling is underway at the Akoboissue Permit (PR0970). Information meetings are underway with local village chiefs and elders with respect to the Annépé Permit (PR0973) and regional scale soil geochemical sampling is expected begin shortly.
Next Steps: Preparing for Expanded Drilling and maiden Mineral Resource Estimate at Kossou
With this current phase of drilling now complete, the Company's exploration and technical team is integrating the latest drill data into detailed geological models to refine its understanding of the structural controls at the Jagger and Road Cut Zones. This work will directly inform the Company's next major drill campaign, which is anticipated to comprise more than 15,000 m of additional diamond drilling and begin in H2 2025. This expanded program will prioritize systematic step-out and deeper drilling at the Jagger Zone to support preliminary resource modelling, continue expansion drilling at the Road Cut Zone, and follow up on the interpreted structural corridor between the two zones.
Further, the Company plans to advance the Contact Zone with targeted drilling based on structural mapping completed to date and begin testing new targets on the western side of the Kossou Permit, supported by recent soil geochemical results indicating a strong northwest-trending gold anomaly. This methodical approach is designed to build on the Company's drilling success to date, advance the potential for a future maiden Mineral Resource Estimate, and support the Company's broader strategy to unlock value within Côte d'Ivoire's highly prospective Birimian gold belt.
Table 1: Summary of Significant Diamond Drill Hole Results
| BHID | East | North | Elev. | Az. | Dip | Length |
| From (m) | To | Int. | Au | Target |
| KDD0087 | 228681 | 775702 | 278 | 70 | -50 | 113.00 | NSR | Jagger | ||||
| KDD0088 | 228495 | 775956 | 289 | 70 | -50 | 173.00 | 55.00 | 57.00 | 2.00 | 0.88 | RCZ | |
|
|
|
|
|
|
|
| 81.00 | 84.50 | 3.50 | 2.33 | RCZ | |
|
|
|
|
|
|
|
| 119.00 | 120.00 | 1.00 | 3.32 | RCZ | |
|
|
|
|
|
|
|
| 143.00 | 144.00 | 1.00 | 1.61 | RCZ | |
| KDD0089 | 228487 | 775979 | 283 | 70 | -50 | 179.00 | 59.00 | 62.00 | 3.00 | 0.56 | RCZ | |
| KDD0090 | 228500 | 775931 | 294 | 70 | -50 | 182.00 | 67.25 | 77.00 | 9.75 | 1.69 | RCZ | |
|
|
|
|
|
|
|
| incl. | 68.90 | 74.00 | 5.10 | 2.93 | RCZ |
|
|
|
|
|
|
|
| incl. | 68.90 | 70.00 | 1.00 | 11.20 | RCZ |
|
|
|
|
|
|
|
| 104.00 | 105.00 | 1.00 | 1.67 | RCZ | |
|
|
|
|
|
|
|
| 140.00 | 151.00 | 11.00 | 2.88 | RCZ | |
|
|
|
|
|
|
|
| incl. | 140.00 | 146.00 | 6.00 | 4.66 | RCZ |
|
|
|
|
|
|
|
| incl. | 143.00 | 146.00 | 3.00 | 8.25 | RCZ |
| KDD0091 | 228480 | 776270 | 244 | 70 | -50 | 161.00 | 28.00 | 33.00 | 5.00 | 3.05 | RCZ | |
|
|
|
|
|
|
|
| 123.00 | 138.55 | 15.55 | 2.30 | RCZ | |
|
|
|
|
|
|
|
| incl. | 126.00 | 138.55 | 12.55 | 2.77 | RCZ |
|
|
|
|
|
|
|
| incl. | 126.00 | 134.30 | 8.30 | 3.43 | RCZ |
| KDD0092 | 228529 | 776261 | 226 | 70 | -50 | 116.00 | 88.00 | 94.00 | 6.00 | 2.05 | RCZ | |
|
|
|
|
|
|
|
| 104.00 | 106.00 | 2.00 | 0.67 | RCZ | |
|
|
|
|
|
|
|
| 112.00 | 115.00 | 3.00 | 0.76 | RCZ | |
| KDD0093 | 228510 | 776307 | 225 | 70 | -50 | 116.00 | 76.00 | 82.00 | 6.00 | 1.58 | RCZ | |
|
|
|
|
|
|
|
| 106.05 | 114.00 | 7.95 | 0.43 | RCZ | |
| Notes: Cut-off using 2.0 m at 0.30 g/t Au Intervals are reported with no more than 3 m of internal dilution of less than 0.3 g/t Au except where indicated* | ||||||||||||
An accurate dip and strike and controls of mineralisation are unconfirmed and mineralised zones are reported as downhole lengths. Drill holes are planned to intersect mineralised zones perpendicular to interpreted targets. All intercepts reported are downhole distances.
Sampling, QA/QC, and Analytical Procedures
Drill core was logged and sampled by Kobo personnel at site. Drill cores were sawn in half, with one half remaining in the core box and the other half secured into new plastic sample bags with sample number tickets. Core samples are drilled using HQ core barrels to below the level of oxidation and then reduced to NQ core barrels for the remainder of the bore hole. Samples are transported to the SGS Côte d'Ivoire facility in Yamoussoukro by Kobo personnel where the entire sample was prepared for analysis (prep code PRP86/PRP94). Sample splits of 50 grams were then analysed for gold using 50g Fire Assay as per SGS Geochem Method FAA505. QA/QC procedures for the drill program include insertion of a certificated standards every 20 samples, a blank every 20 samples and a duplicate sample every 20 samples. All QAQC control samples returned values within acceptable limits.
Review of Technical Information
The scientific and technical information in this press release has been reviewed and approved by Paul Sarjeant, P.Geo., who is a Qualified Persons as defined in National Instrument 43-101. Mr. Sarjeant is the President and Chief Operating Officer and Director of Kobo.
About Kobo Resources Inc.
Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Côte d'Ivoire, one of West Africa's most prolific and developing gold districts, hosting several multi-million-ounce gold mines. The Company's 100%-owned Kossou Gold Project is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region's largest gold mines with established processing facilities.
With over 18,500 metres of diamond drilling, nearly 5,900 metres of reverse circulation (RC) drilling, and 5,900 metres of trenching completed since 2023, Kobo has made significant progress in defining the scale and prospectivity of its Kossou's Gold Project. Exploration has focused on multiple high-priority targets within a 9+ km strike length of highly prospective gold-in-soil geochemical anomalies, with drilling confirming extensive mineralisation at the Jagger, Road Cut, and Kadie Zones. The latest phase of drilling has further refined structural controls on gold mineralisation, setting the stage for the next phase of systematic exploration and resource development.
Beyond Kossou, the Company is advancing exploration at its Kotobi Permit and is actively expanding its land position in Côte d'Ivoire with prospective ground, aligning with its strategic vision for long-term growth in-country. Kobo remains committed to identifying and developing new opportunities to enhance its exploration portfolio within highly prospective gold regions of West Africa. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience. Kobo's common shares trade on the TSX Venture Exchange under the symbol "KRI". For more information, please visit www.koboresources.com .
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary Statement on Forward-looking Information:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Kobo assumes no obligation and/or liability to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250710272213/en/
For further information, please contact:
Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
ir@kobores.com
Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.
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With a fully permitted, high-grade gold project, established infrastructure and first gold production on the horizon, Maritime Resources is set to become Atlantic Canada’s next gold producer, positioning the company for significant re-rating and long-term growth.
Maritime Resources (TSXV:MAE) is a Canadian gold development company focused on generating near-term cash flow from the Hammerdown gold project, a high-grade past-producer in the prolific Baie Verte mining district of Newfoundland & Labrador. The project is fully permitted, de-risked and shovel-ready, with construction underway and first ore deliveries to the Pine Cove Mill expected in late summer to early fall 2025.
Hammerdown project site
Hammerdown benefits from significant infrastructure synergies, including proximity to paved roads, power, ports and Maritime’s wholly owned Pine Cove processing facility. Unlike many greenfield developers, Maritime is executing a bootstrap production model that leverages its installed infrastructure and local skilled labor to reduce costs, minimize risk and accelerate value creation through short term cash flow generation during a period of record high gold prices
Longer term, the company plans to build out a 100,000 oz/year production platform by incorporating nearby deposits (Orion, Stoger Tight, Deer Cove) and utilizing its idle 700 tpd Nugget Pond gold plant. Maritime’s regional land package includes more than 435 sq km of highly prospective ground with gold, VMS, and porphyry-style mineralization potential.
The Hammerdown gold project is Maritime’s flagship asset and is strategically located near the town of King’s Point in the Baie Verte mining district of Newfoundland and Labrador. A past-producing, high-grade deposit formerly operated by Richmont Mines, Hammerdown is being redeveloped as a shallow open-pit operation. The project hosts proven and probable reserves of 1.89 million tonnes at an average grade of 4.46 grams per ton (g/t) gold for 272,000 oz of contained gold, making it one of the highest grade open pit projects in North America
A feasibility study completed in 2022 outlined annual production of approximately 50,000 oz over a 5-year mine life, with attractive economics including a pre-tax NPV (5 percent) of US$251 million at a gold price of US$2,500/oz and an all-in sustaining cost (AISC) of US$912/oz. Since then Maritime has taken steps to de-risk the project including acquiring the Pine Cove mill, allowing for significant savings in capital costs compared to using the Nugget Pond mill.
The processing plan entails crushing ore on site and trucking it approximately 130 km to the Pine Cove Mill. Maritime has completed all major permitting for the project, and construction began in spring 2025 with pre-stripping, civil works and crushing infrastructure installation. The company completed more than 8,750 meters of tight-spaced (10x10 meters) grade control drilling, confirming excellent continuity and high-grade intercepts such as 24.5 g/t gold over 13.9 meters, including 42.2 g/t over 8.0 meters. First gold production is expected in late summer to early fall 2025, with ramp-up to 700 tpd mill feed supported by the fully operational Pine Cove Mill.
Pine Cove gold pour
Located near Baie Verte, the Pine Cove Mill is a 1,300-ton-per-day gold processing facility recently brought back online after two years of care and maintenance. The mill flowsheet includes crushing, grinding, flotation, regrinding of the float concentrate and Merrill-Crowe leaching circuits for gold doré production. The facility will be upgraded with a new 500 hp regrind circuit (replacing a 150 hp unit), a ball mill inching drive, and an enhanced material handling system to optimize recovery and reliability. The site also includes a large in-pit tailings storage facility, existing waste dump capacity, and access to a deepwater port. Pine Cove has already produced 700oz of gold from processing low grade mineralized stockpiles from around the site. The mill is now preparing to receive and process feed from Hammerdown, with full integration scheduled for H2/2025.
Nugget Pond Gold Circuit
Maritime also owns the 700 tpd carbon-in-pulp (CIP) gold circuit at the Nugget Pond Plant, located 40 km east of Pine Cove. Although currently idle, this plant represents a key component of Maritime’s long-term production strategy to scale toward 100,000 oz per year. The plant is fully configured for gold recovery and is well-positioned to process feed from future regional deposits or third-party toll milling. Maritime’s envisions Nugget Pond operating as a second production hub, enabling parallel processing capacity as the company develops additional deposits in the district.
Located within 10 km of the Pine Cove Mill, Stoger Tight and Deer Cove are advanced-stage deposits with near-term development potential. Stoger Tight hosts a historical NI 43-101 resource of 642,000 tons grading 3.02 g/t gold for 62,300 oz (indicated), with an additional 53,000 tons at 5.63 g/t for 9,600 oz (inferred). It is partially permitted and has the potential to become a satellite source of ore for Pine Cove.
Deer Cove is a high-grade system discovered by Noranda, featuring 500 meters of historic underground development. Recent drill results include 6.9 g/t over 25.1 meters, including 26.1 g/t over 3.6 meters. Stockpiles of 4,275 tons at 3.1 g/t gold have been identified. Both projects benefit from road access and proximity to infrastructure, making them ideal candidates for phased development and integration into Maritime’s hub-and-spoke production model.
Maritime’s broader exploration portfolio includes more than 435 sq km of prospective ground in the Baie Verte district, encompassing gold, copper, VMS and porphyry-style targets. The Green Bay project includes the Orion deposit, a near-surface gold target located along strike from Hammerdown. Whisker Valley is an epithermal gold system with porphyry potential, returning 6.2 g/t gold over 5.8 meters in previous drilling. El Strato hosts one of the highest-grade soil and bedrock anomalies in Newfoundland, with gold values up to 200 g/t in outcrop. Additionally, the Black Ridge VMS target features grab samples grading up to 12.6 g/t gold, 181 g/t silver, and 11.8 percent copper. These regional assets offer significant blue-sky potential and provide a robust pipeline of targets that could be developed and processed through Maritime’s existing infrastructure.
Garett Macdonald is a mining engineer with over 30 years of experience in mine development, engineering and operations. Former VP operations at Rainy River Resources, where he advanced the 8 Moz Rainy River project to construction prior to its $310-million sale to New Gold. He also served as VP project development at JDS Mining, leading the Curraghinalt feasibility study (+5 Moz gold), and held technical and management roles at Placer Dome, Teck and Suncor Energy.
A chartered accountant with more than three decades of financial leadership in the mining sector, Germaine M. Coombs is the former CFO of Aurelius Minerals and Stonegate Agricom, and former corporate controller at FNX Mining and the Iron Ore Company of Canada.
Perry Blanchard brings over 25 years of experience in health, safety and environmental leadership across major Canadian mining projects. Blanchard previously managed permitting and sustainability at Detour Gold’s flagship mine and Vale’s Voisey’s Bay operations.
Peter Goudie is a veteran operations leader with over 35 years of experience in mining and contracting, including roles with Guy J. Bailey and Shoreline Aggregates. He manages day-to-day operations at the Hammerdown project, with deep knowledge of logistics, mobile equipment and site execution in Newfoundland’s mining sector.
Dwight Goudies is a mill operations specialist with over 40 years of metallurgical and processing experience at gold and base metal mines across Newfoundland and Labrador. He is the former mill manager at FireFly Metals and Rambler Metals & Mining’s Nugget Pond facility, and currently oversees all operations at the Pine Cove Mill.
A mining engineer with more than 15 years of experience in mine engineering, project management and consulting, Billy Grace is the former general manager at Aureus Gold, and technical services manager at Newmont’s Musselwhite mine. He also worked at Golder Associates and Mining Plus.
Larry Pilgrim is an exploration geologist with more than 45 years of experience in Newfoundland. He is the former chief geologist at Richmont Mines and Rambler Metals, where he helped delineate the original underground reserves at Hammerdown and served as chief geologist during mine operations. He has been leading exploration activities for Maritime since 2018.
Eric Tremblay is a highly regarded mine builder with over 30 years of operations experience. He is the former GM at Osisko’s Canadian Malartic Mine and IAMGOLD’s Westwood and Sleeping Giant operations. Tremblay is currently the COO of Dalradian Resources, leading the multi-million ounce Curraghinalt gold project in Northern Ireland. Tremblay provides Maritime with expertise in mine construction, operational scale-up and technical risk management.
Paolo Toscano has over 30 years of experience in engineering and construction. He most recently served as senior vice-president of engineering and construction for Calibre Mining at the Valentine gold project in Newfoundland and Labrador. Prior to Calibre, he was director of projects for Alamos Gold and New Gold.