Innisfil, Ontario, July 26th, 2017 – GOOD Mining Exploration Inc. (Private Corporation in the Province of Ontario)
Good Mining Exploration Inc. (“GMEI” or the “Company”), is pleased to announce the release of its first completed NI 43-101 Property of Merit Technical Report on its Golden Target Project. Co-authored by SGS Mineral Services Geostat Canada (“SGS”), of Blainville Quebec, and Sierra Geological Consultants Inc. (“Sierra”) of Sudbury, Ontario, the technical report outlines the results and findings of the geological work performed on the project in 2015 and 2017. The work included prospecting, geophysical survey, diamond drilling, sampling and certified analysis. The Golden Target Project currently consists of 89 mining claims totalling 13,296 hectares (133 Km2). The project is located on the Arrow Fault, which is possibly a southern splay from the prolific Destor-Porcupine Fault, which hosts the Golden Arrow gold mine of Victoria Gold Mines East Timmins Limited, and borders the GMEI property. The Company’s Golden Target Project has shifted its focus toward gold exploration since 2015, based on the geological work performed by professional geologists and contractors. The area hosts many nearby gold occurrences and gold mines in this mineral rich zone of the Timmins/Matheson Ontario mining camp. As described in the conclusions of the NI 43-101 report, SGS and Sierra have reviewed the geological setting and mineralization styles of the Golden Target Project. They have determined that the GMEI Golden Target Project lies within a prospective geological and structural setting for orogenic gold mineralization. Anomalous gold results returned from prospecting, grid sampling, and also from diamond drilling warrant further exploration. The most encouraging result came from grab samples off the outcrop from the C1 showing which returned fire assays and subsequent check assays, including full screen fire assay metallic analysis, of up to 13.3 grams per ton gold. This isolated finding was of interest because the quartz vein where the sample was taken, in places, carries substantial pyrite mineralization and mineralized gabbroic clasts, which is consistent with the area gold occurrences. As a result, five follow-up drill holes were performed in spring of 2017 on the C1 target, which failed to return significant gold values. However, the structure remains untested along strike. During prospecting, several other quartz veins samples which returned several grams per ton gold are also untested to date.
*See table for sample locations, sizes, descriptions and lab results
SGS Canada Inc. Mineral Services Suite E – 3260 Production Way Burnaby, BC
t(604) 638-2349 f(604) 444-5438 www.sgs.com
Actlabs Activation Laboratories Ltd. 1010 Lorne Street Unit West 4 Sudbury, ON t(705) 586-3288 f(905) 648-9613 www.actlabs.com
To read more, please see the “Golden Target Project NI 43-101 Technical Report”
Further extensive exploration work is planned on the project including an approved 10,000-meter drill program, of which 996 meters were completed in spring of 2017. The work credit assessment report from the 2017 prospecting, drilling, geophysical survey, sampling and analysis campaign is pending Ministry approval prior to release.
References: Golden Target Project, Matheson – Ramore Region, Ontario NI 43-101 Technical Report for GOOD Mining Exploration Inc. prepared for GOOD Mining Exploration Inc., effective date April 19, 2017, by Jean-Phillipe Paiement, M.Sc., P.Geo and Joel Scodnick, B.Sc., P.Geo. Current Golden Target Project Geologist is Jerry Grant, M.Sc., P.Geo – Project Geologist, Geological and Analytical Consultant.
GMEI news releases are available in the ‘GMEI News’ tab on GMEI’s website at www.goodmining.com
Jerry Grant, M.Sc., P.Geo., Golden Target Project Geologist, is the Company’s acting qualified person as defined by National Instrument 43-101. Mr. Grant was not a co-author of the NI 43-101 report, however currently acts as Project Geologist for the Company. He has reviewed and approved the contents of this news release.
GOOD Mining Exploration Inc. is a privately-owned Junior Mining Exploration Company established and registered in the Province of Ontario, Canada, in October of 2012. The Company is involved primarily in prospecting, staking of claims, and the subsequent registration of those claims to acquire the mineral rights on high potential parcels of land in Northern Ontario. Further to that, advanced exploration techniques such as geophysics, diamond core drilling, channeling, pitting and trenching are executed as may be indicated.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.
For more information, contact:
Frank Dusome, President & CEO, GOOD mining Exploration Inc., Port Severn, Ontario, 705-716-5948
Daniel Shepherdson, Executive Vice President, CFO & Corporate Secretary, Innisfil, Ontario, 905-252-3230
To visit the website, click: GMEI website