Gossan Resources Limited
Gossan Drilling Underway at Sturgeon Lake VMS Zinc Project
DGAP-News: Gossan Resources Limited / Key word(s): Miscellaneous Winnipeg, Manitoba–(Newsfile Corp. – February 26, 2018) – Gossan Resources Limited (TSXV: GSS) (FSE: GSR) has commenced drilling at its highly prospective Sturgeon Lake property, located in the eastern part of the historic zinc-rich polymetallic Sturgeon Lake VMS Camp of Northwestern Ontario. Four distinct high-priority, multi-parameter volcanogenic massive sulphide (VMS) target areas will be tested with a diamond drill program of up to 2,000 metres. Gossan’s Sturgeon Lake Property is comprised of a 14-claim block, totaling 3,088 hectares, which lies directly along strike and to the east of six historic VMS deposits. Management believes its Sturgeon property has the potential to host a significant zinc-copper-silver-rich VMS deposit, similar to those mined from 1970 to 1991 in the renowned base-metal camp, and which accounted for approximately 18.7 million tonnes of ore, with average grades of 8.0% zinc, 1.1% copper, 0.8% lead, 120 g/t silver and 0.5 g/t gold.
Dr. Hamid Mumin P.Geo., Director of Gossan, Qualified Person under National Instrument 43-101 reviewed and approved the scientific and technical data presented in this press release. PDAC Gossan will be represented Sunday, March 4th and Monday, March 5th, at booth 2615A in the Investors Exchange forum, at the 2018 Prospectors and Developers Convention (PDAC), located in the Toronto Convention Centre. About Gossan Gossan Resources Limited has a broadly diversified portfolio of multi-element properties prospective for hosting gold, platinum group elements and base metals, as well as specialty ‘green-battery metals’, vanadium, titanium, tantalum, lithium and chromium. Gossan also has a large deposit of high-purity, magnesium-rich dolomite, and holds a $100,000-per-annum advance and production royalty interest in a frac sand deposit. All of Gossan’s mineral exploration and development properties are located in Manitoba and Northwestern Ontario. The Company’s main focus is the exploration of its zinc-rich polymetallic Sturgeon Lake Property, located in the Sturgeon Lake Greenstone Belt of Northwestern Ontario. The Company trades on the TSX Venture and the Frankfurt/Freiverkehr &Xetra Exchanges and currently has 33,580,400 common shares outstanding. Neither 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 news release. For further information please bookmark www.gossan.ca or contact: Douglas Reeson, Chairman & CEO Kathy Ringland, Office Manager
26.02.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Gossan Resources Limited |
Canada | |
ISIN: | CA3834151068 |
End of News | DGAP News Service |