VANCOUVER, BC / ACCESSWIRE / March 25, 2024 / Relevant Gold Corp. (TSXV:RGC)(OTCQB:RGCCF) (the "Company" or "Relevant Gold") is pleased to report release of data from the 2023 airborne magnetics geophysical survey flown by the Wyoming Geological Survey (WSGS) and US Geological Survey (USGS). The regional survey covered the Company's entire 16,000-hectare portfolio of projects and reveals structural and geological detail far surpassing existing mapping (figure 1). Importantly, some of the most prominent anomalies highlighted by the survey are major structures at South Pass and Bradley Peak gold camps (Figure 2). The survey shows patterns very similar to those of Canada's Abitibi Gold Province and provides strong support for the Company's exploration thesis that Wyoming has Abitibi-style geology and gold potential.
Key takeaways from the magnetic data (see geophysics presentation):
- The magnetic data provides far more detail than existing regional geologic maps (figure 1).
- The overall results show strong similarities to the Abitibi Gold Province, especially the Red Lake, Hemlo, and Canadian Malartic districts.
- The magnetic data highlight the major Archean orogenic structures of Wyoming that coincide with historical mining districts.
- The magnetic data agree very well with the Company's detailed mapping.
- The two most prominent structural/magnetic anomalies are at Relevant Gold's South Pass and Bradley Peak camps.
- South Pass and Bradley Peak are clearly connected along a regional primary structure (figure 2).
- Secondary structures revealed at both South Pass & Bradley Peak camps coincide with known high-grade gold occurrences.
- The magnetics support Relevant Gold's target concepts and show where to tighten targets at South Pass (figure 4).
- The strength of the 100 km2 Bradley Peak anomaly strongly encourages expediting drill permitting (figure 3).
"The superb detail revealed by this government-sponsored survey is a huge step forward in understanding Wyoming's Archean geology, mirroring what's seen in Canada's prolific Abitibi Gold Province. A big thank you to the State of Wyoming and USGS for investing in mineral resource development in the state," said Brian Lentz, Relevant Gold's Chief Exploration Officer. "These initial processed results really strengthen Wyoming's connections to the Abitibi while showing that South Pass and Bradley Peak lie on Wyoming's structural Main Street - giving us some of the best discovery opportunities in the state. We look forward to more detailed processing of the data to see what else it can show us, but Bradley Peak appears to be a monster 100 km2 structural trap which coincides closely with high-grade targets we recently generated; we look forward to accelerating exploration there!"
Figure 1. Modified Geologic map of Wyoming (Love and Christiansen, 1985) with the vertical derivative of the 2023 airborne magnetics survey overlain (geophysics data published by USGS, 2024).
Figure 2. Regional airborne magnetic vertical derivative interpolation map (geophysics data published by USGS, 2024) with major structural features, high-grade targets, and the Company's two primary gold camps highlighted.
About the Survey
This survey was funded jointly by the State of Wyoming and the US Geological Survey as part of the Earth Mapping Resources Initiative (aka Earth MRI) and is the first of three regional aerial geophysical surveys being conducted in Wyoming (figure 1).
Magnetic and radiometric data was collected over approximately 3,300 square miles (~854,000 hectares) in central Wyoming using 200m spaced flight lines-it includes Relevant Gold's entire ~16,000 ha landholdings (Press Release - May 24, 2023). Airborne geophysical surveys are commonly employed in gold-bearing Archean terranes like the Abitibi of Canada. The technique can "see" through extensive cover and reveal remarkable details of the major geology and structural trends that control gold mineralization. Data produced from the Wyoming survey provides a much clearer picture of the geology and highlights targets within both the South Pass and Bradley Peak gold camps (figures 1 and 2).
The magnetic survey data provides clear resolution on the nature and extent of major Archean crustal-scale structures and highlights important related secondary structures. Understanding these structural features is critical in gold exploration as they are the primary controls for orogenic gold emplacement. Some of the most notable geophysical signatures within the survey highlight the South Pass and Bradley Peak areas (figure 2). This high-resolution geophysical data ties very well to the detailed mapping completed by the Company in both gold camps where regional geologic data is limited.
In 2023, the company completed an initial mapping and rock chip sampling program at Bradley Peak identifying 3 new district-scale targets. The rock chip sampling returned high-grade results, highlighted by 5.3 g/t Au, 107 g/t Ag, and 6.25% Cu (see full Press Release - Nov 7, 2023). The geophysical survey outlines the structural trap for these targets in the center of a major 100 km2 anomaly (figure 3). The survey illustrates a very large (100 km2) fold hinge structure developed off the crustal-scale Oregon Trail Structural Belt affecting Archean rocks including, iron formation, mafic greenstones, mafic intrusives, felsic intrusives, komatiites, and others. This rock assemblage and type of structure is known as the primary host for numerous gold deposits in the Abitibi, with strong similarities to the Red Lake district and Hemlo districts.
Over South Pass the magnetic data illustrates numerous major structures cutting Relevant Gold's property and agrees closely to the Company's detailed mapping and high-grade gold targets (figure 4). Importantly, this data confirms the Company's model for South Pass and continues to tighten targets throughout the camp. The geophysical signatures, geology, and mineralization at South Pass display strong similarities to the Canadian Malartic region along the Cadillac-Larder Lake deformation zone in the southern Abitibi gold belts (geophysics presentation). The Company will begin more detailed processing of the data for each property area, with ground truthing based on mapped geology to tease out key details and connections between the geology and gold.
Figure 3. Regional airborne magnetic survey vertical derivative map of Bradley Peak Gold Camp with Relevant Gold's high-grade gold targets, select assays, and major structures highlighted.
Figure 4. Regional airborne magnetic survey vertical derivative map of South Pass Gold Camp with Relevant Gold's high-grade gold targets, select assays, and major structures highlighted.
Qualified Person
All technical information has been reviewed by Mr. Brian Lentz, CPG, who is the Chief Exploration Officer and Qualified Person for the Company according to the 43-101 disclosure requirements.
About Relevant Gold Corp.
Relevant Gold Corp. is a North American gold exploration company founded by experienced exploration geologists and operated by a highly respected team with a proven record of significant value creation for shareholders. Relevant Gold is focused on the acquisition, exploration, discovery, and development of district-scale gold projects in the state of Wyoming - one of the most mining-friendly jurisdictions in the United States and globally.
On behalf of Relevant Gold Corp.,
Rob Bergmann, Chief Executive Officer
More information
For further information about Relevant Gold Corp. or this news release, please visit our website at www.relevantgoldcorp.com or contact Rob Bergmann, President and CEO, or Kristopher Jensen, Manager of Investor Relations, at 763-760-4886 or by email at investorrelations@relevantgoldcorp.com.
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 release.
Cautionary Note Regarding Forward-Looking Statements and Historical Information
This news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws. These statements relate to future events of Relevant Gold Corp. ("Relevant" or "Relevant Gold" or "the Company"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions) are not statements of historical fact and may be forward-looking information. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend and does not assume any obligation, to update any forward‐looking information except as required by law. This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
The scientific and technical contents of this release have been approved by Mr. Brian C. Lentz, CPG #11999, Chief Exploration Officer of the Company, who is a "Qualified Person" as defined by Canadian National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Lentz is not independent of the Company.
SOURCE: Relevant Gold Corp.
View the original press release on accesswire.com
