TORONTO, June 22, 2020 – Hemlo Explorers Inc. (the “Company”) (TSXV: HMLO) is pleased to announce that field work and prospecting has commenced at the Company’s Marathon, Ontario area properties. The nearby Hemlo Gold Deposit has produced over 21 million ounces gold since 1985 and remains in operation today at Barrick’s Williams Mine. This is the first field season since the Company acquired 414 claims from O3 Mining Inc. (see press release dated June 2, 2020) which increased the size of the Company’s North Limb Project, and also included the Hemlo West property. The Company now has over 38,000 hectares of claims and is the largest claim holder in the Hemlo Camp.
The field team will be focusing on the Pic, North Limb and Hemlo West Projects for prospecting, mapping and data compilation in the early part of the field season. The North Limb Project has a geological setting akin to the prolific Hemlo deposit with drill hole intercepts of up to 37.35 g/t Au over 1 metre. Hemlo West is 15 kilometres west and on strike with the Williams Mine and 2.5 kilometres south of the Pic Project.
In late May, the Company commenced the start of a busy exploration campaign by completing a 460 line-kilometre high resolution magnetic airborne survey over a portion of the Pic Project, covering the Porphyry Lake and Contact Lake areas. This survey area is contiguous with the same high-resolution survey flown over Beggs Lake in 2018. These magnetic surveys help delineate stratigraphic boundaries and structural trends that are important to gold deposition at Beggs Lake, Wire Lake, Smoke Lake, Porphyry Lake, Contact Lake and Camp 27.
At the start of June, data compilation commenced to build 3D models for a better understanding of zone geometries and potential at North Limb, Wire Lake, Smoke Lake and Page Lake. This work is scheduled to be completed mid-summer and is anticipated to help generate targets for field follow-up and drill testing.
Additionally in June, a field program was started consisting of prospecting, mapping, and rock and soil sampling. The program will focus initially at the Beggs Lake Stock, a three-square-kilometre intrusive having multiple, mineralized fault-shear-fracture systems that trend northerly through the granodiorite–monzonite intrusive. Previous prospecting campaigns have discovered high-grade gold at the Lucky 13 trench, within the intrusive, having up to 100 g/t Au found in a grab sample of quartz veining along a fault-dyke contact. The 2018/2019 field programs found similar high-grade grab samples of quartz veining elsewhere around the edges of the Beggs intrusive with values of 109 g/t Au, 14.7 g/t Au, and 11.6 g/t Au at the ABC, Tibia and Goldshore occurrences respectively. This summer, Company geologists will follow-up on these discoveries to better understand geometry and the extents of mineralized structures. Follow-up ground geophysical IP surveys, overburden stripping, mapping and sampling over selected areas are anticipated to commence mid-summer. The goal of this field work, in combination with the compilation evaluations being undertaken, is to generate, refine and prioritize targets for a comprehensive drill program later this season.
“We are excited to have our crews back in the field to follow up on our prospecting successes from prior years, which included the discovery of multiple high-grade gold bearing veins around Beggs Lake (grab samples up to 109 g/t Au) and the new gold zone at Porphyry Lake. Our 2020 field season will focus considerable efforts on these newly discovered gold zones to improve our geological understanding of each trend, while also seeking to expand the known envelope of each,” said Brian Howlett, President and CEO of Hemlo Explorers.
Technical Information
Dan McCormack, P.Geo., Exploration Manager for Hemlo Explorers, is the “Qualified Person” as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for the accuracy of technical information contained in this news release.
About Hemlo Explorers Inc.
Hemlo Explorers is a Canadian-based mineral exploration company with a portfolio of properties in Ontario and Nunavut. We are focused on generating shareholder value through the advancement of our main Hemlo area properties, including: the North Limb, Hemlo West, and the Pic Project.
For more information please contact:
Brian Howlett, President & CEO
Hemlo Explorers Inc.
[email protected]
(647) 227-3035
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, exploration results, potential mineralization, statements relating to mineral resources, and the Company’s plans with respect to the exploration and development of its properties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Hemlo Explorers Inc., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing, exploration risk and Covid-19 pandemic related orders. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.