Stakeholder Gold Corp. (“Stakeholder” or the “Company”) (TSX-V: SRC) announces the results from 18 holes of a planned 30-hole drill program completed on the Eastern Zone of the Ballarat property, Dawson Range, Yukon.
The program totaled just over 1,728 m (hole 16 was abandoned at 35 m) with all but two holes reaching 100 m depth. The holes targeted a combination of gold-anomalous soil samples and interpreted structures based on induced polarization and resistivity surveys over a formational strike length of 500 m, NE-SW. The gold-in-soil anomaly extends further to the northeast by at least another 100 m, but this area was not drill tested due to inclement weather conditions which resulted in this year’s planned drill program being cut short.
Several holes intersected isolated zones that ran up to 1.5 g/t gold in single samples (1.5 m), but bracketed by broader zones of <1 g/t gold material (up to 12 m). All holes except one were drilled inclined to the northwest or southeast, perpendicular to the formational strike and interpreted trend of the anomalies.
Further evaluation of these results will be done over the winter months to develop a strategy for 2017. As yet, the northeastern end of the Eastern Zone, the newly-discovered Skye zone, 1,500 m southwest of the Eastern zone, and the Northwest zone have not been drill tested. There are several new gold-in-soil targets that have been identified in 2016, which are located between the Northwest and Eastern zones.
The 2016 exploration program was designed and carried out by GroundTruth Exploration Inc. of Dawson City, Yukon.
Increased Ground Position
The Company staked an additional 168 claims in the most recent Quarter: 146 south of and 22 north of the Ballarat property; these new claims are contiguous with the existing ones (see diagram attached to this document).
Appointment of New Chief Financial Officer
Stakeholder is also pleased to announce the appointment, subject to TSXV approval, of Jaimie MacPherson as Chief Financial Officer effective as of December 14, 2016. Mr. MacPherson replaces Robert Lelovic, who will resign from his position as Chief Financial Officer effective as of December 14, 2016. Stakeholder would like to thank Mr. Lelovic for his hard work, dedication and contributions during his tenure at the Company and wishes him all the best in his future ventures.
Mr. Jaimie MacPherson is a chartered accountant with over 25 years of experience servicing businesses in the public and private market. He is the President of the MacPherson Group of Companies, one of which is a boutique accounting firm that provides CFO and other back office services primarily to junior mining and other small multinational companies. Prior to starting the MacPherson Group, he was the Chief Financial Officer of a private equity group with committed capital of nearly $5 billion which invested in high tech companies based in the United States. He is a former KPMG manager and holds a B.A. in Economics from Princeton University.
John Nebocat, P.Eng is a Qualified Person under NI 43-101 and has reviewed and approved the technical portions of this news release.
About Stakeholder Gold Corporation
Stakeholder Gold Corp. is a Canadian mineral exploration company headquartered in Toronto, Canada. The primary focus of Stakeholder is to explore and develop the Ballarat Gold Property in the White Gold District of the Yukon Territory.
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.
For more Stakeholder Gold Corp. information, please contact
Christopher J. Berlet, CFA
President & CEO
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 of this release.
Forward-Looking Statements: This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words “estimate”, “project”, “anticipate”, “expect”, “intend”, “believe”, “hope”, “may” and similar expressions, as well as “will”, “shall” and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the prevailing price of natural gas, the Canadian-United States exchange rate, amount of gas produced that could affect revenues and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Company’s annual financial statements and MD&A.