Stakeholder Defines Surface Copper Values up to 683ppm and Extends Copper Anomaly Strike Length to 1.5km at Bass River
TORONTO, ONTARIO – (Sep 04, 2014) – Stakeholder Gold Corp. (“Stakeholder” or the “Company”) (TSX-V: SRC) is pleased to report on recent progress for the Bass River Exploration Project in Nova Scotia.
Initial work has focused on two specific, high priority geophysical targets which were delineated by ground and airborne surveys. These targets include the extensive gravity anomaly NS23, and a large cluster of Versatile Time Domain Electromagnetic (VTEM) anomalies defined along a corridor extending north east from NS23. The VTEM anomalies are referred to collectively as VT-BR-05. To date approximately 2,100 soil samples have been collected on grids covering each of these two independent geophysical targets.
At the NS23 gravity target, preliminary soil results have outlined a “B” zone soil copper anomaly extending approximately 1,500 meters in strike length. The copper anomaly is still open to the west and further investigative work is currently in progress. Both the northern and southern boundaries of this feature appear sharp and may be structurally related. LiDAR imagery further indicates that the copper anomaly lies on a linear structure which is parallel to the axis of the NS23 gravity anomaly. Copper concentrations up to 683ppm Cu have been returned. The copper anomaly is underlain by a sequence of mafic tuffs, metasediments, chert and felsic tuffs. Gravity high anomaly NS23 was previously identified as a high priority target by Minotaur Exploration Limited (Australia) who proposed 2 drill holes into the body to test for IOCG style mineralization. This recent detection of extensive copper in soils further corroborates the IOCG model and potential of this structure.
On the north flank of NS23 is the cluster of VTEM anomalies collectively called VT-BR-05. Prospecting, geological mapping and soil geochemistry has been successful in outlining extensive lead and zinc concentrations in “B” horizon soils. These anomalies are almost coincident, trending in a northerly direction, overlying and extending both north and south from the modeled VTEM targets. Lead and zinc concentrations in soils of up to 1,370 ppm and 643 ppm respectively have returned from samples taken in this anomalous area. Prospecting has also uncovered scattered lead and zinc mineralization associated with structurally controlled pyrite and pyrrhotite in bedrock which is adjacent to VTEM target VT-BR-05. Initial sampling of mineralization discovered within the geochemical anomaly returned 2.28% combined Pb+Zn. The target area is underlain by rhyolites, sheared metasediments and felsic tuffs. Two kilometers north along strike of this location, a sulphide rich sericitic porphyry has been located. Assays are pending.
Due to positive soil geochemistry detected in samples taken over VTEM target VT-BR-05, an additional airborne survey is now being scheduled to define the northern extent of the anomalies. The soil sampling grid is also being expanded in order to further define the extent of these anomalies. As part of the ongoing exploration on these targets, approximately 10km of ground geophysics (Pulse Electro-Magnetic surveys) will be carried out to refine the VTEM / geochemical targets prior to drilling.
The exploration program is being managed by Cogonov Inc. with oversight provided by their Technical Advisory Committee comprised of Dr. Tony Belperio (Minotaur Exploration Limited (Australia)), Dr. Murray Hitzman (Colorado School of Mines) and Dr. Clifford Stanley (Acadia University).
Samples from the exploration program were delivered to the AGAT Laboratories office in Dartmouth Nova Scotia, and then transported to their facility in Mississauga for analysis. Samples were analyzed using an aqua regia digestion with inductively-coupled plasma mass spectrometry (ICP-MS) finish.
Mr. Gary H. Lohman, B.Sc., P.Geo., and a Qualified Person under NI 43-101, 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, Ontario, Canada with the flagship property in Nova Scotia, Canada. The primary focus of Stakeholder is developing the Bass River Iron Oxide Copper Gold (IOCG) project which the company has optioned, located on the Cobequid-Chedabucto Fault Zone (CCFZ) in central Nova Scotia, Canada. The property is host to >100 mineral occurrences and small deposits of Iron-Oxide, Copper, Cobalt, Gold, Nickel and Barite, the CCFZ has only recently been recognized as a potential host for these deposit types. 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 information, please contact :
Christopher J. Berlet, CFA
President & CEO
Stakeholder Gold Corp.