Stakeholder Completes Phase I Exploration on Ballarat Project, Yukon
Stakeholder Gold Corp. (“Stakeholder” or the “Company”) (TSX-V: SRC) is pleased to announce that the Phase I exploration program on the Company’s Ballarat property, located in the Dawson Range, Yukon, has been completed. The Program was planned, executed and managed by GroundTruth Exploration Inc.
Induced polarization/resistivity and GT probe surveys were conducted on the Northwest Zone over a strike length of 1,800 metres. In-fill soil samples were collected where the terrain was not accessible with the GT probe.
The Eastern Zone, located about 7 km from the Northwest Zone, has been gridded and soil sampled; approximately 500 samples have been collected from that location. A follow-up program of geophysics and GT probe testing is planned once the results of the soil sampling have been received and reviewed, likely to be sometime after mid-July.
The Ballarat Project was recently visited by Company management. It has been determined that the previous drilling (5 holes) did not adequately test the Northwest Zone. Evidence from the trenches (2010) and the preliminary geophysical survey and GT probe analyses (XRF) indicate that the target zone(s) lie north and northwest of the holes drilled in 2012.
When results from the Phase I program have been compiled and reviewed, a rotary air blast (RAB) drilling program is planned to commence in early August.
The target at Ballarat, like many of the gold deposits in the Yukon Range, is a structurally-controlled (orogenic) type, hosted by moderate to high grade metamorphic rocks that have undergone subsequent large scale faulting and localized intrusion with accompanying hydrothermal alteration and mineralization.
On May 12, 2016, Kaminak Gold Corporation announced that Goldcorp Inc. had agreed to acquire the Coffee Gold Project by purchasing all of the outstanding Kaminak shares, a transaction value of CDN $520 million (Kaminak press release, May 12, 2016.)
The Coffee Deposit is located about 17 km southwest of the Northwest Zone on Ballarat.
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. This press release was reviewed and approved by Mr. Nebocat, (P.Eng), a qualified person as defined by NI 43-101.
For more Stakeholder Gold Corp. information, please contact
Christopher J. Berlet, CFA
President & CEO