Update on Phase II Program at Ballarat—RAB Drilling to Commence.
Stakeholder Announces Financing and Board Update.
Stakeholder Announces close on $1.2M Financing.
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.
The program included infilling soil grids at the Northwest zone and testing the extent of gold-anomalous regional soil samples collected at the Eastern zone in 2011; a total of 159 and 374 soil samples were collected at the Northwest and Eastern zones, respectively. Fifteen lines of DC IP/resistivity were surveyed at the Northwest zone and six lines of GT Probe sub-soil rock sampling (425 samples) were completed. A drone survey was flown over the entire property to provide detailed topographic base and DEM imagery.
The Eastern zone target area has been significantly enlarged. What originated as just 6 contiguous, gold anomalous ridge & spur soil samples has been expanded to an area at least 600 m northeast-southwest by at least 300 m northwest-southeast; the gold anomaly remains open to the northeast (see attached figure).
Two float rock samples of quartz feldspar biotite gneiss collected from the Eastern zone, strongly altered with quartz, sericite and ankerite, yielded values of 0.759 g/t and 0.587 g/t gold. A grab sample of similarly altered gneiss, taken from a trench (now reclaimed) at the Northwest zone, ran 1.492 g/t Au.
At the Northwest zone, infill soil sampling between existing soil grid lines has confirmed the continuity of gold-in-soil anomalies along a northeast-southwest trend. An east-west trend that intersects the aforementioned trend has also been delineated. Trenching in 2010 tested only the southwestern and western ends of the two anomalous trends.
Six GT Probe survey lines tested the Northwest zone, four of which were located either side of the 2010 trenches over an apparent strike length of 400 metres. Highly anomalous gold-in-soil anomalies are found within this area. These anomalies have not been adequately tested by trenching. The GT probe returned anomalous rock samples east and northeast of the trenches, supporting the interpreted trends in these directions. Due to steep terrain, the GT Probe was not able to test all of the lines which had initially been proposed northeast of the trenches.
An immediate program of geophysical and GT Probe surveying is planned for the newly expanded Eastern zone anomaly. This will be followed by rotary air blast (“RAB”) drilling at both the Northwest and Eastern zones.
Mr. John Nebocat, V.P. Exploration, states, “The early results at the Eastern zone anomaly are extremely encouraging. The dispersion of the gold-in-soil anomalies suggests that a possible widespread mineralized body may exist here. Also, the currently proposed Coffee access road lies within 500 metres of this area; this could add significant upside potential and provide meaningful logistical advantages should an economic deposit be discovered here.”
The samples were packaged and shipped by GroundTruth to the Bureau Veritas laboratory in Whitehorse where they were crushed, dried, pulverized and screened. The resulting pulps were sent to the Bureau Veritas laboratory in Vancouver, B.C. where they were analyzed by multi-element ICP-MS technique following aqua regia digestion. The pulps of the rock samples were treated by fire assay fusion and analyzed by atomic absorption spectroscopy.
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
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