Announcement • Jul 22
Forge Resources Corp. Completes Phase 1 Diamond Drilling Program And Targets Core Of Commission Zone Porphyry With Phase 2 At Alotta Project
Forge Resources Corp. has completed its Phase 1 diamond drilling program at the Alotta Project, located within Yukon's Dawson Range Gold Belt. Drilling operations were completed ahead of schedule and under budget, with the completion of four drill holes. Drilling at the Commission Zone intersected encouraging visual indicators of a high-temperature zone within the Alotta porphyry system, and the Company is now planning deeper Phase 2 drilling to test the interpreted core of the zone. Phase 1 total of 1829.24 m in four diamond drill holes within the Severance, Payoff and Commission zones. ALT-26-018, the deepest hole drilled on the project to date, returned porphyry alteration and mineralization indicative of a higher-temperature porphyry centre, with chalcopyrite and molybdenite mineralization, and magnetite-biotite alteration increasing at depth. The hole ended due to shallowing hole conditions at 565 m depth in strong stockwork veining. Assays for all four holes are pending and will be released after received from ALS labs, QA/QC review and interpretation. Phase 2 drilling will target the deeper portions of the Commission zone as well as a follow-up hole in the Payoff zone targeting previously identified extensive gold mineralization. The Phase 1 drilling program was successfully completed, totaling 1829.24 m from four diamond drill holes at Severance, Payoff and Commission zones. Drill core has been fully processed from three drill holes, with samples delivered to ALS Laboratories in Whitehorse, Yukon. Processing of the fourth hole is nearing completion and will be finalized imminently. Results from all holes are currently undergoing analysis from ALS, and results are pending. During Phase 1 drilling, Hole ALT-26-018, which tested the southern portion of a 3D magnetic anomaly at the Commission Zone, intersected widespread chlorite and secondary biotite alteration that strengthen with depth. Quartz veining increases from approximately 250 m downhole, becoming high-density stockwork from ~420 m to the base of the hole at 565 m, with visually increasing chalcopyrite, molybdenite and magnetite veining coinciding with the zone of stronger veining. The hole was terminated in altered and mineralized veining after being extended beyond its target depth. Phase 2 diamond drilling is planned to follow up on visually encouraging results from earlier drilling at the Commission Zone and gold results at the Payoff Zone from previous drilling campaigns. Drilling is currently underway at the Payoff Zone. At the Commission Zone, deep drill holes are planned to follow up the visual results of hole ALT-26-018 and test the deeper interpreted core in the area which, based on Phase 1 drilling, appears to coincide with quartz stockwork veining, an increase in chalcopyrite and molybdenite, and the presence of biotite and magnetite alteration towards the bottom the drill hole. Analytical work is being completed by ALS Canada Ltd., with sample delivery and preparation in Whitehorse, Yukon, and geochemical analysis in North Vancouver, British Columbia. Rigorous procedures are in place regarding sample collection and data entry. Certified assay standards, coarse reject duplicates, field duplicates and blanks are routinely inserted into the sample stream to ensure integrity of the assay process. Core is being sampled using a diamond core saw, with half of each interval sent to the lab for analysis and the other half retained. Half-core samples received at ALS are fine-crushed and a 250 g split was pulverized to better than 85% passing 75 microns. Gold was determined for core samples using a 50 g charge by fire assay followed by an atomic absorption spectroscopy finish (Au-AA24). The fine fraction was analyzed for 48 elements using a four acid digestion followed by inductively coupled plasma combined with mass spectroscopy and atomic emission spectroscopy finish (ME-MS61). The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and was reviewed and approved by Kelson Willms, P.Geo., of Archer, Cathro & Associates (1981) Limited. Mr. Willms is a Qualified Person for the purposes of National Instrument 43-101.
