Announcement • May 13
1911 Gold Corporation Confirms Extensions of the L10 Zone At True North Intersecting 11.54 G/T Gold over 3.70 M
1911 Gold Corporation provided assay results from the underground resource expansion drill program at the Company's wholly-owned operational and fully permitted True North Gold Project, located in southeast Manitoba, Canada. The latest assay results represent twelve drill holes for 3,608 metres from the underground resource expansion drill program on the L10 Zone, in an area located adjacent to Level 16 (720 m below surface, updated as per the recent survey data), one of the main levels of the True North Mine. Drilling targeted the extensions of mineralized veins outside of the current mineral resources (2024 MRE). Drilling on L10 intersected gold mineralization as extensions and outside of the 2024 MRE, on the V-1010, V-1012, V-1020, V-1030 and V-1040 veins and potentially linking L10 with the larger 710-711 Zone at depth. Drill results completed to date have potentially extended the gold mineralization up to 160 m down-plunge and up to 80 m along strike, with the following highlighted results: UG16-26-055: Intersected 5.48 grams per tonne gold over 9.20 m (at 195.50 m downhole depth), including 7.52 grams per tonne gold over 4.10 m, including 12.00 grams per tonne gold over 2.00 m, including 14.80 grams per tonne gold over 1.00 m; and including 9.13 grams per tonne gold over 0.60 m; UG16-26-055: Intersected 11.54 grams per tonne gold over 3.70 m (at 224.10 m downhole depth), including 13.65 grams per tonne gold over 2.30 m, and including 20.20 grams per tonne gold over 0.70 m; UG16-25-002: Intersected 3.00 grams per tonne gold over 7.20 m (at 163.70 m downhole depth), including 7.67 grams per tonne gold over 0.50 m and 6.44 grams per tonne gold over 0.80 m; UG16-26-055: Intersected 5.19 grams per tonne gold over 0.90 m (at 133.50 downhole depth); UG16-25-016: Intersected 6.89 grams per tonne gold over 1.30 m (at 44.30 m downhole depth), 6.84 grams per tonne gold over 0.70 m (at 48.90 m downhole depth), 22.10 grams per tonne gold over 0.60 m (at 56.30 m downhole depth), and 9.26 grams per tonne gold over 0.60 m (at 59.70 m downhole depth); UG16-26-050: Intersected 8.10 grams per tonne gold over 1.40 m (at 174.20 m downhole depth); UG16-25-001: Intersected 9.78 grams per tonne gold over 0.50 m (at 139.50 m downhole depth). The ongoing underground exploration drill program is targeting the extensions of the 2024 MRE resource, and new near-mine targets, including the down-plunge extensions of gold mineralization of the San Antonio Mine West, San Antonio Mine Southeast, and Shore targets, previously intersected from surface. This program is being conducted from existing drill bays located on Level 16 of the True North Mine. The 2026 underground drill program, including the infill and delineation drilling on areas anticipated for the early years of production within the PEA mine plan, anticipates upwards of 50,000 m of drilling. Results represent the first intercepts from the current resource expansion drill program, successfully extending mineralization and identifying a number of areas for additional growth potential which will warrant follow-up drilling. Additional results from the surface and underground exploration programs will be released as they become available, as well as results from the ongoing infill and delineation drill program. The L10 Zone is located on the intersection of the Shoreline Basalt unit and the regional east-west steeply north-dipping L10 Shear Zone, with gold-bearing mineralization associated with veins developed as generally north-west trending extensional stockwork and breccia veins and east-west steeply north-dipping shear veins. Veining is predominantly comprised of white quartz with accessory Fe-carbonate and albite, with sericite-pyrite and chlorite as veinlets and pervasive alteration halos. Gold is associated with minor pyrite and as free native gold. The L10 Shear Zone hosts a series of mineralized veins, including V-1010, V-1012, V-1020, V-1030 and V-1040, which are the primary targets of the current resource expansion program. The L10 Shear Zone also hosts the new SAM SE target, currently the focus of surface and underground exploration drilling within the San Antonio gabbro unit located approximately 500 m to the west. L10 hosts a current indicated resource of 363,000 tonnes at 4.99 grams per tonne gold for 67,000 ounces and an inferred resource of 479,000 tonnes at 3.96 grams per tonne gold for 61,000 ounces. 710-711 hosts a current indicated resource of 1,182,000 tonnes at 5.21 grams per tonne gold for 198,000 ounces and an inferred resource of 938,000 tonnes at 3.91 grams per tonne gold for 118,000 ounces. The L10 Zone is readily accessible via the main shaft along the Level 16 drift, and the L10 resource is open to approximately 200 m down-plunge to the NNE and over 200 m along strike to the NW towards the upper extent of 710-711, which appears to be the down-plunge extensions of L10, located in the same geological setting. Eleven of the twelve drill holes reported intercepted high-grade gold mineralization with the potential to expand the current resources and define new parallel veins, which represent targets for further evaluation. Drill holes UG16-26-050 and UG16-26-055 tested the down-plunge extension of the V-1010 vein up to 60 m beyond the current 2024 MRE. Drilling confirmed gold mineralization over a strike length of approximately 100 m. The down-plunge extension of the V-1012 vein was confirmed 160 m below the MRE 2024 by drill hole UG-26-055 which intersected 11.54 grams per tonne gold over 3.70 m (at 224.10 m downhole depth), including 13.65 grams per tonne gold over 2.30 m, and including 20.20 grams per tonne gold over 0.70 m. Drill holes UG16-25-001, UG16-25-002, and UG16-25-003 confirmed the down-plunge extensions of the V-1030 vein over 35 m to 90 m, where UG16-25-001 intercepted the vein at 217.30 m downhole depth, with no significant results. UG16-25-002 intersected 3.00 grams per tonne gold over 7.20 m (at 163.70 m downhole depth), including 7.67 grams per tonne gold over 0.50 m, and 6.44 grams per tonne gold over 0.80 m, with gold mineralization confirmed over a strike length of approximately 100 m. Drill hole UG16-25-002 also intersected 6.04 grams per tonne gold over 1.00 m (at 195.50 m downhole depth), and UG16-25-003 intersected 3.31 grams per tonne gold over 0.50 m (at 223.80 m downhole depth), which could represent a new parallel vein that warrants follow-up. Drill hole UG-25-001 intersected 9.78 grams per tonne gold over 0.50 m (at 139.50 m downhole depth), and UG-25-002 had two intercepts downhole, 3.62 grams per tonne gold over 1.00 m (at 183.90 m downhole depth) and 6.04 grams per tonne gold over 1.00 m (at 195.50 m downhole depth), which could represent new parallel veins that warrant follow-up.