1 August 2024
TORONTO, Ontario, August 1, 2024 – STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) (“STLLR” or the “Company”) announces assay results from the exploration drilling at the Colomac Gold Project in the Northwest Territories, Canada.
Table 1: 2024 Exploration Drilling Highlights – Colomac Main Deposit (See Figures 1-7):
|
Zone |
Hole ID |
Assay Result |
|
Colomac Main 2.5 |
C24-07 |
1.56 g/t Au over 62.30 m (incl. 2.83 g/t Au over 12.15 m and incl. 2.96 g/t Au over 13.50 m) & |
|
Colomac Main 3.0 |
C24-06 |
1.12 g/t Au over 99.40 m (incl. 2.44 g/t Au over 11.15 m) |
|
Colomac Main 3.0 |
C24-10 |
0.74 g/t Au over 35.25 m (incl. 11.40 g/t Au over 1.20 m) & |
“g/t Au”: grams per tonne gold; “m”: metres
Keyvan Salehi, P.Eng., MBA, President, CEO, and Director of STLLR stated: “Our drilling program at the Colomac Main Deposit continues to impress. The results show significant coarse gold intersections in areas lacking drill data and lying outside the 2023 Colomac PEA pit-shell[1] . We strongly believe in the immense mineral resource growth potential of the Colomac Main Deposit, which remains open in several directions. We are expecting additional assay results from Colomac in the coming weeks.”
Colomac Gold Project Drilling – Colomac Main Deposit (See Figures 1-7)
The Colomac Main Deposit, the primary deposit of the Colomac Gold Project, occurs in a north-south striking differentiated mafic sill, approximately 9 km long and up to 155 m wide, bounded by mafic volcanic rocks. Mineralization predominantly consists of free gold, associated with quartz-carbonate veining and minor sulphides.
The Colomac Main Deposit is divided into six mineralized zones along its strike. 2024 drilling focuses on the southern end (Zones 2.5, 3.0, & 3.5) of Colomac Main, targeting areas with limited drilling data and potential for higher-grade gold mineralization. This phase of drilling targeted Zones 2.5 and 3.0 below the 2023 Colomac PEA pit-shell1 . Significant mineralization was intersected near deep cross-cutting geological fault structures. Holes C24-07 and C24-06 encountered coarse gold within wider than expected intervals of mineralized quartz-diorite, the primary host rock for gold in the deposit. Hole C24-07 is a 70 m step-out to the north along strike from previously released Hole C24-05[2] , and, combined with previously released Hole C24-01[3], demonstrates a continuous mineralized zone over a 170 m strike length below the 2023 Colomac PEA pit-shell1. Additional drilling has tested the down-dip extension of this zone, with assay results pending.
Hole C24-10, located south of Hole C24-06, intersected lower-grade mineralization, ending with narrow, higher-grade intervals at depth. Hole C24-08 did not intersect significant mineralization due to an offset of the Colomac Main sill related to the deep cross-cutting geological structures.