Vancouver, December 11th, 2019 – Gaia Metals Corp. (the “Company”) (TSX.V: GMC) (OTCQB: RGDCF) (FSE: R9G) is pleased to announce that it has initiated a review and re-processing of existing induced polarization and resistivity (“IP-resistivity”) survey data collected historically across the Corvette-FCI Property’s East and West blocks.
IP-resistivity is a ground geophysical survey well suited to detect near-surface disseminated sulphide mineralization (IP anomalies) as well as areas of alteration and/or silicification (resistivity anomalies). This geophysical tool is commonly used in greenstone hosted gold and base metal exploration and is often effective at qualifying drill targets initially developed from surface mapping and sampling. With the mineralization styles identified at Corvette-FCI, coupled with the thin overburden cover in the area, IP-resistivity offers an efficient sub-surface scan at good resolution and reasonable cost.
The reprocessing will be completed on the original raw data collected during the surveys, made available by O3 Mining Inc. As IP acquisition technology has not changed significantly over the last two decades, a re-processing of the historical survey data using modern techniques, including 3D inversions, is a cost-effective approach to maximize the value of the existing dataset, and at minimal cost compared to data re-acquisition.
The original survey work was completed by Géola Conseil en Exploration on behalf of Virginia Gold Mines Inc. over two primary grids: Golden Gap (FCI West), and Island Lake (FCI East). The Golden Gap grid was completed in 1998 and extends southeast from the Golden Gap Prospect to the Tyrone-T9 Showing (44.2 km over 26 lines). The Island Lake Grid was completed in 2000 and extends across a majority of the FCI East claim block, including the Lac Bruno boulder field area (32.6 km over 39 lines). See Figure 1 below. Both survey grids used a dipole-dipole configuration (a = 25, n = 1 to 5). Numerous IP targets that were generated using the original interpretation remain to be drill tested over both grids, further highlighting the value in modern re-processing to prioritize the targets.
The modern re-processing of the historical IP-resistivity dataset is anticipated to be followed with new data acquisition along the Maven Trend, extending east across the Lac Smokycat-SO (1.75% Cu, 1.47 g/t Au, and 40.5 g/t Ag), Lorraine (8.15% Cu, 1.33 g/t Au, and 171 g/t Ag), and Elsass (3.63% Cu, 0.64 g/t Au, and 52.3 g/t Ag) occurrences, where no survey data was collected historically. This new survey is currently being planned and is anticipated to be completed during the spring 2020, ahead of further ground mapping and sampling scheduled for the June-July period.
Figure 1: Location of historical IP-resistivity grids
In addition to the IP-resistivity work, a structural analysis of the 2005 airborne magnetic survey data will also be completed to identify primary and secondary structures that may control gold mineralization. The survey, carried out by Geophysics GPR International Inc. using their HeliMAGer system, was flown by helicopter at a tight 75 m spacing and covers a large majority of the FCI West claim block, all of the FCI East claim block, and some areas of the Corvette claim block located between. Existing regional magnetic data over the entire Corvette-FCI Property will also be incorporated to further support the analysis.
The re-processing of the historical IP-resistivity and heliborne magnetic surveys will be carried out by Dynamic Discovery Geoscience Ltd., based out of Ottawa, ON., an experienced geophysical group which is well-versed in Quebec greenstone geological settings and related mineralization styles. The 2019/2020 exploration of the Corvette-FCI Property is being carried out by Dahrouge Geological Consulting Ltd. and managed out of Quebec.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Vice President of Exploration for the Company, a Permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Gaia Metals Corp.
Gaia Metals Corp. is a junior mineral exploration company focused on acquiring and advancing strategic and prospective properties that position it strongly for the worlds continuing shift to high tech and green technologies including base and precious metals, and lithium.
The Company’s primary assets are the wholly owned Corvette Property and the FCI Property (held under Option from O3 Mining, a recent spin-out from Osisko Mining, for a 75% interest) located in the James Bay Region of Quebec. The properties are contiguous and host significant gold-silver-copper-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC, the Golden Silica Property, BC, and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
On Behalf of the Board of Directors,
Adrian Lamoureux, President & CEO
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 news release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.