September 18, 2020 – TheNewswire – London, Ontario – Goldseek Resources Inc. (CSE:GSK) (CNSX:GSK.CN) (“Goldseek” or the “Company”) is pleased to announce results from its maiden Phase 1 drill program on the Horizon property located approximately 7 kilometers north of the Hemlo mining camp. Five holes were drilled totaling 1,060 meters with three drill holes designed to test two near-surface IP chargeability conductors approximately 200 meters apart and the other two drill holes designed to test Maxwell plate conductors modeled from the VTEM resistivity depth images. Results of the program were encouraging as anomalous silver, zinc, lead, and copper occurred in four out of five holes drilled. Although the IP chargeabilty conductors were believed to be explained by abundant sulphides within rhyolites and graphitic argillites, the deep VTEM resistivity conductors are yet to be tested at depth and may be the source for the base metals encountered.
Goldseek’s President & CEO Jon Deluce states, “We are encouraged by our starting drill results from our maiden program. We have had previous success using downhole geophysics to narrow in deeper drill targets, and we believe this is a prudent step to consider before undertaking any further drilling. We also look forward to the results of our soil samples to define our drill targets in the southern half of the property. We plan to follow-up on our targets with a Winter 2020 drill program consisting of a deeper hole on Target C with further holes on Targets A & B based on the soil anomalies combined with the IP response.
Shareholders are reminded that the Hemlo deposit occurred at depth, so deep drilling is key to success in this camp. However, management is taking a capital-efficient approach conducting small programs to try to piece together where a potential deep source is to target.”
The Phase 1 holes were drilled primarily within metasediments including schistose biotitic and siliceous wackes, graphitic argillites, cherty laminated sediments (possible exhalites), and pink potassic sulphide enriched felsic volcanics (rhyolites) with carbonaceous bands hosting abundant pyrite and accessory pyrrhotite. Elevated zinc, lead, silver and anomalous copper over narrow widths were identified in 4 of the 5 holes drilled occurring within the graphitic argillites in holes 2 and 3 and immediately above the rhyolitic units within greywackes in holes 4 and 5.
Best results from GSK-20-02 include 4.3 g/t Ag, .30% Zn, .06% Pb and .03% Cu over 0.44 meters from 156.56 to 157.0 meters within graphitic argillites. The elevated responses with anomalous silver, zinc, lead and copper could be indicative of distal portions of a volcanogenic massive sulphide VMS environment
Goldseek plans to follow up on these initial results with deeper drilling to specifically target the VTEM resistivity depth target and is considering a TDEM (time-domain electromagnetic) borehole survey on its deepest drill hole in the previous program. Goldseek is also currently awaiting MMI geochemical soil sample results conducted on broader targets A and B in order to focus on more preferential targets corresponding to broad chargeability anomalies.
LOCATIONS, DIPS, AZIMUTHS AND HOLE LENGTHS Phase 1 2020 DRILL HOLES
|Hole ID||Easting UTM||Northing UTM||Length (m)||DIP||Azimuth|
RESULTS FROM 2020 HORIZON DRILLING
|Hole ID||From (m)||To (m)||Length (m)||Ag (g/t)||Zn (%)||Pb (%)||Cu (%)|
All technical information in this press release has been reviewed and approved by Peter Caldbick, P.Geo. Mr. Caldbick is a consultant for Goldseek and a Qualified Person for the purposes of National Instrument 43-101.
About Goldseek Resources Inc.
Goldseek Resources Inc. is a Canadian exploration company with a portfolio of assets in Ontario and Quebec, Canada. By identifying four projects in world-class mining locations, Goldseek is poised to deliver shareholder value through rigorous exploration and development on these properties. Our mission is to find the next major discovery in the mining camps of Urban Barry, Quevillon, and Detour Gold Trend in Quebec and Hemlo in Ontario.
ON BEHALF OF THE BOARD
Chief Executive Officer
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Goldseek Resources Inc.
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