Vancouver, British Columbia--(Newsfile Corp. - September 20, 2019) - Affinity Metals Corp. (TSXV: AFF) ("Affinity Metals") ("the Corporation") is pleased to report that it has commenced exploration on the Regal Project located approximately 35 km northeast of Revelstoke, British Columbia, Canada. The program will include geological mapping, sampling, and up to 2,000 meters of diamond drilling testing several targets identified in preliminary work. The total amount of drilling in this phase of the program will depend on weather and on evaluating target potential and results as the program progresses. Drilling will begin in the ALLCO area of the property.
The extensive Regal property package spans 6,700 hectares in the northern end of the prolific Kootenay Arc and hosts several past producing small-scale historic mines. From the historic records it appears that most, and perhaps all, of the known mineralized showings/zones have not been previously drilled using modern diamond drilling methods.
Preliminary work conducted in the fall of 2018 included collecting a total of 20 grab and chip samples from several different areas on the property including around the old Regal Silver workings, in the Clabon Creek drainage and at a promising showing along a logging road cut several km to the west of the Regal historic workings. The samples returned values as high as 1,890 g/t silver with >20% lead, and 7.63% zinc. A one-meter chip sample from a 4 meter wide galena vein immediately outside the Regal Silver #5 adit yielded 1,040 g/t silver as well as greater than 20% lead and 3,580 g/t (0.358%) zinc. Results for all 20 samples are reported below:
|Sample Number||Sample Type||Silver |
Significantly, as a result of a recent, severe freshet event that totally scoured the upper Clabon Creek drainage, a series of numerous large mineralized boulders were exposed. Planned field work will include examination of the mineralization and host rock which will be invaluable in identifying the source of this mineable grade material (photo below). This float material is present in the creek drainage over a distance of approximately 3km indicating the strong potential for discovering new mineralized zones upstream and in the immediate area.
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Robert Edwards, CEO stated: "We are very excited to finally be able to begin exploration on the Regal Property in a meaningful way. It has taken considerable time and effort to assemble the vast amounts of historic geological data that has been accumulated on this project. Combining that data with our prospecting time spent on the ground to begin to test the many targets that have been identified should lead to some positive results for this drill program."
Property History & Background
The property hosts numerous mineral occurrences including the following past-producing mines:
Snowflake and Regal Silver (Stannex/Woolsey) Mines
The Snowflake and Regal Silver mines were two former producing mines that operated intermittently during the period 1936-1953. The last significant work on the property took place from 1967-1970, when Stannex Minerals completed 2,450 meters of underground development work and a feasibility study, but did not restart mining operations. In 1982, reported reserves were 590,703 tonnes grading 71.6 grams per tonne silver, 2.66 per cent lead, 1.26 per cent zinc, 1.1 per cent copper, 0.13 per cent tin and 0.015 per cent tungsten (Minfile No. 082N 004 - Prospectus, Gunsteel Resources Inc., April 29, 1986). It should be noted that the above resource and grades, although believed to be reliable, were prepared prior to the adoption of NI43-101 and are not compliant with current standards set out therein for calculating mineral resources or reserves. Samples ALLC18-1 to ALLC18-14 inclusive and ALLC18-20 were taken on and in the vicinity of The Regal/Snowflake historical mine workings during the 2018 preliminary exploration program.
ALLCO Silver Mine
The Allco Silver Mine is situated 6.35 Kilometers northwesterly (azimuth 300o) from the above described Snowflake/Regal Mine(s) but still part of the Affinity claim group.
The Allco Silver Mine operated from 1936-1937 and produced 213 tonnes of concentrates containing 11 troy ounces of gold (1.55 g/t), 11,211 troy ounces of silver (1,637 g/t) and 173,159 lbs of lead (36.9%).
Black Jacket Showing.
The Black Jacket showing was discovered by routine prospecting during 2008. Samples taken on the showing are numbered ALLC18-15 to ALLC18-19 inclusive. This is a raw prospect in that no technical work excluding sampling has been conducted on this showing. The showing is situated 10.3 kilometers westerly (azimuth 281o) from the historical Snowflake/Regal Mine.
Airborne Geophysics to Guide Future Exploration
An extensive airborne geophysics survey conducted by Geotech Ltd of Aurora, Ontario, for Northaven Resources Corp. in 2011, identified four well defined high potential linear targets correlating with the same structural orientation as the Allco, Snowflake and Regal Silver mines. Northaven also reported that the mineralogy and structural orientation of the Allco, Snowflake and Regal Silver appeared to be similar to that of Huakan International Mining Inc's J&L gold project located to the north, and on a similar geophysical trend line. The J&L is reporting a NI43-101 compliant resource of 9.9M tonnes containing 2.4M troz gold equivalent (combined measured, indicated and inferred) and is reportedly now one of western Canada's largest undeveloped gold deposits. Northaven failed in financing their company and conducting further exploration on the property and subsequently forfeited the claims without any of the follow up work being completed. Affinity Metals is in the fortunate position of benefitting from this significant and promising geophysics data and associated targets.
The aforementioned Northaven airborne geophysical survey conducted at a cost of $319,458.95 in August of 2011 is described in The BC Ministry of Energy, Mines and Petroleum Resources Assessment Report #33054. The results of the survey are competently explained and illustrated by professionals on You Tube at: https://www.youtube.com/watch?v=GX431eBY_t0
Affinity Metals has successfully obtained a 5 Year Multi-Year-Area-Based (MYAB) exploration permit which includes approval for 51 drill sites.
The qualified person for the Regal Project for the purposes of National Instrument 43-101 is Frank O'Grady, P.Eng. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
About Affinity Metals
Affinity Metals is focused on the acquisition, exploration and development of strategic metal deposits within North America.
The Corporation's flagship project and present focus is the Regal.
On behalf of the Board of Directors
Robert Edwards, CEO and Director of Affinity Metals Corp.
The Corporation can be contacted at: firstname.lastname@example.org
Information relating to the Corporation is available at: www.affinity-metals.com
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 release.
This news release contains forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Actual results could differ materially because of factors discussed in the Corporation's management discussion and analysis filed with applicable Canadian securities regulators, which can be found under the Corporation's profile on www.sedar.com. The Corporation does not assume any obligation to update any forward-looking statements.
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