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Stewart, British Columbia--(Newsfile Corp. - August 26, 2021) - Decade Resources Ltd (TSXV: DEC) ("Decade" or the Company) announces that it has intersected further native silver, acanthite (silver sulphide) and native gold in DDH-DN-21-12 on theArgo/LG zones at the Del Norte property. The property is situated within BC's "Golden Triangle", 34 kilometres east of Stewart, BC.
Highlights of the recent drill hole include:
Native silver/acanthite observed as smeared zones in DDH-21-12 (see photo).
Visible gold associated with sphalerite (zinc sulphide), pyrite (iron sulphide), galena (lead sulphide) and tetrahedrite (copper-silver antimony sulphide) (see 2 included photos).
Heavy sphalerite, pyrite, galena and tetrahedrite observed over 10 m of core intersection.
2021 drilling indicates a strike length of at least 250m and height of at least 120m for the latest high grade intersections.
Ed Kruchkowski, President of the Company states: "The Company is extremely excited by the presence of visible gold, silver minerals and strong base metal mineralization in the latest drill hole. The drilling also shows a great consistency in mineralization between the various drill holes. This recent success was based on testing of geological modelling carried out after the completion of the 2020 program."
Mineralization is located within pyrite-rich, black mud lapilli tuffs with sub-intervals of dacite lapilli tuffs. Sulphides include pyrite, sphalerite, galena and tetrahedrite along with visible gold and silver in the 2021 drill holes.
The Del Norte property was optioned from Teuton Resource Corp. in January of 2020 with terms allowing the Company to earn up to a 55% interest in the property by spending $4 million over a five year period. The Company can an earn an additional 20% interest by carrying the property to commercial production.
The Company has undertaken a $600,000.00 flow through and non-flow through financing to continue funding a phase 2 program and continued exploration. The flow-through is at a price of seven cents per flow-through unit. Each flow-through unit will comprise one flow-through common share and one transferable non-flow-through common share purchase warrant, with each warrant being exercisable for the purchase of one additional common share, at a price of ten cents per share, for a two-year period.
The offering of non-flow-through units will be at a price of five cents per unit. Each unit will comprise one common share and one transferable common share purchase warrant, each warrant being exercisable for the purchase of one additional common share, at a price of eight cents per share, for a two-year period.
The proceeds from the sale of the flow-through units will be expended on the company's properties located in British Columbia and the proceeds from the sale of non-flow-through units will be used for working capital purposes. Certain directors and officers of the company may participate in the private placement.
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 is responsible for the contents of this release. E. Kruchkowski is not independent of Decade as he is the president of the Company.
Decade Resources Ltd. is a Canadian based mineral exploration company actively seeking opportunities in the resource sector. Decade holds numerous properties at various stages of development and exploration from basic grass roots to advanced ones. Its properties and projects are all located in the "Golden Triangle" area of northern British Columbia. For a complete listing of the Company assets and developments, visit the Company website at www.decaderesources.ca which is presently being updated. For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.
ON BEHALF OF THE BOARD OF DECADE RESOURCES LTD.
Ed Kruchkowski, President
"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 may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."
To view an enhanced version of Figure 1, please visit:
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94492