|Bid||0.7400 x 850000|
|Ask||0.7950 x 800000|
|Day's Range||0.7400 - 0.7400|
|52 Week Range||0.0005 - 0.8350|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
OTTAWA, ON, Oct. 22, 2020 /CNW/ - On October 23 at 10:00 a.
VANCOUVER, British Columbia, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Clarity Gold Corp. (“Clarity” or the “Company”) (CSE: CLAR, FSE: 27G, OTC: CLGCF) is pleased to provide an update from previously announced site visits to the Empirical, Tyber, and Gretna Green projects. The objective of these initial reconnaissance programs was to review the geology and mineralization, locate and verify historic mineral showings, and plan for further exploration on the recently expanded portions of the Empirical Property and the newly acquired Tyber and Gretna Green Projects. The Programs were successful in locating recently acquired historic workings on the Empirical and Tyber projects with sampling corroborating historic information and mineralization at several of the showings. Descriptions of grab samples and the located showings are summarized below. Additional planning and compilation work is underway.Empirical ProjectAt the Company’s flagship 10,518 ha Empirical Project, 12 km south of Lillooet, BC, a team of three spent three days on site mapping out road access and locating historic mineral showing where previous work identified mineralization. In the eastern extension, the team was successful in locating and confirming mineralization at two of the more extensively worked showings, namely the Rickhill and Mud showings. In the western expansion claims, the FYP showing was located. A total of 10 grab samples were collected from the three showings visited and results are presented in Table 1 below.Historic WorkThe Rickhill Showing has seen several campaigns of historic work. In 1959, six surface rock samples averaged 0.95% copper over 12.9 meters (Minfile 092INW022). Elevated copper in soil samples indicate that this zone of copper mineralization may be extended up to a total of 30 m (Skerl, 1959). In 1970, 538 soils were collected with copper intensities ranging between 6 ppm to 212 ppm (Assessment report 02530). The Mud showing (Minfile 092INW025) has historic work reported dating back to 1959 where 5 outcrops of copper mineralization are described to occur over a distance of approximately 1.6 km. Historic Work consisted of bull dozer trenching, limited geophysical and geochemical surveys and 355m of percussion drilling.At the FYP showing, where historic samples taken from quartz veins have assayed up to 0.32% molybdenum and 0.35 g/t gold (Nelson, J. (1985-10-01): B.C. Gold Reconnaissance 1985 - Lillooet Project - Final Report; Assessment Report 30875; Minfile 092ISW109, 092ISW110). Previous work has focused on the area’s molybdenum potential, with minimal exploration for gold.2020 Grab SamplesTable 1 - Grab Sample results from the Empirical Project expansion claims, numbers are rounded. The reader is cautioned that grab samples are selective by nature and may not represent the true grade or style of mineralization across the property.ProjectShowing NameDescriptionSample IDGold (ppb)Copper (%)Molybdenum (ppm)Silver (g/t) EmpiricalN/AApprox. 20cm wide qtz vein 225/65 in equigranular diorite with minor chalcopyrite and malachite staining.32975011.90.2755.55.5 EmpiricalN/AHost to 3297501, diorite with trace disseminated sulfide weathering to malachite.32975020.20.171.90.05 EmpiricalRickhillSample from outcrop at Rickhill Showing in historic blast trench329750315.70.951.912.2 EmpiricalRickhillSample from outcrop at Rickhill Showing in historic blast trench329750429.81.971.315.6 EmpiricalRickhillSample from outcrop at Rickhill Showing in historic blast trench329750561.130.810.6 EmpiricalRickhillSample from outcrop at Rickhill Showing in historic blast trench329750622.11.269.715.1 EmpiricalMUDSample from outcrop in historic trench329750840.540.84.7 EmpiricalMUDSample from outcrop in historic trenchY9957032.50.1141.2 EmpiricalMUDSample from outcrop in historic trenchY9957042.50.3263.8 EmpiricalFYPQuartz VeinY99570523-30.1 Tyber ProjectThe field team visited the 928 ha Tyber gold-copper-silver project (the “Tyber Project”) located approximately 18 km southwest of Parksville, BC. The visit was comprised of one day on the project with a crew of four. Access roads and trails were mapped, and a recently constructed logging road was prospected. The crew prospected the area of the main showing and successfully located one of two historic adits which has caved in, and only the waste dump was accessible. Two samples where collected from the waste dump and two grab samples of quartz vein material were collected. Results are presented in Table 2.Historic WorkHistoric rock samples taken from the property between 1916 and 1986 assayed up to 2.328 oz/t Au (from historic adit dump), 16% Cu and 305.5 oz/t Ag (1916 BC Mines Annual Report; Minfile 092F236). The Tyber Project consists of several mineralized shear zones ranging from less than 0.30 m to 2.60 m. Two historical adits on the Tyber Project, believed to be targeting mineralized quartz veins within local shear zones, extend approximately 14 m and 47 m in length (1981 Assessment Report 09432).2020 Grab SamplesTable 2 - Grab Sample results from the Tyber Project, numbers are rounded. The reader is cautioned that grab samples are selective by nature and may not represent the true grade or style of mineralization across the property.ProjectShowing NameDescriptionSample IDGold (ppb)Copper (%)Silver (g/t) TyberTYBERStrongly altered and weathered core of quartz-carbonate vein329380613.4-0.1 TyberTYBERQuartz vein with approx. 2% pyrite32938074.8-0.05 TyberTYBERSelect sample of waste dump at the adit.Y995701220.183.5 TyberTYBERSelect sample of waste dump at the adit.Y9957022963.8941.1 Gretna Green ProjectThe field team visited the 1,331 ha Gretna Green gold-copper-silver project (the “Gretna Green Project”) located approximately 24 km Southwest of Port Alberni. Due to a generalized description from the historic report in 1921, the team was unable to locate the site where a selected sample assayed 48.00 grams per tonne gold, 51.43 grams per tonne silver and 17.8 percent copper (Minister of Mines Annual Report 1921; Minfile 092F24). The team collected five grab samples with weakly anomalous gold values ranging from 9 ppb to 53 ppb.The Clarity Gold Corp. Qualified Person has not verified the results of the historic exploration and sampling at the Gretna Green Project, additional sampling would be required to verify the data.For further information on the projects including images from the recent site visit please refer to the Company’s website (www.claritygoldcorp.com).Note: the reader is cautioned that grab rock samples and their respective photographs are selective by nature and may not represent the true grade or style of mineralization across the Property.Quality Assurance and ControlFive rock grab samples (Y995701-Y995705) were collected by Rory Kutluoglu, P.Geo., secured with zip ties and remained in his custody until personally delivered for analysis to ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO 9001:2008 accredited facility). Additional sampling undertaken by Longford Exploration personnel following procedures reviewed or supervised by Rory Kutluoglu, P.Geo and Qualified Person for Clarity Gold Corp. A secure chain of custody was maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Analysis by four acid digestion with 48 element ICP-MS analysis was conducted on all samples with silver and base metal overlimits re-analyzed by atomic absorption or emission spectrometry. ALS Laboratories practices stringent Quality Control Protocols for exploration and ore grade samples which includes insertion of sample reduction blanks and duplicates, method blanks, weighted pulp replicates and reference materials.Fourteen rock grab samples (3297501-3297508, 3293801-3293807) were collected by Longford Exploration personnel following procedures reviewed or supervised by Rory Kutluoglu, P.Geo and QP for Clarity Gold Corp. Samples were secured with zip ties and remained in custody of Longford Exploration until delivered for analysis to Bureau Veritas Minerals (“BV”) in Vancouver, Canada (an ISO 17025 9001:2008 accredited facility). A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Analysis by aqua regia digestion with 36 element ICP-MS analysis was conducted on all samples with silver and base metal overlimits re-analyzed by atomic absorption or emission spectrometry. BV practices stringent Quality Control Protocols for exploration and ore grade samples which includes insertion of sample reduction blanks and duplicates, method blanks, weighted pulp replicates and reference materials.Rock chip samples from outcrop/bedrock are selective by nature and they may not be representative of the mineralization hosted on the project.Qualified PersonMr. Rory Kutluoglu P. Geo. is the Qualified Person (“QP”) under NI 43-101 for the technical information in this news release and has reviewed the appropriate and available data for the Empirical Project and approves the technical contents of this news release. The QP was part of the crews which conducted the site visits but cannot currently validate the historical databases nor the results of the historical work presented herein.About ClarityClarity Gold Corp. is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold projects in Canada. The Company is focused on the exploration of its 10,518 ha Empirical Project located approximately 12 km south of Lillooet, BC, and has recently expanded its mineral property portfolio with the acquisitions of the Tyber and Gretna Green projects, both located on Vancouver Island, British Columbia. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the symbol “CLAR”. To learn more about Clarity Gold Corp. and its projects please visit www.claritygoldcorp.com.ON BEHALF OF THE BOARD“James Rogers”Chief Executive OfficerTel: 1 (833) 387-7436Email: firstname.lastname@example.orgWebsite: www.claritygoldcorp.comCAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements in this news release include, but are not limited to, statements regarding that the new advisory board member’s technical experience and track record of management and project evaluation will be immensely valuable to the Company. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Risks that could change or prevent these statements from coming to fruition include, but are not limited to, general market conditions and other factors beyond the direct control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
VANCOUVER, BC, Sept. 14, 2020 /PRNewswire/ -- Clarity Gold Corp.