Toronto, Ontario--(Newsfile Corp. - March 18, 2024) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) ("Carolina Rush", "Rush" or the "Company") is pleased to report assay results from two exploration trenches that were constructed on Rush's Sawyer Gold Mine property ("Sawyer") in Randolph County, North Carolina. The Sawyer property contains at least four parallel zones of gold mineralization that were mined at various times dating back to 1820. The area contains 7 vertical shafts with evidence of prospecting extending along a 2,500-meter trend with extensive pits, dumps, and trenches. Exploration during the late 1900s included extensive near surface drilling that was used to produce a historic gold mineral resource estimate in 2021. The historic gold resource at Sawyer contains the following based on a 0.4 g/t Au cutoff grade (see News Release February 1, 2023):
Measured & Indicated: 2.9 Mt @ 1.1 g/t Au containing 102.1 koz Au
Inferred: 1.0 Mt @ 1.0 g/t Au containing 32.4 koz Au
Two trenches were planned to sample and verify gold mineralization within the historic resource area and were located about 50 meters apart, excavated perpendicular to the trend of mineralization.
Trench ST23 - 01 was excavated with a track hoe along a northwest azimuth, perpendicular to the trend of mineralization for a distance of 36.0 meters. Chip-channel samples were collected on 1.5 meter continuous intervals and contained gold values up to 10.3 g/t with the following weighted average concentration:
Trench ID
From (m)
To (m)
Interval (m)
Au (g/t)
ST23-01
0.00
36.0
36.0
1.9
Incl.
12.0
33.0
23.0
2.9
Incl.
18.0
30.0
12.0
3.9
Trench ST23 - 02 was excavated along a similar northwest azimuth, located about 50 m northeast of ST23-01. Continuous chip-channel samples were collected on 2.0 meter interval and contained gold values up to 2.2 g/t with the following weighted average concentration:
Trench ID
From (m)
To (m)
Interval (m)
Au (g/t)
ST23-02
0.00
34.0
34.0
1.1
Incl.
0.0
6.0
6.0
1.8
Incl.
24.0
28.0
4.0
1.7
Sawyer Mine Gold Mineralization: Gold mineralization occurs within a northeast-trending shear zone hosted mainly in sericite-pyrite altered felsic volcanic and volcaniclastic rocks. Gold is localized within steeply dipping, folded zones which are the subject of ongoing exploration. Gold distribution in the trenches is similar to historic gold values reported from trenches and drill holes. Importantly, the trenches demonstrate that gold mineralization is present in the intermediary rocks located between historic high-grade lodes that were mined by underground and surface methods. Details about the property are included below and in the News Release dated February 1, 2023.
Sawyer Trend: The Sawyer and New Sawyer gold mine properties occur within the Carolina Slate Belt metallogenic province and are associated with an axial-planar regional shear zone named the Sawyer-Keystone Trend. An alignment of gold deposits within this structural zone has been traced for more than 20 kilometers. The Sawyer Mine property is located 4.0 km southwest of Rush's New Sawyer Mine Property. At both properties, mineralization crops out at surface where it is deeply weathered and oxidized and remains open for expansion in several areas. Previously reported verification trench sampling at New Sawyer has produced similar results to those reported here (see News Release January 24, 2023).
Future Programs: The Company remains focused on its Brewer Gold Mine exploration program, focused on delineating breccia-hosted gold-copper mineralization and the discovery of a potential copper - gold porphyry system beneath the historic Brewer Gold Mine. Future programs at the Sawyer Trend will evaluate historic data and expand the near surface gold mineralization areas and evaluate the regional structural controls on the Sawyer Trend.
Trench locations were marked in the field and excavated to the point of refusal, typically removing one to two meters or less of regolith. Channel samples were cut through the trench and a tape was laid out and samples were marked at 1.5-meter (trench ST-23-01) or 2-meter (trench ST-23-02) intervals. The samples were chiseled out of the channels and bagged and labeled with a unique sample ID. The average sample weight was 5.9 kg. QAQC protocol consisted of inserting certified reference material every 10th sample and one field duplicate was collected from ST-23-02. Samples were shipped to ALS Laboratory in Tuscon, AZ and analyzed for gold using a 30g fire assay with an AA finish (analytical method "Au-AA23") and trace elements were analyzed via ICP-MS following a 4-acid digestion (analytical method "ME-MS61"). Gold over limits were determined by a 30g fire assay with a gravimetric finish for samples containing >10g/t Au.
*The Company cautions that a Qualified Person has not done sufficient work to classify the Historic Estimate as current mineral resources or mineral reserves under NI 43-101. The Company is not treating the Historical Estimate as current mineral resources or mineral reserves. There can be no certainty, following further evaluation and/or exploration work, that the Historic Estimate can be upgraded or verified as mineral resources or mineral reserves in accordance with NI 43-101. However, the Company plans to conduct further evaluation and/or exploration work with the objective of verifying or upgrading the Historic Estimate as mineral resources or mineral reserves in accordance with NI 43-101.
Qualified Person
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Patrick Quigley, MSc, CPG-12116, a Qualified Person as defined by NI 43-101.
About Carolina Rush
Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) is exploring the Carolina Terrane in the southeastern USA. Its flagship Brewer Gold-Copper Project is located at the past-producing, 397-hectare Brewer Gold Mine property in Chesterfield County, South Carolina, 17 kilometers along trend from the producing Haile Gold Mine. In January 2023, the Company signed exclusive mineral exploration lease and purchase option agreements for both the 246.6-hectare New Sawyer Gold Mine Property and the 54.6-hectare Sawyer Gold Mine Property, both located on the Sawyer Gold Trend and in Randolph County, North Carolina.
For further information, please contact: Layton Croft, President and CEO or Jeanny So, Corporate Communications Manager E: info@thecarolinarush.com T: +1.647.202.0994
Neither 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 information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
