Vancouver, British Columbia--(Newsfile Corp. - September 3, 2024) - New Destiny Mining Corp. (TSXV: NED) (the "Company" or "NED") provides an update on results of prospecting done in conjunction with the 2024 drilling program at the Treasure Mountain project, near Princeton, BC.
Newly discovered vein north of Jim Kelly, Spokane vein (Quartz vein with up to 20% coarse grained pyrite and chalcopyrite). On left yielded 5.5 wt% Cu with 50 g/t Ag, sample on right yielded 6.6 wt% Cu and 104 g/t Ag on a portable XRF.
Prospecting north if the Jim Kelly occurrence located highly mineralized vein material (release dated August 7, 2024). Recent follow-up prospecting upslope located the Spokane quartz vein, mineralized with up to 20% coarse chalcopyrite and pyrite. The vein was sampled in two outcrops 35 meters apart (see photos) where it ranges from 0.35 to 1.0 meter in thickness. Portable XRF spot analysis results up to 6.6 percent copper and 100 grams per tonne silver were obtained, indicating base and precious metal potential (gold content cannot be determined using this instrument).
Spokane vein samples (yellow dots) and interpreted extension of veins (dashed red lines) based on LiDAR data
The vein aligns with an east-west lineament identified from high-resolution LiDAR data acquired in 2022. Based on this interpretation, the vein has a potential strike length of 500 meters (see map below). This highlights the excellent discovery potential of this area. The samples are now being sent to the lab for assays and ICP analyses. Further prospecting efforts are planned in this area. The company will be applying for permits for future trenching and drilling. Additionally, an airborne magnetic survey at the property scale is being considered.
Map showing Treasure Mountain property and targets for 2024
Portable XRF (X-Ray Fluorescence) readings are semi-quantitative measurements and are used as guideline to augment the understanding of the mineralization observed. These measurements are not intended to be representative of the geochemical composition of the material measured. XRF readings are carried out using a handheld device and could be influenced by external factors. Calibrations of the equipment in the field do not always allow comparison with results of certified reference materials. For the above results, the portable XRF data do not show any contamination based on blank analyses, and the Cu and Ag values have good accuracy based on readings done on standard NIST 2710a.
Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.
Dr. Mathew Ball, P.Geo., a Qualified Person as defined by NI 43-101 and consultant to the Company, approved the technical information contained in this News Release.
This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, the Company's information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks including that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and 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 expressly required by applicable securities legislation.
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