Vancouver, British Columbia--(Newsfile Corp. - September 17, 2024) - New Destiny Mining Corp. (TSXV: NED), (the "Company" or "NED") provides a further update on its 2024 drilling program at the Treasure Mountain project, near Princeton, BC.
Drilling continues at the Jim Kelly gold zone. Hole TMN24-09 aimed to test the mineralized zone intersected in hole TMN24-08 (see press release from September 9th). It was drilled at a steeper angle to intersect the mineralized zone at depth (see cross-section below).
Figure 1. Cross-section of holes TMN-08 and TMN-09 at the Jim Kelly area. The red dashed line shows the interpreted extension of Jim Kelly mineralized zone.
Hole TMN24-09 intersected an interval of a brecciated rock with carbonate alteration and silicification and disseminated pyrite and chalcopyrite from 80.29 to 80.79 meters depth (see top photo below). This zone is interpreted to be the down dip extension of the Jim Kelly mineralized zone intersected in Hole 08 (see cross-section above). This hole also intersected several intervals of quartz-carbonate veins. An interval of semi-massive sulfide was intersected (from 138.79 to 139.09 m) within a gabbro that included 10-15% pyrite, pyrrhotite, and chalcopyrite (see bottom photo below).
Figure 2. Photo of core from hole TMN24-09 showing a) interval of brecciated, silicified and carbonate altered rock with pyrite and chalcopyrite (top photo), and b) interval of semi-massive sulfide with pyrite, pyrrhotite, and chalcopyrite (bottom photo)
Hole TMN24-09 indicates geological continuity of the mineralized zone to depth, although the mineralized zone is narrower in hole 9. Further drilling is planned to test the strike extension and better define the geometry of the Jim Kelly mineralized zone.
The Treasure Mountain property covers 10,819 hectares and is located 38 km west of the Copper Mountain mine at Princeton in southern BC. Targets on the property include critical minerals in porphyry copper-moly deposits, and gold-quartz vein and polymetallic silver-rich vein deposits.
Map showing Treasure Mountain property and targets for 2024
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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