In This Article:
Vancouver, British Columbia--(Newsfile Corp. - January 30, 2024) - Go Metals Corp. (CSE: GOCO) ("Go Metals" and/or the "Company") announces the results of the processed airborne geophysical survey from KM98 critical metal project on the Côte-Nord of Québec.
Figure 1 – Electromagnetic anomaly at KM98 project. Darker green areas correspond to higher amplitude response.
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Highlights
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Large 4100 metre by 1600 metre (3.2km2) anomaly at KM98
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Higher EM amplitudes compared to HSP
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KM98 anomaly is ten times the footprint of Chamber North
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Anomalies are clustered along the southern contact of the anorthosite
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Property is accessible by paved road, year-round
Go Metals President and CEO, Scott Sheldon, commented: "Time domain electromagnetic surveying detects conductive material including certain sulphides and massive oxides. The anomalies at KM98 are on a completely different level to anything we've seen to date. The new kilometre scale anomaly is an order of magnitude larger than our biggest target at HSP. Further geological groundwork to identify the cause of the airborne anomaly will help determine the true potential of this target."
Magmatic Sulphide Mineralization
This style of mineralization is rare in anorthosite and represents a metal-rich phase of magma that cools to form pods and layers of massive sulphides. The connected nature and mineralogy of the metallic minerals allow them to conduct electricity and be detected using electromagnetic techniques.
Time Domaine Electromagnetic Survey
AIRTEM can detect massive sulphide mineralization by transmitting a current pulse through a transmitter loop towed by a helicopter. As the resulting magnetic field moves through the earth it induces an electrical field within any conductive bodies that it passes through. This new electrical field in turn generates a magnetic field which is detected by receiver coils mounted within the transmitter loop. This method can detect conductive minerals to depths of hundreds of metres.
The survey was conducted by Balch Exploration Consulting Inc. and undertaken in October of 2023 at both HSP and KM98. In addition to the large conductor highlighted in this news release, six new strong conductors (based on amplitude and time decay) were detected.
Options
The Company also announces that it has issued an aggregate of 2,400,000 stock options to directors, officers, and consultants of the Company pursuant to its stock options plan. The stock options are exercisable to acquire common shares of the Company at a price of $0.05 for a period of 3 years from grant and will vest on issuance.