Vancouver, British Columbia--(Newsfile Corp. - August 12, 2024) - Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, is pleased to announce that it has commenced drilling on its Alasala target, part of the Company's 100% owned Todi Gold Project. The Company plans to drill approximately 5-10 holes totalling up to 2,000 metres, focusing on a 2 km north-northeast trending mineralized zone that was identified through soil sampling, trenching, auger drilling and diamond drilling.
"We are thrilled to embark on the fully funded drilling program at our highly prospective Alasala target, following on from the success we've had in two phases of drilling at Arthington," said David Kol, CEO of Zodiac Gold Inc. "This marks a significant milestone in our exploration journey, and the exceptional results we've seen so far underscore the strong potential of this area. Our focus remains on delivering value for our shareholders and stakeholders, and we look forward to the insights this drilling phase will provide."
Highlights of exploration completed at the Alasala target to date, as shown on Map 1, include:
High-grade mineralization intersected in previous drilling at Mandingo Hill includes: 19.6 m at 6.17 g/t Au**, 6.0 m at 7.69 g/t Au, 9.0 m at 4.60 g/t Au*
2 km anomalous soil sample trend including results from 50 to 2290 ppb Au (2.29 g/t Au).
Rock Chip samples of up to 107 g/t Au.
Trench highlights along the 2 km anomalous trend include: 14 m at 1.35 g/t Au, 30 m at 0.35 g/t Au, 6 m at 1.24 g/t Au, 14 m at 0.48 g/t Au*
Map 1: Compilation map of the Alasala target, featuring highlights from the recent mapping and sampling program along with highlighted historical results
A recent satellite data interpretation study (Map 1) shows north-northeast trending scarps aligned with the soil anomaly, with cross-cutting east-northeast and northwest trending structures coinciding with increased soil anomalism, high grade rock chips and artisanal mining sites. Gold mineralization at the Alasala target has been described as being vein and foliation controlled, as well as disseminated in amphibolite and gneiss. Zodiac Gold believes that the interaction of structural features, as well as the presence of favorable host rocks, provides potential for high-grade gold mineralization, as demonstrated by the results reported by the Company and previous historical work.
Through this initial drilling program, Zodiac Gold aims to complete preliminary testing of target areas beneath high-grade rock chip samples, significant intersections from trench sampling, and artisanal workings. This will refine the understanding of the controls on mineralization along the trend from the Mandingo Hill to the Lion Hill artisanal mining sites (Map 1).
Drill Targets
Mandingo Hill: Zodiac Gold will test the interpreted extension beneath recent high-grade rock chip samples of 32.3 and 33 g/t Au. The Company will also follow-up on intersections of 19.6 m at 6.17 g/t Au** and 9.0 m at 4.46 g/t Au in holes BODD011 (historical) and GDD0002R (Zodiac Gold)* respectively. Additionally, the extension beneath trench ALT-021 (18 m at 1.16 g/t Au*) will be explored.
The Mandingo Hill artisanal mining area consists of a series of north to northeast trending open pits.
Kporto Field: Located to the north of Mandingo Hill, the interpreted extension beneath trench ALT-012 (6 m at 1.24 g/t Au*) will be tested.
Lion Hill: The interpreted extension beneath rock chips from 2.77 to 5.49 g/t Au will be tested by three drill holes. Lion Hill is the most northerly artisanal mining area and the deepest of the pits, where artisanal miners extract gold from beneath the oxide zone.
*Note that there is currently insufficient data to estimate true thicknesses and, as such, the thicknesses of mineralized intersections described above and shown on Map 1 above represent the drilled or trenched thickness. **Historical intersection - re-sampling of disrupted, broken quarter core in the oxide zone, including core loss, resulted in an intersection of 21 m at 4.1 g/t Au.
Photo 1: Commencement of drilling at the Alasala Target
Tom Dowrick, Director of Exploration at Zodiac Gold, is a Chartered Geologist of the Geological Society of London and a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical and scientific information provided in this release.
About Zodiac Gold
Zodiac Gold Inc. (TSXV: ZAU) is a West-African gold exploration company focused on its flagship Todi Project situated in Liberia-an underexplored, politically stable, mining friendly jurisdiction hosting several large-scale gold deposits. Strategically positioned along the fertile Todi Shear Zone, Zodiac Gold is developing a district-scale gold opportunity covering a vast 2,316 km2 land package. The Todi project has undergone de-risking, showcasing proven gold occurrences at both surface and depth, with five drill-ready targets and high-grade gold intercepts
For further information, please visit the Zodiac Gold website at www.zodiac-gold.com or contact:
David Kol President & CEO info@zodiac-gold.com
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.
Forward-Looking Information
This news release includes certain "forward-looking statements" within the meaning of Canadian securities legislation.
Forward-looking statements include predictions, projections, and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's planned exploration programs and drill programs and potential significance of results are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital, and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials, and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events, or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate, and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
