TORONTO, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Hemlo Explorers Inc. (the “Company”) (TSXV: HMLO) is pleased to announce it has commenced drilling at its North Limb Project, located approximately 15 km north of the Hemlo Mine near Manitouwadge, Ontario.
- Drill campaign to begin with a minimum of 10,000m in approximately 20 drill holes.
- Armand Volcanic Complex at the North Limb resembles the geological setting of the Moose Lake Volcanic Complex which is 15km to the south at the Hemlo gold deposit.
- Testing new targets and following up on historical results such as 37.35 g/t Au over 1 metre in drill hole F1-95-2.
This is the Company’s first drill campaign since it consolidated the North Limb project with the O3 Mining property acquisition last year (see press release dated April 21, 2020). This program, which is the first on this portion of the property since 1996, will consist of a minimum of 10,000 metres through the completion of approximately 20 holes with an average length of 500 metres. The Company has invested significant efforts over the past eight months compiling data from previous drill holes, ground surveys and sampling.
“We believe we have potential for a significant mineralized gold system similar to the Moose Lake Volcanic Complex at the prolific Hemlo gold deposit,” said Brian Howlett, President and CEO of Hemlo Explorers. “While there has been some significant prior exploration on the project, most historical drill holes have never gone below a depth of 225 metres. All of this previous exploration has given our team good insight to what lies below and along untested trends.”
Management has proposed drilling specific targets on the North Limb Property that will include testing numerous sections of the 8.2-kilometre-long Armand Volcanic Complex (“Armand Complex”) trend, based on several anomalies outlined by drill intercepts, soil and rock assays, and geophysical signatures. The Company believes that the Armand Complex resembles the geological setting of the Moose Lake Volcanic Complex at the Hemlo gold deposit that has produced over 21 million ounces since it began production in 1985 is expected to be in operation until at least 2030 (as reported by Barrick Gold Corporation).
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Effective January 14, 2020 the Province of Ontario declared a state of emergency in the Province and at the present time it is unknown what effects this or future actions could have on our field operations, but at this time, mineral exploration is still considered an essential service by the Provincial Government. Management of the Company is working with our contractors to ensure strict adherence to appropriate safety protocols to safeguard the health and well being of all our employees and contractors.
Dan McCormack, P.Geo., Exploration Manager for the Company, is the “Qualified Person” as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for the accuracy of technical information contained in this news release.
About Hemlo Explorers Inc.
Hemlo Explorers is a Canadian-based mineral exploration company with a portfolio of properties in Ontario and Nunavut. We are focused on generating shareholder value through the advancement of our main Hemlo area projects, including the North Limb, Hemlo West and the Pic Project.
For more information please contact:
Brian Howlett, President & CEO
Hemlo Explorers Inc.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, exploration results, potential mineralization, statements relating to mineral resources, and the Company’s plans with respect to the exploration and development of its properties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Hemlo Explorers Inc., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing, exploration risk and Covid-19 pandemic related orders. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.