TORONTO, July 13, 2020 (GLOBE NEWSWIRE) — Hemlo Explorers Inc. (the “Company”) (TSXV: HMLO) is pleased to provide an update on exploration activities that commenced in late May at the Company’s Marathon, Ontario area properties. The Properties are located in the Schreiber-Hemlo greenstone belt that hosts the Hemlo Gold Deposit which has produced over 21 million ounces gold since 1985 and remains in operation today at Barrick’s Williams Mine. The Company has over 38,000 hectares of claims and is the largest claim holder in the Hemlo Camp.
The Company initiated a 3D compilation program in early June (see Press Release dated June 22, 2020) at the North Limb Project, with an initial focus on the eastern portion – a geologically complex setting of ultramafic, mafic to felsic metavolcanics, interflow sediments, tuffs and iron formation. Four quartz-feldspar porphyry intrusives were emplaced in an area of arcuate structural dilatancy within the volcanic-sediment assemblage, bounded by the Musher and Dotted Lake Plutons.Previous drillhole intercepts of 37.35 g/t Au over 1 metre and 10.6 g/t Au over 1 metre were returned from feldspathic units closely associated with the Lunny Lake Porphyry. The Lunny Lake Porphyry is 100 to 150 metres wide, strikes 4 kilometres and is thought to have a similar appearance and origin to the Moose Lake Porphyry at the Hemlo deposit. The main ore zone at Hemlo is concentrated on the northern margin of the Moose Lake Porphyry, is hosted by both sheared porphyry and adjacent fragmental rocks and consists of feldspathic ore that is typically higher grade than sericitic ore.Compilation efforts will focus on anomalous gold occurrences in correlation with fold-fault-shear trends, lithological alteration and contact contrasts, quartz veining, and mineralization characteristics. Ground truthing of known stripped areas, outcrops and locating of existing drill collars will commence this month to help with target definition. It is anticipated that evaluation and interpretation of this area will generate targets for future drill testing.Data compilation has also commenced on the Pic Project, including the Smoke Lake, Wire Lake and Beggs Stock areas. Once completed, this data will also be assessed for gold mineralized trends. In addition, field activities are ongoing at Beggs Stock with prospecting, mapping, soil and rock sampling as follow-up to high-grade grab samples of quartz veining near the edges of the intrusive. These samples returned values of 109 g/t Au, 14.7 g/t Au and 11.6 g/t Au at the ABC, Tibia and Goldshore occurrences respectively.In May of this year, a high resolution magnetic airborne survey was flown over a portion of the Pic Project covering the Porphyry Lake area. In 2019, assay results from soil and rock surveys outlined a 450 by 400 metre area of anomalous gold (see press release dated January 7, 2020). The magnetic survey will assist with the interpretation of boundary and structural trends that are important to gold deposition on this property.Brian Howlett, the CEO of the Company stated, “We are excited to be identifying stripping and drilling targets from the results of these compilations and look forward to executing a comprehensive exploration program. We remain hopeful of the exploration permits being issued in the near future as restrictions from the Covid-19 crisis begin to get lifted.”Hemlo Explorers is backed by significant shareholders such as Northfield Capital Corporation and O3 Mining Inc., who collectively own approximately 40% of the Company.Technical InformationDan McCormack, P.Geo., Exploration Manager for Hemlo Explorers, 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, including the North Limb, Hemlo West and the Pic Project.For more information please contact:Brian Howlett, President & CEO
Hemlo Explorers Inc.
[email protected]
(647) 227-3035http://www.hemloexplorers.caForward-Looking StatementsCertain 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

Bay Street News