VAL D’OR, QUEBEC–(Marketwired – Oct. 25, 2016) – Hinterland Metals Inc. (TSX VENTURE:HMI) (“Hinterland”) is pleased to announce that it has identified a high priority drill target for gold mineralization on its 100% held, 34-claim (1,475-hectare) Guyberry property located approximately 95 kilometres northwest of Val d’Or in the Abitibi region of Quebec. In September 2016 Hinterland completed a 26.4 kilometre induced polarization and resistivity survey (the “IP/RES survey”) in the northwest corner of the property. This work was funded by La Société d’investissement dans la diversification de l’exploration (“SIDEX”) through a private placement under the “Field Action 2016” program. The mission of SIDEX is to invest in companies engaged in mineral exploration in Quebec.
The Guyberry property covers a volcanic-intrusive contact marked by the southeast-trending, regional scale Chicobi Deformation Zone (the “CDZ”). Previous geophysical surveys completed by Hinterland had identified a narrow resistivity high extending over 1.6 kilometres along this contact coincident to the boundary between two magnetic domains. These surveys also revealed numerous disruptions of the magnetic and electromagnetic patterns, inferred to be high-angle, northeast-trending faults. The IP/RES survey was designed to obtain a detailed image of the 2.0 kilometre section of the CDZ in the area of the high resistivity feature referred to above.
The IP/RES survey clearly defines a narrow, linear resistivity high over 1.3 kilometres, from line 4200mE to 5500mE interpreted to be the trace of the CDZ (see www.hinterlandmetals.com/i/maps/guyberry/RES.pdf). Of particular interest is a 400 metre segment of the resistivity high, from line 4200mE to 4600mE, which is bounded by two crosscutting, northeast-trending faults. This segment is inferred to be a dilation zone within the CDZ. It is well documented that dilation zones along major fault structures allow for circulation of mineral-rich fluids, and are favourable for the precipitation of gold-bearing quartz-carbonate veins, breccias and stockworks. As such, the inferred dilation zone indicated by the IP/RES survey offers an excellent drill target to test for gold mineralization.
Hinterland intends to drill test Guyberry early in 2017, and is currently seeking equity or joint venture financing to fund the drilling. Mark Fekete, President and CEO explains “Our previous work traced the Chicobi Deformation Zone pretty well, but we had no idea where the best place to drill might be along the structure. The dilation zone inferred by the recent resistivity survey provides us with a high-confidence gold target.”
Mark Fekete, P.Geo is the designated “qualified person” as defined in Section 1.2 in and for the purposes of National Instrument 43-101 that reviewed and approved the technical content of this release.
Neither the 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. This release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company’s periodic reports including the annual report or in the filings made by the Company from time to time with securities regulators. The Company undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of an unanticipated event.
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Zak Dingsdale
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