MONTREAL, QUEBEC–(Marketwired – Nov. 28, 2017) – OneCap Investment Corporation (“OneCap or the “Corporation”) (TSX VENTURE:OIC) is pleased to provide an operational update for its Las Marias gold property located in the Bolivar South Province, Northeastern Colombia.
The 512 hectares Las Marias gold property is characterized by a low altitude ridge oriented NE-SW along the well-defined regional deformation zones. This gold mineralized ridge measures 1,700 meters by 500 meters where 113 artisanal mining features (shafts, adits, pits, etc.) have been identified. More than 26 of those artisanal mining features are still active producing gold ore ranging from 20 to 50 g/t. (see map available at the following link: http://media3.marketwire.com/docs/1105372_MapLas%20MariaJulioPorras2017.pdf).
In the past few months, the Corporation has set up a Colombian technical crew who conducted lithological and structural mapping of the property. In addition, detail topographical survey and sampling of 13 underground mine workings, strategically distributed on the mineralized ridge were completed. Over 150 panel samples, 200 cm by 40 cm, were collected from the selected underground mine workings and assayed at the facilities of Actlabs in Medellin. The results from those panel samples range from 0.01 g/t Au up to 26 g/t gold (“Au”) with 29 panel samples returning values greater than 0.5 g/t Au. The longest continuous mineralized section consisted of 38 metres at an average grade of 0.92 g/t Au (values from 0.02 g/t to 3.18 g/t Au). An individual 25 cm thick vein from the Morelos artisanal mine returned 234 g/t Au.
The mineralisation is mainly auriferous quartz veins, veinlets and breccia with pyrite and minor sphalerite/galena, dipping steeply, in soft saprolitic granodiorite. The principal host rock is a granodiorite body in contact with a metamorphic rock formation where phylic and propylitic alterations are often associated with gold mineralization.
The Corporation is now compiling the results and plans to carry trenching over identified mineralized zones. Furthermore, OneCap is now completing a regional survey of artisanal gold mining operations on a 30 km radius around the Las Marias gold property. The Corporation expects to release the results of this survey by mid-December 2017.
Quality Control
A Quality Assurance / Quality Control (“QA/QC”) program managed by LACC Mineral de Medellin was followed by integrating duplicates, blanks and standards to samples. The processed samples were subjected to a standard Fire Assay with AA technique (Au-AA-23) and Inductively Coupled Plasma Emission Spectroscopy (ME-ICP-41) on a 30 gram sub-sample by Actlabs in Medellin and Ancaster in Canada.
Qualified Person
This news release has been prepared by Daniel Goffaux, P.Eng., a Qualified Person as defined by National Instrument 43-101.
Director resignation
OneCap announces the resignation of Mr. Jacques Trottier as director of the Corporation. OneCap would like to thank him for his contributions to the development of the Corporation.
About OneCap
OneCap is a mineral exploration company with its exploration activity focused in Colombia. It has an option to earn a 100% interest in the Las Marias gold property subject to cash payments and exploration expenditures over a 5-year period ending in 2021.
The information set forth in this press release includes certain forward-looking statements. Such statements are based on assumptions exposed to major risks and uncertainties. Although OneCap deems the expectations reflected in these forward-looking statements to be reasonable, the Corporation cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
