TORONTO, ONTARIO–(Marketwired – Oct. 17, 2016) – Reliant Gold Corp. (“Reliant Gold” or the “Corporation“) (TSX VENTURE:RNG) is pleased to announce that the Summer 2016 Surface Sampling Program (“2016 Program“), recently completed at its East Bay Property, has delivered exciting results of up to 86.461 g/t Gold (Au); 0.174 g/t Platinum (Pt); 0.669 g/t Palladium (Pd); 4,549 ppm Copper (Cu); and 1,613 ppm Nickel (Ni). The 2016 Program was carried out on behalf of the Corporation by Bjorkman Prospecting, an award winning, multi-generational family of prospectors and geologists from the Thunder Bay, Ontario area. The 2016 Program was conducted in August 2016 by a two-person team led by Ms. Ruth Bjorkman. Ms. Bjorkman has a decade of experience in surveying, sampling and prospecting and she holds a Honours Bachelor of Science degree in Geology from Lakehead University, in Thunder Bay, Ontario. The team transported the samples to Accurassay Laboratories in Thunder Bay, Ontario and submitted them for sample preparation and analysis.
Reliant Gold’s East Bay Property is located in the McVicar Lake area in northwestern Ontario (the “Property“). The Property, comprised of 56 mineral claim units totalling 896 hectares, is situated approximately 90 kilometres west of Pickle Lake, Ontario and 130 kilometres southwest of Goldcorp Inc.’s Musselwhite Gold Mine. The Property is the site of three historical zones of gold occurrences: (1) the Altered Zone; (2) the North Flexure Zone; and (3) the Apple Island Zone. In addition, the Property hosts a historical copper-nickel occurrence enriched in the platinum group metals known as the Hoey Syndicate Occurrence. All four of these occurrences on the Property are registered in the Ontario Ministry of Northern Development and Mines (“MNDM“), Mineral Deposit Inventory (“MDI“) database.
QUALITY ASSURANCE – QUALITY CONTROL (“QA/QC”) PROTOCOL
During the course of the 2016 Program, a total of 125 grab rock samples were collected and then delivered (including a set of commercial standards and blanks for quality assurance/quality control) by Reliant Gold’s prospecting team directly to Accurassay Laboratories, located in Thunder Bay, Ontario, for assaying and testing for the following metals: Gold (Au), Copper (Cu), Nickel (Ni), Platinum (Pt) and Palladium (Pd). Accurassay Laboratories is an ISO – 17025 accredited laboratory providing high-quality mineral analysis to mining and mineral exploration companies for more than 35 years. A gold standard and blank were inserted with every batch of 30 samples submitted for mineral analysis and performed satisfactorily. Any samples that returned an initial fire assay value for Gold (Au) exceeding 10 g/t Au were re-assayed using the fire assay method with a gravimetric finish.
HIGHLIGHTS OF THE 2016 PROGRAM RESULTS
Assay Results from the Altered and Apple Island Zones
- 4 of the samples returned Gold assays exceeding 10 g/t Au as follows: 11.588 g/t Au; 12.734 g/t Au; 14.649 g/t Au; and 86.461 g/t Au. These 4 samples were re-assayed for confirmation using the fire assay method with a gravimetric finish.
- 16 of the samples returned Gold assays ranging from 1.011 g/t Au to 8.246 g/t Au.
- 18 of the above-noted 20 samples were taken from the Property’s Altered Zone, while the remaining 2 samples, including the sample that returned a Gold assay result of 86.461 g/t Au, were taken from the Property’s Apple Island Zone. The sample that delivered an assay result of 86.461 g/t Au was from a 7-10 cm quartz vein surface rock grab sample, within a 2 metre zone of quartz veining and fuchsite alteration at the Apple Island Zone.
The assay results of these 20 samples are presented below:
| Sample ID | Zone | Gold (Au) g/t |
Platinum (Pt) g/t |
Palladium (Pd) g/t |
Copper (Cu) ppm |
Nickel (Ni) ppm |
||||||
| 450113 | Altered Zone | 1.105 | 0.022 | < l.d.l | 47 | 55 | ||||||
| 450114 | Altered Zone | 1.036 | 0.020 | < l.d.l | 65 | 55 | ||||||
| 450118 | Altered Zone | 12.734 | < l.d.l. | < l.d.l. | 84 | 108 | ||||||
| 450122 | Altered Zone | 5.430 | < l.d.l. | < l.d.l. | 379 | 73 | ||||||
| 450123 | Altered Zone | 1.086 | 0.016 | < l.d.l. | 45 | 85 | ||||||
| 450124 | Altered Zone | 14.649 | < l.d.l. | < l.d.l. | 105 | 84 | ||||||
| 450126 | Altered Zone | 1.852 | 0.026 | < l.d.l. | 21 | 82 | ||||||
| 450128 | Altered Zone | 11.588 | 0.018 | < l.d.l. | 14 | 63 | ||||||
| 450129 | Altered Zone | 2.934 | 0.018 | < l.d.l. | 42 | 113 | ||||||
| 450131 | Altered Zone | 7.940 | < l.d.l. | < l.d.l. | 45 | 49 | ||||||
| 450132 | Altered Zone | 1.256 | < l.d.l. | < l.d.l. | 36 | 87 | ||||||
| 450133 | Altered Zone | 3.536 | < l.d.l. | < l.d.l. | 14 | 78 | ||||||
| 450134 | Altered Zone | 4.125 | < l.d.l. | < l.d.l. | 11 | 76 | ||||||
| 450135 | Altered Zone | 2.699 | < l.d.l. | < l.d.l. | 4 | 60 | ||||||
| 450137 | Altered Zone | 1.011 | < l.d.l. | < l.d.l. | 10 | 97 | ||||||
| 450139 | Altered Zone | 8.246 | < l.d.l. | < l.d.l. | 10 | 77 | ||||||
| 450141 | Altered Zone | 6.190 | < l.d.l. | < l.d.l. | 14 | 83 | ||||||
| 450142 | Altered Zone | 3.634 | < l.d.l. | < l.d.l. | 6 | 51 | ||||||
| 450153 | Apple Island | 1.771 | < l.d.l. | < l.d.l. | 1 | 74 | ||||||
| 450154 | Apple Island | 86.461 | 0.025 | < l.d.l. | 3 | 99 | ||||||
| Notes: | ||||||||||||
| 1. g/t denotes grams per tonne | ||||||||||||
| 2. ppm denotes parts per million | ||||||||||||
| 3. < l.d.l. denotes values that are less than the lower detection limit for the analytical method | ||||||||||||
Assay Results from the Hoey Syndicate Occurrence Zone
- Three (3) of the samples, taken from the Hoey Syndicate Occurrence Zone, returned positive assay results for Pt, Pd, Cu, and Ni, which are presented below:
| Sample ID | Gold (Au) g/t |
Platinum (Pt) g/t |
Palladium (Pd) g/t |
Copper (Cu) ppm |
Nickel (Ni) ppm |
|||||
| 450107 | 0.038 | 0.086 | 0.342 | 2,585 | 1,468 | |||||
| 450108 | 0.068 | 0.143 | 0.563 | 3,913 | 1,613 | |||||
| 450111 | 0.047 | 0.174 | 0.669 | 4,549 | 758 |
“The results of the Summer 2016 Surface Sampling Program were very positive and re-confirm the East Bay Property’s prospectivity for Gold, Platinum, Palladium, Copper and Nickel mineralization,” said Kabir Ahmed, Chairman, President and CEO of Reliant Gold. “The assay results support a future follow-up drilling program, with additional surface sampling and prospecting, at the East Bay Property.”
Mr. Rick Risto, M.Sc., P.Geo., Senior Associate Geologist of Watts, Griffis and McOuat Limited (“WGM“), and a Qualified Person as defined by National Instrument NI 43-101 (“NI 43-101“), supervised the preparation of the technical information contained in this press release in compliance with NI 43-101. Both Mr. Risto and WGM are independent of Reliant Gold. Neither Mr. Risto nor WGM were involved in the collection of the samples or sample analysis. Mr. Risto has, however, reviewed the descriptions of sampling and assaying and results and is of the opinion that the results confirm the historical information available in relation to the Corporation’s East Bay Property, and is not aware of any reason to doubt the legitimacy of the results herein disclosed.
ABOUT RELIANT GOLD
Reliant Gold is a junior mineral exploration company with an experienced management team engaged in the acquisition, exploration and development of properties for the mining of precious and base metals. Reliant Gold currently holds a 100% interest in the East Bay Property, comprised of 56 mineral claim units totalling 896 hectares in the McVicar Lake area, located approximately 90 kilometres west of Pickle Lake, Ontario, and 130 kilometres southwest of Goldcorp Inc.’s Musselwhite Gold Mine.
The common shares of Reliant Gold trade on the TSX Venture Exchange under the stock symbol “RNG”. The Corporation has 22,945,169 common shares issued and outstanding.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release may constitute “forward-looking” statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Reliant Gold or the industry in which it operates to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words “estimate”, “believe”, “anticipate”, “intend”, “expect”, “plan”, “may”, “should”, “will”, the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current expectations of the management of Reliant Gold with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading “Risk Factors”, in Reliant Gold’s prospectus and in other continuous disclosure documents that are filed by Reliant Gold from time to time with the Ontario, Alberta or British Columbia Securities Commissions which are available at www.sedar.com and to which readers of this press release are referred for additional information concerning Reliant Gold, its prospects and the risks and uncertainties relating to Reliant Gold and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of Reliant Gold to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Reliant Gold cannot assure investors that actual results will be consistent with these forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.
The forward-looking information contained in this press release is current only as of the date hereof. Reliant Gold does not undertake or assume any obligation, except as required by law, to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
No securities commission or regulatory authority has approved or disapproved the contents of this press 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.
