VANCOUVER, British Columbia, May 27, 2024 (GLOBE NEWSWIRE) — Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the commencement of the 2024 surficial exploration program at our Castle Rock property on northern Vancouver Island, British Columbia (BC).
The program will consist of follow-up exploration on the results obtained during 2023 (see Figure 1 below, and November 27th, 2023 news release) as well as reconnaissance exploration on unexplored ground.
Figure 1: Areas of focus for the 2024 exploration program. Soil geochemical anomalies and highlighted rock samples from the 2023 surface sampling program are overlain on geological and structural interpretations of the regional airborne magnetic survey. Sampling defined a 3 km gold-in-soil trend which includes the Heart, Watchtower, and Kokummi zones. The 2024 exploration program will follow up on results at the newly discovered Watchtower and Kokummi zones, the historic Flan zone, and will investigate unexplored ground along trend to the northwest.
During 2023, a 3 km gold-in-soil geochemical anomaly was defined along a magnetic lineament. This anomaly includes the Heart zone (historic chip sample of 2.0 g/t Au [gold] over 30 metres1) as well as the newly discovered Kokummi and Watchtower zones. Interpretation of airborne magnetic data indicates that mineralization is associated with northwest-trending structures splaying off from the Kokummi granodioritic stock in the southwest property area. This interpretation suggests that much of the property with mineral potential has not yet been explored.
The 2024 exploration program will consist of approximately 400 soil geochemical samples combined with prospecting of the Watchtower and Kokummi zones, in an effort to expand and define the geochemical signature.
Reconnaissance exploration will also be conducted on unexplored ground along trend to the northwest, as well as on the Flan zone. The Flan zone includes a historic showing that has returned assays of up to 135 g/t Au in boulders2. Exploration in 2023 confirmed high-grade gold mineralization, with assays up to 42.1 g/t Au and 1.93% Cu (copper). As well, basalt-hosted semi-massive pyrite-chalcopyrite-pyrrhotite mineralization sampled in outcrop returned assays up to 3.1 g/t Au. It is believed that this outcrop-hosted mineralization is associated with the float samples, and that higher-grade material is likely not exposed due to vegetation and/or till cover.
Message from the President
“The Castle Rock property represents an exciting opportunity for new mineral discoveries in an area with little historic exploration. We are eager to follow-up on the 2023 results and to continue advancing the project. There’s a lot of unexplored ground here with high potential for new discoveries.”
– Daithi Mac Gearailt
About the Castle Rock property
The Castle Rock property covers 3,108 hectares of land on northern Vancouver Island, approximately 70 km northwest of Campbell River, BC. It was acquired by Trailbreaker in 2022 and consolidated through an option agreement (see August 8, 2023 news release). Trailbreaker conducted initial exploration assessment work in 2022 and followed up with a second surface exploration program in 2023.
The claims cover five BC Minfile occurrences located along a district-scale structure that is >5 km-long, with newly identified gold ± copper-enriched intrusions. These Minfile occurrences represent relatively new discoveries, mostly due to access created by recent logging activity.
Northern Vancouver Island is host to several large Cu-Au porphyry deposits including Northisle Copper and Gold’s Hushamu deposit (Inferred resource of 5.57 Moz AuEq)3, and BHP Billiton’s past producing Island Copper porphyry copper deposit (produced >2.7 B lb Cu and >1.0 Moz Au) 3.
At the Castle Rock property, gold is dominantly hosted by Jurassic granodiorite dykes which have been emplaced along a regional-scale fault zone separating Lower to Middle Triassic Daonella Bed sedimentary rocks from Upper Triassic Karmutsen Formation basalts.
About Trailbreaker Resources
Trailbreaker Resources is a project generator focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. We are committed to continuous exploration and research, allowing us to maintain a portfolio of quality mineral properties which in turn provides value for our shareholders. The company has an experienced management team with a proven track record as project generators and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker’s BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at [email protected].
References
1) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20399
2) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20396
3) https://cmscontent.nrs.gov.bc.ca/geoscience/PublicationCatalogue/InformationCircular/BCGS_IC2014-04.pdf
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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/c58b6f3e-488f-4cfc-bd7d-30529e4867ba
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