Stakeholder Commences Ballarat Project Exploration Program, Yukon
Toronto, Ontario--(Newsfile Corp. - June 14, 2016) - Stakeholder Gold Corp. (TSXV: SRC) ("Stakeholder" or the "Company") announces the start of exploration on its wholly-owned Ballarat Gold Project located in the White Gold District of the Yukon Territory.
GroundTruth Exploration Inc. will conduct the exploration program starting at the Northwest zone and will then move 7.5 km east to the Eastern zone. Planned work for the Phase 1 program includes:
- a drone-generated high resolution topographic survey of the entire property (~40 sq. km.)
- detailed geological mapping of Northwest and Eastern zones
- 21 DC IP-resistivity profiles at the Northwest zone totaling just over 8.2 line-km
- 5 DC IP-resistivity profiles at the Eastern zone totaling just over 2.1 line-km
- a minimum of 8 GT Probe lines totaling over 3.15 line-km to test the bedrock interface at 5 m intervals at the Northwest zone
- conventional soil sampling at the Eastern zone over a grid measuring 1.3 km by 1.7 km.
The Phase I program should take about 4 weeks to complete.
Pending success, the Company is planning a Phase II program for 2016 that will include RAB (rotary air blast) drilling of targets defined in Phase I.
The target at Ballarat, like many of the gold deposits in the Yukon Range, is a structurally-controlled (orogenic) type, hosted by moderate to high grade metamorphic rocks that have undergone subsequent large scale faulting and localized intrusion with accompanying hydrothermal alteration and mineralization.
On May 12, 2016, Kaminak Gold Corp. announced that Goldcorp Inc. had agreed to acquire the Coffee Gold Project by purchasing all of the outstanding Kaminak shares, a transaction value of CDN $520 million (Kaminak press release, May 12, 2016.)
The Coffee Deposit is located about 17 km southwest of the Northwest zone on Ballarat.
John Nebocat, P.Eng is a Qualified Person under NI 43-101, and has reviewed and approved the technical portions of this news release.
About Stakeholder Gold Corporation
Stakeholder Gold Corp. is a Canadian mineral exploration company headquartered in Toronto, Canada. The primary focus of Stakeholder is to explore and develop the Ballarat Gold Property in the White Gold District of the Yukon Territory.
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 press release was reviewed and approved by Mr. Nebocat, (P.Eng), a qualified person as defined by NI 43-101.
For more Stakeholder Gold Corp. information, please contact
Christopher J. Berlet, CFA
President & CEO
416 525-6869
cberlet@stakeholdergold.com
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 of this release.
Forward-Looking Statements: This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the prevailing price of natural gas, the Canadian-United States exchange rate, amount of gas produced that could affect revenues and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Company's annual financial statements and MD&A.