Stelmine Canada Discovers a 2 km Geophysical Extension of the Meridian Zone at Mercator

Highlights of the survey include:

• Discovery of a new 2 km- long IP anomaly (T-Rex) open to the NE and west
• The new anomaly is amongst the strongest on the property (in part > 25mV/V)
• The geophysical and geological characteristics of the new zone are similar to those at the Meridian Zone
• The different orientations of the Meridian and T-Rex zones suggest a folded mineralized corridor.

The IP survey had two principal objectives: 1) Increase the precision of the geophysical information by decreasing the line spacing on the Meridian Zone to optimize the choice of drilling targets and 2) Finding new extensions to the known Zone (Meridian) within the T-Rex sector.

Results from a till survey completed in 2022 defined an Au, As and Cu anomalous area north of the Meridian Zone named the T-Rex Zone. A cursory exploration of the T-Rex Zone identified several outcrops and boulders of sulphide-rich iron formations and metasediments. The results of the IP survey are compelling, highlighting a new 2 km x 300m anomaly.

Click here to see the figure and the ppt presentation

Pole-Dipole IP/Resistivity Survey

The configuration of the IP survey allows a depth of investigation of up to 175 m depth, much deeper than the original survey (80 m). The new survey identified several IP anomalies generally associated with a large decrease in resistivity, magnetic structures and/or sulphide or ferromagnesian mineral-rich lithological units. The new apparent chargeability and resistivity contour maps display better delineated sectors in the core of the Meridian zone, generally oriented NE/SW and extending for 3.7 km (Figure 1). The inversion model suggests in several cases the existence of sub-horizontal conductors. On the T-Rex grid, the new NNE/SSW-oriented chargeability/resistivity anomalies over 2 km are among the strongest identified to date on the Mercator project (in part over 25mV/V).

Qualified Person

The technical information in this news release has been reviewed and approved by Michel Boily, PGeo, PhD. Mr. Boily is the qualified person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

About Stelmine Canada

Stelmine is a junior mining exploration company pioneering a new gold district (Caniapiscau) east of James Bay in the under-explored eastern part of the Opinaca metasedimentary basin where the geological context has similarities to the Eleonore mine. Stelmine has 100% ownership of 1 782 claims or 917 km² in this part of northern Quebec, highlighted by the Courcy and Mercator Projects.

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