DRILLING INTERSECTS GOLD, SILVER AND BASE METAL VALUES IN THE SWANN ZONE ON THE HARRY PROPERTY, GOLDEN TRIANGLE, BC
Vancouver, British Columbia –April 20, 2022 – Optimum Ventures Ltd. (“Optimum” or the “Company”) (TSXV:OPV), is pleased to report the results from its 2021 surface exploration program conducted on the Harry Property in Northwestern British Columbia, prior to the onset of winter. Results are for 4 short drill holes testing the area of high-grade gold-silver base metal bearing boulders as well as numerous boulders in the area of the Swann zone. Several other areas of the property were investigated and returned positive results indicating additional target areas for 2022 exploration.
- Hole S21-3 intersected 15.64m grading 1,437 g/t Silver Equivalent (433.4 g/t Ag, 3.10 g/t Au, plus significant base metal credits, cf. table below for details).
- Hole S21.4 intersected 9.26m grading 1,833 g/t Silver Equivalent (690.15 g/t Ag, 1.64 g/t Au plus significant base metal credits, cf. table below for details).
- Sampling from a float boulder train produced high-grade results: the average value of 22 samples taken from the vicinity of the Swann showings is 74.22 g/t Au, 842.9 g/t Ag, 37.6 % Pb, 1.18 % Cu and 28.9 % Zn.
The 2021 exploration concentrated on a broad zone of quartz-sericite-pyrite (QSP) alteration hosting several showings, two of which, the Milestone and Swann, have featured visible gold in surface samples. An outcrop of Premier Porphyry, a particular type of intrusive known to be spatially associated with precious metal mineralization at the nearby, formerly-producing Premier gold mine (now owned by Ascot Resources), has been observed in the vicinity of the Milestone and Swann showings. [ satellite map and drill section available at www.optimumventures.ca]
Four short holes were drilled during the abbreviated 2021 program. The last two of the holes intersected the Swann zone in an overburden covered area, indicating it was an east-dipping stockwork. Based on the initial drilling, interpreted width of the Swann zone appears to be in the order of 5-7m. Assays of these holes returned very encouraging precious and base metal values as detailed below:
The first 2 holes of the program appear to have penetrated the footwall region of the Swann zone with narrow stringers of base metal in quartz containing low precious metal values. DDH21-2 had 0.91m of 11.77 Ag and 2.17% Zn as well as 3.05 m of 21.66 g/t Ag and 2.24 % Zn.
“When we optioned the Harry property we anticipated the potential for some impressive grades, but these assays have identified multiple base and precious metals, and are well above initial expectations,” Optimum CEO, Tyler Ross, commented. “ We look forward to aggressively exploring the Harry project this upcoming drill season.”
Continued Surface Sampling
The Company forwarded an additional 16 grab samples taken from Swann zone boulders for assaying along with the core samples. Results of these sent grab samples on the Swann zone include up to:
286,2 g/t Au, 2202 g/t Ag, 62.19 % Pb, 2.87 % Cu and 28.9% Zn
The 22 samples collected to date (initial 6 reported previously plus these additional 16) from the discovery boulders show a range of 0.76 to 286.2 g/t Au, 246 to 2202 g/t Ag, 21.5 to 57.33 % Pb, 0.07 to 2.87 % Cu and 0.41 to 32.11 % Zn. The average value of these samples is:
74.22 g/t Au, 842.9 g/t Ag, 37.6 % Pb, 1.18 % Cu and 28.9 % Zn
Of particular interest, narrow sulphide stringer sin bedrock parallel to the indicated strike of the Swann zone located within 25 m of the discovery boulders showed high gold and silver values. Sample A21-62 from one of these stringers assayed 45.2 g/t Au, 1111 g/t Ag, 9.38 % Pb, 2.74 % Cu and 20.88% Zn.
In addition, reconnaissance sampling was carried out on mineralized sub crop quartz along several other QSP zones along the lower Granduc Road prior to snowfall. These east-west zones of sub crop appear to be up to 5 m wide with strong pyrite veining and narrow quartz veining with base metals. One zone is located 1.7 km south of the Swann zone and sampling indicates up to 1.99 g/t Au and 15.63 g/t Ag, another zone 1.5 km south gave 1.58 g/t Au and 65.92 g/t Ag while a third zone 1.2 km south assayed 2.17 g/t Au and 245 g/t Ag.
Note: Grab samples are solely designed to show the presence or absence of any mineralization and to characterize the metal tenor in this mineralization. Grab samples are by definition selective and not intended to provide nor should be construed as a representative indication of grade or mineralization at the property; and the grab samples analyzed from the property reflect a broad range in grade from below detection limit to the grades highlighted herein.
Ed Kruchkowski, director of Optimum Ventures stated: “Finding visible gold in massive to semi-massive boulders at surface leading to the discovery of the Swann zone confirms the potential of the Harry property. With the surface results from the Milestone zone discovered in 2020 (7.86 ounces per ton gold–269.5 g/t–across a 2 metre width) and Swann zone drill intersections, the Company is excited for the up coming 2022 exploration program being finalized. The Company initially plans an aggressive program including mapping, sampling and drilling once the 2022 surface work is compiled. The property shows similarities to both the Valley of Kings and Premier deposits based on my experiences working on them. With the rapid ablation of glacial ice and large areas of the property that have not been explored, particularly the bright gossans being exposed,the Company anticipates numerous new exciting discoveries.”
Analysis on samples from 2021 and 2022 was performed by MSA Laboratories located at Langley, BC.
Optimum Ventures Ltd. is a Canadian based mineral exploration company actively seeking opportunities in the resource sector. Its properties and projects are all located in British Columbia and the extensions of the “Golden Triangle” area of northern British Columbia into Alaska. For more information visit www.optimumventures.ca.
Mr. Edward Kruchkowski P.Geo., a member of the Company’s Board of Directors, is a qualified person for the purposes of National Instrument 43-101 and has reviewed and approved the technical information contained herein.
Quality assurance/ quality control
Optimum Ventures inserted blanks and standards within the sample stream to improve quality control. MSALabs, the accredited laboratory which performed the analyses, also ran internal standards and blanks as a check on their results. Pulps and rejects are retained for future analyses, if needed.
FOR FURTHER INFORMATION PLEASE CONTACT:
Optimum Ventures Ltd.
Tel: (604) 428-6128
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Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events including, among others, assumptions about future prices of gold, silver, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining government approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the impact of the COVID-19 pandemic, availability of equipment, availability of drill rigs, and anticipated costs and expenditures. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to Optimum’s ability to complete all payments and expenditures required under the Option Agreement; and other risks and uncertainties relating to the actual results of current exploration activities, the uncertainty of reserve and resources estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; risks relating to grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with adjacent properties and the Company’s expectations; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); metal price fluctuations; environmental and regulatory requirements; availability of permits, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, political risks, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks involved in the mineral exploration and development industry, and those risks set out in the filings on SEDAR made by the Company with securities regulators. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company 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, other than as required by applicable securities legislation.