|

OPTIMUM VENTURES DISCOVERS SEVERAL NEW ZONES OF MINERALIZATION ON THE HARRY PROPERTY

Vancouver, British Columbia –August 18, 2022 – Optimum Ventures Ltd. (“Optimum” or the “Company“) (TSXV: OPV) is pleased to report several new zones of mineralization on the Company’s Harry property located in the Golden Triangle in NW British Columbia. Recent mapping has indicated a sequence of volcanic rocks in the NE portion of the claim block with thick sections of mudstone in the SW, both of which are intensely altered with zones of mineralization with an abundance of sericite and pyrite. Quartz veins, quartz breccias, and semi-massive sulphides also occur within these alteration zones. These wide zones of intense alteration trend N and NW along the claim length. This type of alteration and mineralization is similar to nearby gold deposits being developed at the Premier mine and at Brucejack Lake, with mineralization in the mudstone similar to Eskay Creek. 

Summit
Located in the NW corner of the claim group, a quartz breccia zone 1-2 m wide, part of a 50m wide alteration corridor carries pockets and stringers of tetrahedrite, green sphalerite (similar to that of the Swann zone 1km SE) and galena with minor pyrite. In the footwall region of the zone, several parallel zones of quartz breccia with sulphides occur. Drill pads are presently being constructed for planned drilling in early September, consisting of short holes to test the width and tenor of gold-silver-lead-zinc mineralization. 

Milestone
Discovered in 2020, this new mineralized zone in quartz breccias associated with fine arsenopyrite averaged 2 m of 7.86 oz/ton gold (269.5 g/t), with the full width of this new zone not being truly defined due to overburden cover. The Company plans to complete Shaw shallow drilling on the area of coarse gold and an east extension.  

Swann
Work completed in late 2021 indicated the occurrence of semi to massive sulphides, sphalerite, galena, tetrahedrite, chalcopyrite, and pyrite in sub-outcrop with the presence of fine visible gold within the mineralization, particularly green sphalerite. Drill results intersected the Swann zone with the following:

The Company plans to expose the sub-crop’s area to determine the zone’s strike and dip before the upcoming drilling. Drilling on the Swann will be the last area tested as its close proximity to roads is not hampered by bad weather.

BR (new)
Located near the Swann zone, BR is approximately 100m higher in elevation. The zone consists of massive galena with minor sphalerite veinlets in a stockwork zone. The zone is poorly exposed in an overburden-covered area. Further work is required to determine if it is part of the Swann zone. Several drill holes are planned in this highly accessible zone.

Ursula (new)
The zone consists of massive pyrite with minor galena and sphalerite exposed over 10 m wide. Galena-rich boulders up to 1m in diameter located down ice from an overburden-covered area in the zone indicate the possibility of strike extension. Chip sampling and Shaw drill testing are planned for this zone. 

Saw Cut (new)
A zone of pyrite and sphalerite in mudstones was located along the edge of the Salmon Glacier with the presence of hydrozincite and zinc carbonate over an extensive area. Coarse pyrite and fine sphalerite occur along layers of fine beds in this zone. This mineralization type appears to be similar to the Eskay Creek deposit. Further sampling and drilling are to be planned here.

GS (new)
A new discovery occurring within north trending sediments including, galena and sphalerite mineralization along a stockwork zone. Additional sampling is planned as the Company continues to define this new discovery.

“We were excited to begin this seasons’ exploration at Swann on the back of last year’s successful drilling,” commented Tyler Ross, CEO of Optimum Ventures.  “Glacial ice crews have outlined several new zones from which we are awaiting assay results from over 700 samples taken” to confirm the zone’s potential The discovery of this mineralized corridor solidifies our belief in the robust potential of The Harry Project.”

Over 600 talus fines, grab and chip samples, Shaw drill core, and saw cut channel samples have been collected, 500 of which have been sent to labs pending assay. 

The IP survey has been completed and the Company awaits the preliminary survey results.

Qualified Person
Mr. Kruchkowski, PGeo, 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. MSA Labs, the accredited laboratory that performed the analyses, also ran internal standards and blanks to check its results. Pulps and rejects are retained for future analyses if needed.

About Optimum
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.The company has an option agreement with Teuton Resources Corp. pursuant to which Teuton has agreed to grant to Optimum the option to acquire an up to 80-per-cent interest in the Harry and Outland Silver Bar properties, located near Stewart, B.C. For more information visit www.optimumventures.ca.

FOR FURTHER INFORMATION PLEASE CONTACT:

Tyler Ross
Optimum Ventures Ltd.
Tel: (604) 428-6128
info@optimumventures.ca

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.

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.

Similar Posts

Leave a Reply

Your email address will not be published.