Latest News Release -
V.STH

QUÉBEC, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Stelmine Canada (“Stelmine& or “the Company&) (TSXV: STH). Stelmine announces the discovery of a highly mineralized sulfide zone located 3 and 5 km from the T-Rex and Meridian zones, respectively. The new zone has essentially identical geological and geophysical characteristics to those of the Meridian Zone; indicating significant gold potential (Figure 1). Note that drilling carried out on the Meridian Zone returned up to 2.62 g/t Au over 17.8m, including 4.87 g/t Au over 5.6m (P.R. of May 11, 2023). Mercator (100% STH) is located in the northeastern part of Quebec, approximately 160km west of Fermont. The mapping and sampling program currently underway on the Mercator project has led to the discovery of a new mineralized zone (visual), lying approximately 2km beyond the limits of the recently completed IP survey in this area (P.R. of August 8, 2023).

This new discovery now allows following the horizons of interest over more than 8km, i.e., from the Meridian Zone to the T-Rex Zone (P.R. of August 8, 2023) up to the new zone. Grab and channel samples have been sent to the assay lab and results are pending.

Similarities between the new zone and the Meridian Zone include:

  • The new stripped areas, generally oriented E-W, show mineralization with a minimum lateral continuity of 600m. The structural elements observed, as well as the magnetic patterns, suggest the presence of a fold hinge in this sector;
  • Abundant sulfide mineralization consisting predominantly of pyrrhotite, with subordinate arsenopyrite-löllingite and traces of chalcopyrite;
  • A positive magnetic anomaly generated by pyrrhotite ± magnetite, associated with gold mineralization;
  • A highly metamorphosed lithological assemblage including metasediments with altered and metamorphosed mafic intrusions, as well as tonalitic intrusive rocks;
  • Siliceous zones that may correspond to metamorphosed cherts and/or alteration zones, locally associated with gold mineralization.

Map showing chargeability

Fig. 1: Simplified geological map showing chargeability values at 25m depth generated by the 2023 IP survey, including the magnetic anomalies (iron-rich unit) of the Meridian and T-Rex zones. The recent discovery is located approximately 3km NE of the T-Rex Zone. Note the association between zones of high chargeability and magnetic anomalies that coincide with the main host rock of the gold mineralization.

To view FIGURES and LOCALIZATION MAP, please CLICK HERE

Workers stipping outcrop

Fig. 2: Stelmine workers stripping outcrop with the mini-excavator and carrying out channel sampling in the new sector.

Typical rock from the first channel sample of the new area.

Fig. 3 : Typical rock from the first channel sample of the new area. The mafic host rock shows semi-massive patches of pyrrhotite, locally with interstitial chalcopyrite and traces of arsenopyrite.

Qualified Person

The technical information contained in this press release has been reviewed and approved by Friedrich Speidel, P.Geo, M.Sc. and Vice President Exploration of the Company. Mr. Speidel is the qualified person responsible for the scientific and technical information contained in this document under National Instrument 43-101 standards.

ABOUT STELMINE

Stelmine is a junior mining exploration company that is pursuing the development of the new Caniapiscau gold district (east of James Bay), in the underexplored eastern part of the Opinaca metasedimentary basin. Stelmine owns 100% of the 1,784 claims or 917 km² in this part of northern Quebec, highlighted by the Mercator and Courcy projects.

FORWARD-LOOKING STATEMENTS

Cautionary note regarding forward-looking Statements: This press release contains forward-looking statements, which reflect the Company's current expectations regarding future earnings-related events. To the extent that any statements in this document contain information that is not historical, then such statements are essentially forward-looking and can often be identified by the use of words such as "considers", "anticipates", "expects", "believes", "expects", "projects", "plans", "potential", "suggests" and "believes". Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration available on the SEDAR+ site. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, undue reliance should not be placed on such statements, which speak only as of the date of this document. The Company disclaims any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.

CAUTION

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.

For further information, please contact :

Isabelle Proulx, Investor Relations
President and CEO MarketSmart Communications Inc
Tel: 418-626-6333 Adrian Sydenham
iproulx@stelmine.com Sans-frais: 1-877-261-4466
info@marketsmart.ca

Follow us on: Website :Twitter : LinkedIn : Facebook:

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/11b9a468-17d5-4501-8a0a-2d4e4086e287
https://www.globenewswire.com/NewsRoom/AttachmentNg/a8dc29fa-fa8e-4846-9b58-a0b16aeef9a7
https://www.globenewswire.com/NewsRoom/AttachmentNg/872a0074-6cf6-4c37-996a-31f14f1ed58a


Primary Logo

Tags:
Investment Disclosure


The content provided on this website and in MineStockers episodes is for informational purposes only and should not be considered as an offer, solicitation, recommendation, or determination by MineStockers Inc. for the sale of any financial product or service or the suitability of an investment strategy for any investor.

Investors are advised to consult a financial professional to determine the appropriateness of an investment strategy based on their objectives, financial situation, investment horizon, and individual needs. This information is not intended to serve as financial, tax, legal, accounting, or other professional advice, as such advice should always be tailored to individual circumstances.

The products discussed herein are not insured by any government agency and carry risks, including the potential loss of the principal amount invested. Any information provided is based on both internal and external sources and should not be construed as an endorsement or conclusion regarding a company's financial prospects, resources, or management. Opinions expressed may change and should not be relied upon. It is crucial to seek personalized investment advice for your unique situation.

Natural resources investments are generally volatile, with higher headline risk than other sectors. They tend to be more sensitive to economic data, political and regulatory events, and underlying commodity prices. The prices of natural resources investments are influenced by factors such as the costs of underlying commodities like oil, gas, metals, and coal. These investments may trade on various exchanges and experience price fluctuations due to short-term demand, supply, and investment flows.

Natural resource investments often respond more sensitively to global events and economic data, including natural disasters, political turmoil, pandemics, or the release of employment data.

Investing in foreign markets may carry greater risks than domestic markets, including political, currency, economic, and market risks. It is essential to evaluate if trading in low-priced and international securities is appropriate for your circumstances and financial resources. Past performance does not guarantee future results.

MineStockers Inc., its affiliates, family, friends, employees, associates, and others may hold positions in the securities it covers. Some of the companies covered may be paying clients of the production.

No investment process is risk-free, and profitability is not guaranteed; investors may lose their entire investment. No investment strategy or risk management technique can guarantee returns or eliminate risk in any market environment. Diversification does not ensure a profit or protect against loss. Investing in foreign securities involves risks not associated with domestic investments, such as currency fluctuations, political and economic instability, and differing accounting standards, potentially leading to greater share price volatility. The prices of small- and mid-cap company stocks generally experience higher volatility than large-company stocks and may involve higher risks. Smaller companies may lack the management expertise, financial resources, product diversification, and competitive strengths needed to withstand adverse economic conditions.

logo

Studio


Toronto Ontario Canada

Email


kevin@MineStockers.com

Phone


+1 (905) 967-2519