Canstar Intersects 11.8 g/t Gold over 5.7 Metres at Kendell, Commences Winter Drill Program

2022-02-08 / @thenewswire

 

(TheNewswire)

Canstar Resources Inc.

Toronto, Ontario – February 8, 2022 – TheNewswire - CANSTAR RESOURCES INC. (TSXV:ROX) (OTCPK:CSRNF) (“Canstar” or the “Company”) is pleased to announce additional assay results from 2021 drilling and channel sampling from the Kendell prospect at its Golden Baie project in south Newfoundland. The Company also announces that a winter diamond drill program has commenced at the Kendell prospect.  This program is expected to include up to 35 new drill holes which total approximately 2,000 metres and reflect the shallow nature of the mineralization.

Drilling highlights from the final 2021 drill hole assays at the Kendell prospect are provided in Table 1 and include some of the highest-grade intervals to date from this prospect.  In addition, gold mineralization was extended by approximately 50 metres down-dip. Notable intervals and higher grade intercepts include:

  • 11.8 g/t gold over 5.69 metres in drill hole GB-21-50 

  • 45.7 g/t gold over 1.07 metres near surface in drill hole GB-21-20 

  • 11.7 g/t gold over 3.00 metres including 249.7 g/t gold over 0.09 metres in drill hole GB-21-51  

Selected detailed drill hole assay results and collar data are provided in Tables 3 and 4, respectively. All assays from drill hole and channel samples from Kendell have now been received and reported. Additional infill sampling of selected 2021 drill core is now being done to ensure that all core from the interpreted zone of mineralization has been assayed.

Table 1 - Highlight assay results from Kendell reported drill holes

Drill Hole

From (m)

To (m)

Length (m)

Gold (g/t)

GB-21-18

2.28

5.60

3.32

4.9

   including

2.77

3.40

0.63

19.1

GB-21-19

3.35

4.57

1.22

5.2

GB-21-20

2.00

4.10

2.10

24.3

   including

2.00

3.07

1.07

45.7

GB-21-22

2.95

4.95

2.00

9.5

GB-21-50

21.89

27.58

5.69

11.8

GB-21-51

10.32

13.32

3.00

11.7

   including

11.14

11.23

0.09

249.7

GB-21-53

29.63

33.56

3.93

12.2

   including

30.82

31.45

0.63

58.3

  Notes:

  1. All intersections are downhole length as there is insufficient information to calculate true width. 

  2. Reported grades have not been capped. 

Matthieu Lapointe, VP Exploration of Canstar, commented: “We continue to be encouraged by the shallow, high-grade gold intercepts at the Kendell prospect. Gold mineralization has been observed in a 50 by 100 metre footprint that remains open along strike and down-dip/plunge. With less than 3,000 metres drilled to date, and limited drilling below 150 metres vertically, there is remarkable potential to expand the mineralization. Given the results announced today, we are excited to commence a winter drill program to further improve our understanding of the controls on gold mineralization and to better define and extend the high-grade gold mineralization identified from the 2021 drilling.”

Additional channel samples from the Kendell prospect trench were also collected in the summer of 2021.  The highlights of the channel samples are provided in Table 2 and are interpreted as the surface expression of the gold mineralization intercepted by the drill holes.

Table 2.  Highlight assay results from Kendell channel sampling

Channel

Composite

M

10.4 g/t Au over 7.9m

L

9.4 g/t Au over 6.9m

Discussion of Assay Results

Drill holes GB-21-17 to GB-21-19 were drilled from the same platform to test the area below Channel F from the Kendell TGB-20-01 trench, which returned 2.9 g/t gold over 11.0 metres, including 6.2 g/t gold over 5.0 metres (announced November 30, 2020).  See the plan map in Figure 1 and vertical section in Figure 2. Drill holes GB-21-18 and GB-21-19 intersected gold mineralization associated with quartz veining and acicular arsenopyrite starting from a depth of two to three metres down hole. Drill hole GB-21-17 was not sampled at the projected depth of the mineralization and this interval is now being sampled as part of the infill sampling program.

 


Click Image To View Full Size

 

Figure 1 - Plan view of Kendell Target showing collars of 2021 drill holes (36 holes drilled, 2,620 metres total)

Drill holes GB-21-20 to GB-21-22 were drilled from the same platform to test the area below Channel G in trench TGB-20-01, which yielded an average grade of 4.7 g/t gold over 6.7 metres, including 10.2 g/t gold over 3.0 metres (see Figures 1 and 3). Drill holes GB-21-20 and GB-21-21 intersected 2.0 metre intervals of 24.3 g/t gold and 9.5 g/t gold, respectively. Coarse gold is generally associated with quartz veining and acicular arsenopyrite.

 


Click Image To View Full Size

Figure 2 – Kendell Section A-A’ Showing newly reported drill hole assays (looking northeast). Mineralization is open to depth (down-dip) and along strike to the NE and SW.

 

Drill holes GB-21-50 to GB-21-55 were drilled from two platforms, with three holes per platform, and were designed to test the area 20 to 50 metres down-dip of the mineralization intersected in drill holes GB-21-01 to GB-21-13 (see vertical section in Figure 4). It is interpreted that these drill holes have intersected two mineralized zones, an upper zone approximately one to three metres in length and a lower zone which ranges from three to six metres in length. Both zones are associated with quartz veining and arsenopyrite plus antimony-bearing minerals that are hosted in deformed black shales. The intersection lengths and mineralization styles are comparable to those noted up-dip and the zones appear to form a continuous horizon.

 


Click Image To View Full Size

 

Figure 3 – Kendell Section B-B’ Showing newly reported drill hole assays (looking northeast). Mineralization is open to depth (down-dip) and along strike to the NE and SW.


Click Image To View Full Size

 

Figure 4 – Kendell Section C-C’ Showing highlights of newly reported assays (looking northeast). Mineralization is open to depth (down-dip) and along strike to the NE and SW

Winter Drill Program

Gold mineralization at Kendell was delineated over a down-dip length of approximately 100 metres and a strike length of 50 metres based on assays from 36 drill holes in the 2021 drill program (Figure 5).  Mineralized intercepts ranged from one metre to 11 metres in length and are spatially associated with metasedimentary rocks within the interpreted hanging wall of a fault zone that is defined by a four metre to 10 metre thick strongly sheared unit of dark grey to black graphitic shale.  

Gold mineralization remains open along strike and down-dip/plunge at the Kendell prospect, as shown in Figure 5.  A winter diamond drill program has now commenced to test the continuity of the shallow-dipping gold mineralization along strike, down-dip, and down-plunge.  The Company anticipates that the drill program will consist of approximately 2,000 metres in up to 35 drill holes.


Click Image To View Full Size

 

Figure 5 - Kendell Plan Map Showing Mineralized Intercepts and Areas to be Drill Tested

Acknowledgements

Canstar wishes to acknowledge the financial support of the 2021 exploration program through the Junior Exploration Assistance Program from the Department of Natural Resources, Government of Newfoundland and Labrador.

QA/QC:

All rock samples were collected by company personnel and shipped to Eastern Analytical of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and completely independent of Canstar Resources Inc. Samples are analyzed for gold using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis for 34 additional elements. Metallic screening is being used for samples with visible gold and all samples with initial fire assays over 1.0 g/t Au. In addition to Eastern Analytical’s quality control program of standards, blanks and duplicates, Canstar’s QAQC program utilizes four commercially available reference standards, blanks and duplicate samples to ensure data quality. In addition, duplicates of selected samples are being sent to a second laboratory as check assays.

Qualified Person

Bob Patey, B.Sc., P.Geo, Senior Geologist of Canstar, and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, is responsible for the scientific and technical data presented herein and has reviewed and approved this release.

About Canstar Resources Inc.

Canstar is focused on district-scale gold exploration in Newfoundland, Canada. Canstar has a 100% interest in the Golden Baie and Hermitage projects, large claim packages at the south end  south-central Newfoundland covering 77,350 hectares or 774 km2 with multiple outcropping gold occurrences on a major structural trend. The Company also holds the Buchans-Mary March project and other mineral exploration properties in Newfoundland. Canstar Resources is based in Toronto, Canada, and is listed on the TSX Venture Exchange under the symbol ROX and trades on the OTCPK under the symbol CSRNF.

 

For further information, please contact:

Rob Bruggeman, President & CEO

Email:        rob@canstarresources.com

Phone:        1-647-247-8715

Website:www.canstarresources.com

 Table 3 - Selected drill hole sample assays

Hole ID

From (m)

To (m)

Length (m)

Au (ppb)

GB-21-07

2.33

3.45

1.12

13

GB-21-07

3.45

4.4

0.95

84

GB-21-07

4.4

5.42

1.02

158

GB-21-07

5.42

6.22

0.8

532

GB-21-07

6.22

7.29

1.07

46

GB-21-07

7.29

7.67

0.38

8

GB-21-16

NSR

GB-21-17

NSR

GB-21-18

1.4

2.28

0.88

69

GB-21-18

2.28

2.77

0.49

954

GB-21-18

2.77

3.4

0.63

19089

GB-21-18

3.4

4.15

0.75

4237

GB-21-18

4.15

5.6

1.45

267

GB-21-18

5.6

6.6

1

371

GB-21-18

51

52

1

6

GB-21-19

1.15

2.35

1.2

76

GB-21-19

2.35

3.35

1

45

GB-21-19

3.35

4.57

1.22

5220

GB-21-19

4.57

5.58

1.01

371

GB-21-19

5.58

6.5

0.92

718

GB-21-19

6.5

7.5

1

128

GB-21-19

7.5

8.6

1.1

28

GB-21-19

27.3

28.38

1.08

19

GB-21-20

1

2

1

271

GB-21-20

2

3.07

1.07

45682

GB-21-20

3.07

4.1

1.03

2050

GB-21-20

4.1

5.04

0.94

231

GB-21-20

5.04

6.08

1.04

10

GB-21-20

6.08

7.08

1

2.5

GB-21-21

1

1.8

0.8

195

GB-21-21

1.8

2.95

1.15

350

GB-21-21

2.95

4.03

1.08

11214

GB-21-21

4.03

4.95

0.92

7512

GB-21-21

4.95

5.95

1

488

GB-21-21

5.95

6.8

0.85

37

GB-21-21

6.8

7.8

1

34

GB-21-22

NSR

GB-21-49

19.11

20.3

1.19

7

GB-21-49

20.3

20.8

0.5

30

GB-21-49

20.8

21.33

0.53

67

GB-21-49

21.33

22

0.67

2639

GB-21-50

8.37

9.31

0.94

5

Hole ID

From (m)

To (m)

Length (m)

Au (ppb)

GB-21-50

9.31

10.02

0.71

6

GB-21-50

10.02

10.88

0.86

4463

GB-21-50

10.88

11.9

1.02

1326

GB-21-50

11.9

12.87

0.97

382

GB-21-50

12.87

13.85

0.98

186

GB-21-50

13.85

14.85

1

89

GB-21-50

14.85

15.87

1.02

12

GB-21-50

15.87

16.87

1

25

GB-21-50

16.87

17.72

0.85

20

GB-21-50

17.72

18.74

1.02

11

GB-21-50

18.74

19.2

0.46

30

GB-21-50

19.2

19.95

0.75

43

GB-21-50

19.95

20.9

0.95

1143

GB-21-50

20.9

21.89

0.99

414

GB-21-50

21.89

22.46

0.57

2332

GB-21-50

22.46

22.95

0.49

12507

GB-21-50

22.95

23.68

0.73

1161

GB-21-50

23.68

24.62

0.94

21427

GB-21-50

24.62

25.26

0.64

14303

GB-21-50

25.26

26.26

1

20201

GB-21-50

26.26

27.17

0.91

6164

GB-21-50

27.17

27.58

0.41

5661

GB-21-50

27.58

28.22

0.64

343

GB-21-50

28.22

28.73

0.51

68

GB-21-50

28.73

29.72

0.99

62

GB-21-50

29.72

30.46

0.74

35

GB-21-50

30.46

31.2

0.74

2.5

GB-21-50

31.2

31.88

0.68

9

GB-21-50

31.88

32.5

0.62

1361

GB-21-50

32.5

33.22

0.72

1246

GB-21-50

33.22

33.45

0.23

10

GB-21-50

33.45

33.5

0.05

5

GB-21-51

7.88

8.96

1.08

47

GB-21-51

8.96

9.82

0.86

45

GB-21-51

9.82

10.32

0.5

33

GB-21-51

10.32

11.14

0.82

8086

GB-21-51

11.14

11.23

0.09

249744

GB-21-51

11.23

12.29

1.06

4815

GB-21-51

12.29

13.32

1.03

773

GB-21-51

13.32

14.47

1.15

378

GB-21-51

14.47

15.1

0.63

71

GB-21-51

20.19

20.89

0.7

27

GB-21-51

20.89

21.6

0.71

99

Hole ID

From (m)

To (m)

Length (m)

Au (ppb)

GB-21-51

21.6

22.2

0.6

377

GB-21-51

22.2

23.03

0.83

340

GB-21-51

23.03

23.93

0.9

649

GB-21-51

23.93

24.82

0.89

2319

GB-21-51

24.82

25.85

1.03

2069

GB-21-51

25.85

26.85

1

276

GB-21-51

26.85

27.41

0.56

240

GB-21-51

27.41

28.18

0.77

127

GB-21-51

28.18

29.27

1.09

1770

GB-21-51

29.27

30.23

0.96

54

GB-21-51

30.23

30.8

0.57

355

GB-21-51

30.8

31.13

0.33

14

GB-21-51

31.13

31.41

0.28

5580

GB-21-51

31.41

32.33

0.92

18

GB-21-51

32.33

32.8

0.47

13

GB-21-51

32.8

33.18

0.38

6

GB-21-52

10.1

11.09

0.99

2.5

GB-21-52

11.09

11.67

0.58

174

GB-21-52

11.67

12.16

0.49

6364

GB-21-52

12.16

13.53

1.37

252

GB-21-52

13.53

14.29

0.76

1803

GB-21-52

14.29

15.11

0.82

46

GB-21-52

15.11

16.07

0.96

220

GB-21-52

16.07

16.45

0.38

170

GB-21-52

16.45

17.5

1.05

15

GB-21-52

17.5

18.51

1.01

14

GB-21-52

23.86

24.64

0.78

730

GB-21-52

24.64

25.17

0.53

591

GB-21-52

25.17

26

0.83

702

GB-21-52

26

26.52

0.52

1493

GB-21-52

26.52

27.1

0.58

391

GB-21-52

27.1

27.74

0.64

1279

GB-21-52

27.74

28.73

0.99

120

GB-21-52

30.99

31.14

0.15

84

GB-21-52

40.17

41.1

0.93

6

GB-21-53

18.28

19.09

0.81

12

GB-21-53

19.09

20.1

1.01

33

GB-21-53

20.1

21

0.9

2716

GB-21-53

21

21.55

0.55

51

GB-21-53

21.55

22.1

0.55

356

GB-21-53

22.1

23.18

1.08

1662

GB-21-53

23.18

23.85

0.67

322

GB-21-53

23.85

24.55

0.7

609

Hole ID

From (m)

To (m)

Length (m)

Au (ppb)

GB-21-53

24.55

25.08

0.53

100

GB-21-53

25.08

25.97

0.89

35

GB-21-53

25.97

27.01

1.04

3643

GB-21-53

27.01

27.69

0.68

19

GB-21-53

27.69

28.45

0.76

16

GB-21-53

28.45

29.11

0.66

13

GB-21-53

29.11

29.63

0.52

45

GB-21-53

29.63

29.75

0.12

6617

GB-21-53

29.75

30.82

1.07

4053

GB-21-53

30.82

31.45

0.63

58293

GB-21-53

31.45

32

0.55

1497

GB-21-53

32

32.69

0.69

1457

GB-21-53

32.69

33.56

0.87

4989

GB-21-53

33.56

34.54

0.98

316

GB-21-53

34.54

35.46

0.92

51

GB-21-53

36.76

37.2

0.44

77

GB-21-54

10.3

11.3

1

10

GB-21-54

11.33

12.3

0.97

9

GB-21-54

20

21

1

8

GB-21-54

21

22

1

1480

GB-21-54

22

23

1

435

GB-21-54

23

24

1

407

GB-21-54

24

25

1

235

GB-21-54

25

26

1

179

GB-21-54

26

27

1

11

GB-21-54

27

28

1

20

GB-21-54

28

29

1

22

GB-21-54

29

30

1

31

GB-21-54

30

31

1

799

GB-21-54

31

32

1

380

GB-21-54

32

33

1

148

GB-21-54

33

34

1

1095

GB-21-54

34

35

1

1056

GB-21-54

35

36

1

91

GB-21-54

36

37

1

93

GB-21-54

37

38

1

151

GB-21-54

38

39

1

405

GB-21-54

39

40

1

57

GB-21-55

2

2.96

0.96

2.5

GB-21-55

20.22

21.12

0.9

10

GB-21-55

21.12

22.2

1.08

57

GB-21-55

22.2

23.12

0.92

2215

GB-21-55

23.12

24.05

0.93

133

Hole ID

From (m)

To (m)

Length (m)

Au (ppb)

GB-21-55

24.05

25.02

0.97

93

GB-21-55

25.02

25.98

0.96

243

GB-21-55

25.98

27

1.02

374

GB-21-55

27

27.95

0.95

41

GB-21-55

27.95

28.95

1

22

GB-21-55

28.95

29.9

0.95

22

GB-21-55

29.9

30.98

1.08

6

GB-21-55

30.98

31.86

0.88

11

GB-21-55

31.86

32.79

0.93

21

GB-21-55

32.79

33.48

0.69

58

GB-21-55

33.48

34.04

0.56

1602

GB-21-55

34.04

34.93

0.89

106

GB-21-55

34.93

35.93

1

2699

GB-21-55

35.93

36.83

0.9

1301

GB-21-55

36.83

37.8

0.97

6115

GB-21-55

37.8

38.93

1.13

167

GB-21-55

96.32

97.12

0.8

10

GB-21-55

97.12

98.13

1.01

2.5

GB-21-55

100.69

101.53

0.84

15

GB-21-55

101.53

102.02

0.49

2.5

GB-21-55

102.02

103

0.98

6

GB-21-56

4.05

4.92

0.87

10

GB-21-56

4.92

5.7

0.78

33

GB-21-56

5.7

6.58

0.88

14

GB-21-56

6.58

7.35

0.77

564

GB-21-56

7.35

8

0.65

35

GB-21-56

8

8.65

0.65

1116

GB-21-56

8.65

9.63

0.98

942

GB-21-56

9.63

10.2

0.57

16

GB-21-56

10.2

11.1

0.9

17

GB-21-56

11.1

12.02

0.92

11

GB-21-56

30.36

31

0.64

20

GB-21-56

51

52

1

11

GB-21-57

4.83

5.57

0.74

25

GB-21-57

5.57

6.47

0.9

55

GB-21-57

7

7.48

0.48

184

GB-21-57

7.48

8.02

0.54

1501

GB-21-57

8.02

8.73

0.71

400

GB-21-57

8.73

9.46

0.73

13

GB-21-57

16.51

16.67

0.16

56

GB-21-57

18.71

19.37

0.66

268

GB-21-57

19.37

19.76

0.39

237

GB-21-57

19.76

20.36

0.6

144

Hole ID

From (m)

To (m)

Length (m)

Au (ppb)

GB-21-57

51

51.5

0.5

31

GB-21-57

51.5

52

0.5

2.5

GB-21-58

3.61

4.59

0.98

6

GB-21-58

4.59

5.67

1.08

2.5

GB-21-58

5.67

6.39

0.72

135

GB-21-58

6.39

7.09

0.7

37

GB-21-58

7.09

7.8

0.71

572

GB-21-58

7.8

8.56

0.76

51

GB-21-58

8.56

9.49

0.93

471

GB-21-58

9.49

10.31

0.82

86

GB-21-58

10.31

10.97

0.66

8

GB-21-58

19.6

20.77

1.17

126

GB-21-58

20.77

21.15

0.38

38

GB-21-58

21.15

21.78

0.63

196

GB-21-58

21.78

22.2

0.42

108

GB-21-58

22.2

22.36

0.16

1677

GB-21-58

22.36

23.32

0.96

178

GB-21-58

23.32

24.15

0.83

63

GB-21-58

24.15

25.15

1

869

GB-21-58

25.15

26

0.85

46

GB-21-58

26

26.25

0.25

2.5

GB-21-58

31.55

31.79

0.24

31

GB-21-58

36.4

36.88

0.48

10

GB-21-59

25.35

26.1

0.75

905

GB-21-59

26.1

27

0.9

423

GB-21-59

27

28

1

348

GB-21-59

28

28.85

0.85

567

GB-21-59

28.85

29.6

0.75

73

GB-21-59

29.6

30.16

0.56

2.5

GB-21-60

29.98

30.68

0.7

8

GB-21-60

30.68

31.4

0.72

602

GB-21-60

32.65

33.38

0.73

6

GB-21-60

33.38

34.1

0.72

5

GB-21-61

NSR

GB-21-62

21.75

22.45

0.7

56

GB-21-62

22.45

23.26

0.81

119

GB-21-62

23.26

24.27

1.01

201

GB-21-62

24.27

25.31

1.04

791

GB-21-62

25.31

26.43

1.12

10

GB-21-62

50.9

51.5

0.6

5

GB-21-62

51.5

52

0.5

54

Table 4 - Collar Data for Reported Drill Holes

Hole ID

Location

UTME

UTMN

Azimuth

Dip

Total Length (m)

GB-21-07

Kendell

596809

5297874

82

-65

50

GB-21-16

Kendell

596797

5297880

110

-85

97

GB-21-17

Kendell

596849

5297884

145

-45

52

GB-21-18

Kendell

596848

5297885

145

-65

52

GB-21-19

Kendell

596848

5297886

145

-85

28.4

GB-21-20

Kendell

596857

5297891

145

-45

52

GB-21-21

Kendell

596856

5297891

145

-65

61

GB-21-22

Kendell

596856

5297892

145

-85

82

GB-21-49

Kendell

596754

5297930

130

-45

22

GB-21-50

Kendell

596785

5297901

130

-45

82

GB-21-51

Kendell

596784

5297901

130

-65

145

GB-21-52

Kendell

596784

5297902

130

-85

112

GB-21-53

Kendell

596754

5297931

130

-65

172

GB-21-54

Kendell

596754

5297931

130

-45

109

GB-21-55

Kendell

596753

5297931

130

-85

103

GB-21-56

Kendell

596784

5297888

130

-65

52

GB-21-57

Kendell

596783

5297889

130

-45

52

GB-21-58

Kendell

596783

5297889

130

-85

49

GB-21-59

Kendell

596805

5297912

130

-45

52

GB-21-60

Kendell

596805

5297913

130

-65

52

GB-21-61

Kendell

596804

5297913

130

-85

52

GB-21-62

Kendell

596804

5297913

310

-65

52

 

Forward-Looking Statements

Neither 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 News Release includes certain "forward-looking statements" which are not comprised of historical facts. 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. Forward looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, 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, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. 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 disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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