VANCOUVER, B.C., November 27, 2023 – Goldstorm Metals Corp. (TSXV: GSTM) (FRA: B2U.F) (“Goldstorm” or “the Company”) is pleased to report results from the Company's summer reconnaissance program conducted on its 100 % owned Crown Property ("Crown" or the "Property") situated within the prolific Golden Triangle region of British Columbia. The Property comprises 5 contiguous concessions (Orion, Fairweather, Delta, Mackie West, High North), covering approximately 15,819 hectares and situated adjacent and due south of both Seabridge Gold Inc.'s KSM Property and Newmont’s Brucejack gold mine (click to view 2 maps: Orion location and concessions map for details).
During the 2023 exploration season Goldstorm exploration geologists undertook a substantial reconnaissance program across various Crown Concessions. This work was comprised of mapping and sampling with particular emphasis placed on several newly exposed outcrops revealed by recent glacial recession. Work completed on the Property included a total of 1,057 rock samples consisting of 7 channel saw-cut, 284 chip, and 766 grab samples. Tables 1-3 contain results for some of the very promising discoveries found within the Orion area along a prominent north-trending silicified and gossanous ridgeline that measures 900 meters (m) wide by 6,500 m long (click the following maps to view rock sample results for gold, silver and copper. Results from other zones sampled within the Crown Project will be released once they are received and final interpretations are completed.
Within the Orion area, exploration efforts specifically targeted a new zone, known as the Copernicus, along the upper Orion Spine. The gossanous area spans a 200-m-wide by 800-m-long concentration of sulphide mineralization containing copper, silver, zinc, and cobalt. Within this zone, 229 samples were collected, including a 0.25 m chip sample (A0519298) that yielded 0.67 g/t gold, 320.0 g/t silver, 11.96 % copper, 0.088 % cobalt, and 0.55 % zinc, as well as a 0.5 m saw-cut channel sample (OR-23-01) that yielded 0.28 g/t gold, 226.0 g/t silver, 6.95 % copper, 0.079 % cobalt, and 0.37 % zinc. A continuous channel sample line, comprised of six samples (OR-23-02), averaged 0.14 g/t gold, 57.0 g/t silver, 1.71 % copper, 0.015 % cobalt, and 0.15 % zinc over 5.15 m (click to view 3 maps: Orion sample results).
Ken Konkin, P.Geo., President and CEO, comments: “Mineralization and textures observed at the Copernicus Zone closely resemble those found in volcanogenic massive sulphide (VMS) deposits such as the Granduc and Windy Craggy deposits, which are classified as Besshi-type VMS systems, with a comparable metallogenic assemblage to that at the Copernicus Zone. However, it is very early in the exploration phase and further mapping and sampling will be required to make final determinations on the characterization of the precious and base-metal mineralization at our new discovery. Additional geological observations suggest that this mineralization may also have been re-mobilized and deposited along northerly tectonic shear systems parallel to the orientation of the Orion Spine. The Copernicus Zone was traced for approximately 400 m along the upper Orion Spine. The Company has constructed a drill pad to initiate a drill program as part of the 2024 exploration program on the Copernicus Zone. Details of the proposed drilling will be determined prior to the 2024 drilling season.”
Photo 1: 0.5 m Channel Sample OR-23-01 hosting semi-massive to massive pyrite and chalcopyrite that yielded 0.28 g/t gold, 226.0 g/t silver, 6.95 % copper, 0.079 % cobalt, and 0.37 % zinc.
Photo 2: Drill pad constructed near the end of the field season to allow 2024 drill-targeting of the at-surface mineralization.
Orion Sample Results
Table 1: Channel Sample Results for Upper Orion Spine in Press Release November 27, 2023
Table 2: Channel Sample Location Information for Upper Orion Spine in Press Release November 27, 2023
Table 3: Select Rock Sample Results for Upper Orion Spine in Press Release November 27, 2023; click link to view table for full results.
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company’s President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
QA/QC
All samples were prepared at MSA Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’ Geochemical Laboratory in Langley, BC. Gold was assayed using a fire assay with atomic absorption (AA) spectrometry finish. Samples over 10 ppm gold were fire assayed with gravimetric finish. All samples were analyzed by four acid digestion with multi-element ICP-MS, with silver and base metal over-limits being reanalyzed by emission spectrometry. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.
About Goldstorm Metals
Goldstorm Metals Corp. is a precious and base metals exploration company with a large strategic land position in the Golden Triangle of British Columbia, an area that hosts some of the largest and highest-grade gold deposits in the world. Goldstorm’s flagship projects, Crown and Electrum, cover an area that totals approximately 16,469 hectares over 6 concessions, of which 5 are contiguous. The Crown Project is situated directly south of Seabridge Gold’s KSM gold-copper deposits and Newcrest Gold’s Brucejack/Valley of the Kings gold mine. Electrum, also located in the Golden Triangle of BC, is situated directly between Newmont Corporation’s Brucejack Mine, approximately 20 kilometers to the north, and the past producing Silbak Premier mine, 20 kilometers to the south.
ON BEHALF OF THE BOARD OF DIRECTORS OF
GOLDSTORM METALS CORP.
"Ken Konkin"
Ken Konkin
President and Chief Executive Officer
For further information, please visit the Company's website at https://goldstormmetals.com/or contact:
Chris Curran
Head of Corporate Development and Communications
Phone: (604) 559 8092
E-Mail: chris.curran@goldstormmetals.com
or
Carsten Ringler
Head of Investor Relations and Communications
Phone: +49 151 55362000
E-Mail: carsten.ringler@goldstormmetals.com
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.
Cautionary Statement Regarding Forward Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, the statement regarding the expectation that geologists are expected to complete a compilation study this winter once all assay results are received. Such a statement is a forward-looking statement and contains forward-looking information.
Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends" or “anticipates", or variations of such words and phrases or statements that certain actions, events or results “may", “could", “should", “would" or “occur". Forward-looking statements are based on certain material assumptions and analysis made by Goldstorm and the opinions and estimates of management as of the date of this press release, including that geologists will complete a compilation study this winter once all assay results are received.
These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Goldstorm to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation that geologists will not complete a compilation study this winter or at all.
Although management of Goldstorm has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Goldstorm does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
Crown Project - Regional Area Plan Map
Crown Property - Claim Map
Orion Sample Area
Copernicus Zone Sample Results
Orion Sample Area - Mag Survey