Mr. Gregory Lytle reports
GOLD FINDER COMMENCES FIELDWORK AT PIPESTONE BAY PROPERTY IN ONTARIO'S RED LAKE GOLD DISTRICT
Fieldwork is under way at Gold Finder Resources Ltd.'s 100-per-cent-owned Pipestone Bay property located approximately 32 kilometres west of the town of Red Lake.
Emerald Geological Services conducted a review of all historical exploration on the property to determine areas where untested targets warrant further exploration.
Significant historical work has been conducted in two areas of the property: the 991 zone (also known as the NW Pipestone Bay occurrence) in the eastern part of the property, and the western part of the property where there are two known gold occurrences (McIntosh Lake iron formation and Stupak-Dynes group occurrences).
The 991 zone
Previous work has shown that there are at least two styles of gold mineralization at the 991 zone:
- High-grade (up to 44.9 grams per tonne gold) hosted in roughly north-south-striking quartz veins;
- Low-grade (in the low hundreds of parts per billion) hosted in altered felsic volcanics which strike roughly east-west and dip north, with a copper association (including 0.23 per cent copper over 5.5 metres in drilling).
To date, only the low-grade gold mineralization has been tested by north-south drilling, which would not have adequately tested the north-south high-grade veins. The mineralized felsic unit hosting the veins remains open to the west-northwest and east-southeast beneath the lake, and induced polarization suggests that mineralization may continue in either direction.
There is also potential for nickel and chromium mineralization in the ultramafic unit to the north, as indicated by 2019 grab samples, which returned 0.21 per cent nickel and 0.21 per cent chromium.
Pipestone West area
This area hosts both gold and copper mineralization. Anomalous gold (up to 730 ppb) has been discovered in banded iron formation, altered mafic volcanics and quartz veins, with copper grades up to 3.25 per cent also obtained in altered mafic volcanics.
The 2020 airborne magnetic survey suggests that the banded iron formations are strongly folded, with the most prospective area to date being the southwest limb of the fold close to a mafic/intermediate volcanic-felsic volcanic contact. Folded banded iron formations are excellent targets for gold exploration as they represent structural and chemical traps for gold-bearing fluids.
The mafic-felsic volcanic contact may also be an important conduit for gold-bearing fluids. From past records, anomalous gold mineralization has been obtained over a trend of approximately one kilometre near this contact.
"The Pipestone Bay property shares many features common to gold deposits in the Red Lake greenstone belt, including silicification, sericite, biotite and chlorite alteration, visible gold in quartz veins, D2 folding, and crustal-scale structures," said Greg Lytle, president of Gold Finder. "The 2025 fieldwork will consist of prospecting and preliminary mapping of the Pipestone West area, focusing on geological contact zones and folded iron formation."
Coleman Robertson, PGeo, a qualified person as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the company.
About Gold Finder Resources Ltd.
Gold Finder is a mineral exploration company focused on discovery-stage properties. Its goal is to add value by defining or redefining the exploration opportunity, maintain ownership control during the value creation phase of discovery, and then source a well-financed partner capable of accelerating discovery, resource definition and development.
We seek Safe Harbor.
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