20:35:31 EDT Thu 09 May 2024
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Earthwise Minerals Corp
Symbol WISE
Shares Issued 11,054,383
Close 2023-10-31 C$ 0.04
Market Cap C$ 442,175
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Earthwise details exploration plans at Wilson

2023-11-01 13:12 ET - News Release

Mr. Patrick Morris reports

EARTHWISE MINERALS UNVEILS GOLD EXPLORATION PLANS FOR THE WILSON PROPERTY

Earthwise Minerals Corp. has released its comprehensive exploration strategy for the Wilson gold property in Verneuil township, Quebec. This initiative comes at a time of robust growth in the gold market and Earthwise believes it is poised to make significant advancements.

The Wilson property, encompassing 42 contiguous mining claims spread across approximately 1,660 hectares, is located just 175 kilometres northeast of the city of Val d'Or, a key mining and service centre in Northwestern Quebec. Year-round accessibility to the property via a network of gravel roads ensures uninterrupted access.

Patrick Morris, chief executive officer, stated: "We are thrilled to embark on the next chapter of Wilson's development as we enter this robust gold market. Between the mid-1990s and mid-2010s, drilling on 113 holes covering over 20,000 metres expanded the Wilson project to seven gold showings. And, most recently, an approximately 8,500-metre campaign further defining the deposit was completed in 2021 and 2022. Our focus now is to expand further on defining a significant resource, discovering the full potential of the Wilson property and becoming contenders in the area."

The focal point of the Wilson gold project is the Toussaint showing. This area contains the most significant gold mineralization in the region. The various drilling campaigns that were completed in the past made it possible to determine that the Toussaint showing is a roughly oval-shaped mineralized body containing calculated inferred geological reserves of 187,706 tonnes at 7.1 grams per tonne (g/t) gold. This mineralization is in a shear zone with an average thickness of five metres to six metres. The shear zone strikes northeast-southwest and dips steeply to the northwest; the zone is well exposed, and it has been followed for at least 250 metres.

Earthwise is undertaking a comprehensive three-phase work program. The first phase involves compiling historical results and obtaining drilling permits. The second phase comprises a surface work program, while the third phase entails a proposed 4,000-metre diamond drill program.

To enhance exploration precision, Earthwise plans to commission a 3-D compilation, providing a spatial perspective on historical results and geophysical data. Rock sample analysis and drill hole logs will be integrated into this 3-D model, facilitating characterization of mineralized zones. Additionally, soil and till sampling, combined with geophysical data, will identify additional drilling targets.

The upcoming drilling campaign aims to extend the existing mineralized gold system, to add information for a National Instrument 43-101 report, intercept the gold system at greater depth, explore new geophysical IP (induced polarization) targets and test the high-grade intercepts.

Qualified person

The technical information in this news release has been reviewed and approved by George Yordanov, PGeo. Mr. Yordanov is a qualified person under NI 43-101, and a director and the vice-president of exploration for Earthwise Minerals.

About Earthwise Minerals Corp.

Earthwise is a Canadian gold exploration company focused on its Wilson gold project that is situated in one of the world's most-prolific gold belts, the Abitibi greenstone belt in Quebec. The Wilson property is in the Verneuil township of Quebec, approximately 15 km east of the town of Lebel-sur-Quevillon. The Wilson property is about 175 kilometres northeast of the city of Val d'Or, a major mining and service centre in Northwestern Quebec. Access to the property is provided year-round by a network of gravel roads. Wilson consists of 42 contiguous mining claims totalling approximately 1,660 hectares.

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