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New Nadina Explorations Ltd (2)
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New Nadina drills 145 m of 8 g/t Ag at Silver Queen

2017-12-29 20:55 ET - News Release

Ms. Ellen Clements reports


New Nadina Explorations Ltd. has provided assay results on drill holes 17S-01 and 17S-02, with 17S-03 to follow as soon as available. Figures showing drill hole information will be posted on the company's website.

The standards had copper reported by method UT2 (aqua regia partial extractions) in the 0.8-per-cent to 1.2-per-cent range, and, therefore, 33 samples, including the three standards, were reassayed using 0.5-gram aqua regia digestion/ICP-OES, which caused significant delay of the results. All silver (Ag) results reported for 17S-01 have been by 0.5 g aqua regia digestion with ICP-MS or ICP-OES finish and if Ag is greater than 30 to 100 parts per million, then a 30 g fire assay (FA) with gravimetric finish has been accomplished. Reassaying three samples for gold using a larger sample size (30 g for fire assay) was conducted in order to assure compliance with regulations. Assaying 17S-02 samples with four-acid digestions caused no problems, and reassaying data for hole 17S-03 are still pending.

The 2017 drill program was conducted during October and November with all three holes from the same drill pad for a total of 2,158.5 metres (see the company's website). Drilling planned to test the high conductive body inside the caldera and its apophysis further to the east, as well as test the high silver intercepts reported in 12S-05 (see news release dated Dec. 23, 2015) and a cylindrical-type feature of chargeability high and resistivity low beyond the veins (see NR dated June 20, 2017). The property is showing both silver-gold-copper-lead-zinc veins and copper-molybdenum plus or minus gold porphyry, respectively. Reconnaissance geological work has shown that the Silver Queen Ag-Au-Cu-Pb-Zn vein system is located within a three-kilometre-wide caldera, which formed during repetitive explosive eruptions producing pyroclastic volcanics (tuffs).

Drill hole 17S-01 targeted a deep-seated conductive geophysical anomaly, with hole 17S-03 targeting an apophysis of this anomaly extending to the southeast of the main body, both identified in a 2012 Quantec Geoscience deep induced polarization survey (see NR dated May 24, 2017, and June 20, 2017). The larger, high conductive anomaly in blue colour in the map on the company's website has been named the Blue zone. The apparent ring structure of the ancient volcano appears to play an important role in the development of the Itsit porphyry system adjacent to the south, likely by providing heat and metal-bearing fluids. The target for hole 17S-02 is a cylindrical chargeability feature, coincident resistivity low, in the north Itsit porphyry, which has been touched by hole 12S-05 in 2012, showing two high-grade sections, formally interpreted as the NG3 extension and sister vein (see NR dated Dec. 23, 2015).

Drill hole 17S-01 (azimuth 300, dip minus 59 degrees, drilled to a length of 816 m) intersected the conductive geophysical anomaly in the southern part of the caldera. The structure of the mineralization is an intense stockwork veining grid with subvertical, sulphide, low-silica veins ranging from less than a millimetre to 1.5 centimetres. Some 1.5 cm veins show a 10 cm spacing. The drill hole assays have shown that the main body of the target stockwork mineralization consists of pyrite, arsenopyrite, sphalerite and possibly fine-grained tennantite-tetrahedrite, manganese oxides plus or minus galena and cobaltite. Also, within the target there are value-carrying sections with up to 1.5 cm veins containing sulphides, visually identified and supported by assay results as bornite, sphalerite, galena, pyrargyrite and tennantite-tetrahedrite. Rhodochrosite has been identified as an indicator mineral as well. However, the majority of the non-carrying sections dilute the values of the higher-grade section, which can be seen on the summary.

The numbers in the associated table are related to an upper Blue zone.

From - to (m)   Interval (m) Ag g/t  Au g/t  Cu %

423.47 to 423.67        0.2    91.3    0.06  0.65
433.3 to 433.7          0.4     120    1.29  1.41

From 663.35 m to 809.35 m (145.98 m total including 13 m of barren dikes), the average metal values are 8.0 g/t Ag, 0.10 g/t Au and 0.06 per cent Cu.

Included in the above are the sections in the associated table.

From - to (m)   Interval (m)  Ag g/t  Au g/t  Cu %

663.35 to 666          2.65     34.1    0.26
690 to 693                3      120    0.24   0.5
791 to 793                2     47.3    0.71  0.72
807 to 809.33          2.33     21.4    0.86

In addition, short intervals have been recognized at shallower levels.

From - to (m)    Interval (m)  Ag g/t  Au g/t  Cu %

176.55 to 177.22        0.67      305   12.73  0.21
207.42 to 207.76        0.34      709    0.36  2.84

Drill hole 17S-02 (azimuth 165, dip minus 61 degrees, drilled to a length of 667.51 m) tested the northwest portion of the Itsit copper-molybdenum-gold porphyry, and targeted both the high-grade silver veins intercepted in drill hole 12S-05 (see NR dated Dec. 23, 2015, and June 30, 2017) and the high-chargeability, low-resistivity anomaly, respectively. Results show that this target is a cylindrical sericite core of the Cu-Mo-Au porphyry with an average grade of 0.27 per cent copper and of 0.055 per cent molybdenum, which is rimmed by multiple layers of Zn-Ag sulphides on both sides, each up to three m, down to a depth of 660 m. Note: the reported widths for the cylindrical core and the multiple layers are not true widths.

Drill hole 17S-02, within the Itsit Cu-Mo-Au porphyry, averages from 515.15 m to 667.51 m (142.06 m) of 0.27 per cent Cu and 0.055 per cent Mo, and contains Ag-Zn plus or minus Au rims.

Additional multiple, layered, polymetallic rims of the cylindrical shape of the sericitic porphyry core have been recognized on both sides and, according to the inclination of the hole, at different depths.

At the top, related to the NG3 extension (see NR dated Dec. 23, 2015), are the values shown in the associated table.

From - to (m)  Interval (m)  Ag g/t   Zn %

453 to 454               1       14   1.24
518 to 521               3       94   0.85

At the bottom, not related to a vein, are the values shown in the associated table.

From - to (m)  Interval (m)  Ag g/t  Au g/t   Zn %

615 to 618               3     12.4    0.13   0.32
621 to 624               3     14.3    0.12   0.24
630 to 633               3     36.9    0.19   6.77
642 to 645               3     25.2    0.13   0.19
659 to 661               3     24.1    0.10   3.97

Drill hole 17S-03 (azimuth 146.6, dip minus 87.5 degrees, to depth of 675 m) was from the same set-up and will be reported as soon as completed analyses are available.

Discussions for spring drilling 2018

Plans for the spring drill program are being reviewed, where the Blue zone will be tested from the north from two holes planned from each of the two drill pads on Crown land, and drilling south and southwest, respectively. In addition, it will include follow-up to drill test the 12S-05 intercept at depth (see NR dated Dec. 23, 2015) and, if possible, drilling two holes from the southwest from private land at about 90 degrees to 12S-05.

Dr. Mathias Westphal, PGeo, a qualified person as defined under National Instrument 43-101, has provided, reviewed and approves the technical content of this release.

Silver Queen property, central British Columbia (100 per cent)

The company owns a 100-per-cent interest in 17 Crown-granted (includes two surface-title-owned Crown grants of 40.47 hectares) and 45 tenure claims covering 18,852 hectares in the Omineca mining division, near Owen Lake, B.C. The Silver Queen property is located at 43 kilometres on the all-weather Morice/Owen forest service road that originates in Houston, B.C., continuing 125 kilometres south to the Huckleberry mine. There is a 10-person camp and core shed facilities established on the property.

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