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Project One Resources Ltd
Symbol PJO
Shares Issued 9,840,777
Close 2019-08-30 C$ 0.19
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Project One identifies second target area at Aura

2019-09-18 09:30 ET - News Release

Mr. Ron Shenton reports


Project One Resources Ltd.'s stage 1 field program at its wholly owned Aura project, located approximately 150 kilometres east of Vancouver, near the Spences Bridge gold belt, has confirmed its initial anomalies with positive results from soil sampling.

The program was designed to follow up on the encouraging results of a 2018 aeromagnetic survey completed on the property, which results are detailed in the company's technical report dated July 15, 2018. A compilation of the historic 3-D induced polarization geophysical survey and the recent aeromagnetic survey indicated that there is an anomaly coincident with the Noranda showing -- a mineralized quartz breccia zone discovered by Noranda in 1988 (see news release dated June 24, 2019).

A total of 420 soil samples were collected over three new grids that overlay the three priority geophysics targets that are located in the central portion of the property. Sample lines were separated by 50 metres, with samples being taken every 25 metres on each line. Two of the grids returned anomalous gold values in excess of 15 parts per billion.

The most significant anomaly was identified in the southern of the three target areas and consists of an east-west-trending response that was traced for 300 metres, with gold values ranging from 15 to 66 parts per billion, and is open to both the east and west. This new target lies approximately one kilometre north of the Noranda showing (see news release dated June 24, 2019).

The target area is heavily forested and will require prospecting and geological mapping, as neither of those have been performed through these new target areas. Extension of the soil grids would also be important in determining the potential extent of the mineralization.

The soil samples from the 2019 field program were packaged in sealed plastic bags and transported to the ALS Global assay facility in North Vancouver, where they were analyzed by standard fire assay (AuAA23) and multielement trace metal analysis (ME-ICP 41).

The scientific and technical information contained in this news release has been reviewed and approved by Carl Von Einsiedel, PGeo, a qualified person as per National Instrument 43-101 and an independent consultant to the company.

About Project One Resources Ltd.

Project One's wholly owned initial project, the Aura property, is made up of 2,706 hectares of contiguous claims and located approximately 150 kilometres east of Vancouver, B.C. It is close to two recently operated mines and several high-profile exploration properties.

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