Toronto, June 24, 2022 – Warrior Gold Inc. (TSX-V - WAR) (“Warrior Gold” or the “Company”) is pleased to announce the completion of the high-resolution airborne magnetic and LiDAR survey recently undertaken at its Kirkland Lake Gold Camp properties. Data compilation and processing of the survey data is currently underway.
The large regional, roughly 3,400 line-kilometre triaxial magnetic, VLF and LiDAR survey across the KLW and KLC/Arnold project areas was completed in a timely and efficient manner by GoldSpot Discoveries Corp.’s (“GoldSpot”) Geophysical Services division from May 25 to June 14, 2022. The survey parameters included a flightline azimuth of 0º/180º and flight-line spacing of 50 m. Tie lines at 500-m spacing had an azimuth of 090º/270º.
This high-resolution survey utilized GoldSpot’s newly developed M-PASS system, a proprietary platform that has been designed to collect the magnetic and VLF datasets, LiDAR and orthophotos - simultaneously.
Goldspot CEO Vincent Dubé-Bourgeois commented, “We are very happy to have completed this large and detailed survey for Warrior Gold. Now that this milestone is complete, these newly acquired datasets will help to unlock the value of the promising KLW, KLC and Arnold projects. We look forward how this data will guide the upcoming exploration plans of Warrior Gold.”
The data sets collected by this survey are currently being processed and results are anticipated in early July. Once received, Warrior will undertake a combined geophysical and structural interpretation of the data and combine this with the compilation of the geology and known mineral showings of the KLW and KLC/Arnold land packages, all of which will guide future exploration plans, including a follow-up field program.
“We are excited to receive the results and interpretation of this airborne survey which will provide the foundation to our geological and structural understanding of this most recently acquired portion of our land package. As geoscientists we all know, structure is key to the orogenic gold deposit model not only in the Kirkland Lake gold camp, but throughout the metal-endowed Abitibi greenstone belt. The airborne survey data will be married with known historical mineralized showings and follow-up work will include the ground-truthing of geophysical interpreted structures and known mineralized trends. All of this work and the exploration drilling on our Goodfish Kirana project continue to advance our efforts towards making a discovery in the gold rich Kirkland Lake camp,” stated Danièle Spethmann, CEO of Warrior Gold.
The Company also reports that recently filed assessment work report on the 2021 diamond drilling programs was approved by the Ontario Ministry of Mining Lands Administration (MLAS) and has extended the current Goodfish-Kirana and KLW land packages’ good standing from 2030 to roughly 2032.
Danièle Spethmann, P.Geo. is President and CEO and a Director of Warrior Gold and is a Qualified Person as defined by NI 43-101. Ms. Spethmann has reviewed the technical information in this news release and approves the written disclosure contained herein.
About Warrior Gold Inc.
Warrior Gold is a TSX Venture Exchange-listed company that has consolidated a significant and prospective land package in the Kirkland Lake Gold Camp in Ontario, Canada. The properties are hosted in the Abitibi Greenstone Belt, one of the world’s best-endowed greenstone belts with +200 million ounces of gold produced to date. The properties are host to regional and property-scale mineralized structures that are considered to be second order structures off the Larder Lake Cadillac Deformation Zone – LLCDZ – the regional structure in the belt known to be spatially associated with the gold mines hosted in the camp.
The properties assembled include: the 100%-owned Goodfish-Kirana, the Arnold property and the recently optioned KL West (KLW) and KL Central (KLC). Warrior Gold’s land position in the Kirkland Lake Gold Camp comprises approximately 21,469 ha, over 480 claims and 29 patented claims and ranks the company as one of the largest landholders in the Kirkland Lake region.
For additional information please contact:
Danièle Spethmann, P.Geo.
President & CEO
+1 647 344-3433
Neither the 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.
This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", “anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Company. Although Warrior Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Warrior Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Company’s Management Discussion and Analysis of the financial condition and results of operations for the year ended March 31, 2021 and the third quarter ended December 31, 2021 which are available at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Warrior Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.