VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 26, 2017) – Aldershot Resources Ltd. (“Aldershot” or the “Company”) (TSX VENTURE:ALZ)(FRANKFURT:ASL1)(OTC PINK:ALZTF) is pleased to announce assay results from surface sampling completed at the Company’s Gowganda Gold Project located in the Abitibi Gold Belt southwest of Kirkland Lake, Ontario. A program of reconnaissance sampling in May and June of 2017 was undertaken to follow up on the extension of a favourable structural trend highlighted by the winter 2017 drill program along which a number of historical pits and trenches were identified. In addition, some other historical shafts and trenches on other portions of the property were also sampled.
In total, 28 locations were sampled and 61 grab samples were collected this spring with assay results returned ranging from nil to 1.0 g/t gold, nil to 13.4 g/t silver, nil to 4.68% copper and nil to 0.31% cobalt. The results highlight a trend of quartz/calcite veining hosting anomalous gold, silver, copper and cobalt mineralization occurring in younger (Proterozoic rocks) that overlie the older (Archean rocks) southeast-trending structure identified during the 2017 drill program on the Haultain Gold discovery. This structure, also known as the Jacob Lake Fault, appears to be associated with the gold mineralization along the west side of Jacob Lake. A number of other historical occurrences were also sampled with the best results being a sample from a historical occurrence referred to as the “Big Four” collected near the southern boundary of Aldershot claim 4227300 in 2010 which returned a value of 3.03% cobalt, 17.3 g/t silver and 1.83 g/t gold.
“Not only are we encouraged by the results to date it is important to note that Aldershot’s Gowganda property covers significant extensions of the favourable silver-cobalt-copper bearing stratigraphy of the historical Gowganda silver camp,” commented Jeremy Caddy, President and CEO of Aldershot.
Plans Moving Forward:
The results of the winter 2017 drill program confirmed the presence of a significant gold system that appears to be improving at depth as evidenced by increasing gold grade thickness trends and apparent IP resistivity at depth in proximity to the Annie’s Ladder zone (please refer to Aldershot news releases dated February 28, 2017 and April 5, 2017). To follow these trends and to test identified targets at depth, a 2,500 metre drill program has been proposed.
In addition, regional prospecting, trenching and mapping work is planned along the trend of the Jacob Lake Fault in both Archean and Proterozoic host rocks to follow up on elevated gold, copper, silver and cobalt values highlighted by the recent sampling. In particular, additional work is planned in the area of the Jacob Lake gold showing.
About the Gowganda Gold Project
The project consists of mining claims totaling approximately 3,520 hectares centrally located about Hwy 560 adjacent to the unorganized municipality of Gowganda, Ontario in Nicol, Haultain, Milner, and Van Hise townships, Larder Lake Mining Division. The project is focused on Archean greenstone overlain by Proterozoic sediments of the Cobalt Embayment located south of the Round-Lake Batholith in the south-western part of the prolific Abitibi greenstone belt. A short animated video that introduced Aldershot and the Haultain project may be viewed at: http://iresourcemedia.com/companies/aldershot/
The technical elements of this press release have been approved by Mr. Greg Collins, P.Geo. (APGO), Chief Operating Officer for Transition Metals Corp., and a Qualified Person under National Instrument 43-101. All analytical work performed on the rock samples was conducted at ALS-Chemex with sample preparation completed in Sudbury, Ontario and analyses completed in North Vancouver, B.C. The quality system used by ALS-Chemex complies with international standards ISO 9001:2000 and ISO 17025:2005.
Aldershot has 49,700,000 shares issued and outstanding and is engaged in the acquisition and exploration of gold properties. The Company has signed an option and joint venture agreement with Transition Metals for the Gowganda Gold Project as highlighted above. The mission of Aldershot is to find and develop a gold prospect to create wealth for shareholders. This is being achieved by identifying quality gold properties and exploring those that have the highest potential for future discoveries, sale or development of existing mineral resources into mineable reserves. On a regular basis management will rationalize all of its core mineral property holdings to maintain percentage ownership by funding the exploration work. Management will sell its properties when it feels value for shareholders has been created and management is able to obtain fair value for the assets.
The Company is a publicly listed corporation whose shares are traded on the TSX Venture Exchange under the symbol ALZ.
FOR AND ON BEHALF OF THE BOARD
President, CEO and Director
This press release may contain forward-looking statements about certain of the Company’s current exploration plans, goals and expectations. Statements containing the words: ‘believes’, ‘intends’, ‘expects’, ‘plans’, ‘seeks’ and ‘anticipates’ and any other words of similar meaning are forward-looking. All forward-looking statements involve risk and uncertainty because they relate to future events and circumstances beyond the Company’s control. As a result, the Company’s actual financial condition, performance and results may differ materially from the plans, goals and expectations set out in the forward-looking statements. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company’s disclosure documents on the SEDAR website at www.sedar.com.
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.
President, CEO and Director