VANCOUVER, British Columbia, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Clarity Metals Corp. (“Clarity” or the “Company”) (CSE: CMET, OTC: CLGCF, FSE: 27G0) is pleased to announce that it has received preliminary results from an airborne Triaxial Magnetometer survey flown over the Company’s Fecteau Gold Project located in the prolific Abitibi Greenstone belt of Quebec (the “Project”).
James Rogers CEO of Clarity comments: “The Company is pleased with the exploration developments we are making on this exciting gold project located adjacent to Osisko’s Windfall project.”
Clarity will utilize the data from this survey to interpret lithology and geological structures which are known in the Abitibi to have a control on gold mineralization. This data will be combined with results from the other winter exploration efforts including a diamond drilling program and a comprehensive remote sensing program to advance our knowledge of the area further prioritizing current targets as well as generate new targets.
The preliminary results of Reduced-to-Pole Total Magnetic Intensity (“RTP-TMI”) are illustrated in Figure 1 along with the exploration targets on the property which were generated by previous operators by means of gold in grain till sampling and targeted IP surveys. The property is known to host two types of mineralization: VMS (Cu-Zn-Au) and mesothermal gold.
VMS targets are represented in the field by numerous gossans of semi-massive to massive sulphides located along and near an east-west trending rhyolite-dacite contact observed over 10 km of strike. Past drilling near surface intersected anomalous copper-zinc intervals associated with anomalous gold. Mesothermal gold bearing quartz veins are observed at both ends of the property (western and eastern portions) where the volcanic sequence is folded. East-west striking meter-scale shear veins developed parallel to the axial plane of the folds.
This helicopter-borne survey was conducted by Axiom Exploration Group Ltd. (“Axiom”) with a specially designed GEM Systems GSMP 35A Airborne Potassium Vapor high-resolution magnetometers mounted on a non-magnetic stinger in a triaxial array. The surveyed comprised 768 line km using 75 m line spacing providing a markedly higher-resolution map than the 2008 survey for locating any structural or lithological breaks.
Figure 1 Fecteau Property preliminary results showing RTP-TMI from recently completed airborne Triaxial Magnetometer survey.
Figure 2 Location of Fecteau Gold Project showing nearby projects.
Mr. Rory Kutluoglu P. Geo., a member of the advisory board and a consultant of the Company, is a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the technical information in this news release.
Clarity Metals Corp. is a Canadian mineral exploration project generator company focused on the acquisition, exploration and development of precious and base metals projects. Clarity’s exploration mandate is global and focused on countries with established legal and regulatory systems supporting mining investment. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the symbol “CMET”.
Clarity recently entered into an option agreement to acquire 50% of the Lithium381 Project adjacent to Allkem Limited’s (“Allkem”) James Bay Lithium feasibility stage project. See Clarity news release dated December 7, 2022.
The Company was also recently assigned an option to acquire 100% of the Fecteau project located in the prolific Abitibi gold belt adjacent to Osisko Mining’s Windfall project. See Clarity news release dated November 22, 2022.
Additionally, Clarity has title on several early-stage projects in British Columbia and Newfoundland:
- Empirical Gold Copper Molybdenite Property (10,518 ha) – Lillooet, B.C.
- Tyber Gold Copper Silver Property (928 ha) – Southeast Vancouver Island, B.C.
- Gretna Green Gold Copper Silver Property (1,331 ha) - Port Alberni, Vancouver Island, B.C.
- Harp Lake Nickel Property (3,452 ha) – Labrador, NL
- Eddies Cove MVT Property (450 ha) –NW Newfoundland
- Hare Bay Nickel Property (750 ha) –NW Newfoundland
To learn more about Clarity Metals Corp. and its projects please visit www.claritygoldcorp.com.
ON BEHALF OF THE BOARD
Chief Executive Officer
Tel: 1 (833) 387-7436
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements regarding: the drilling program on the Property; The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements including: that Company may not complete the drilling program on the Property as proposed; that the Company may not be able to make the incur the expenditures on the Property; and other factors beyond the control of the parties. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include general market conditions and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Photos accompanying this announcement are available at: