INITIAL RESULTS FROM NEWFOUNDLAND REVEAL LARGE-SCALE GOLD AND COPPER ANOMALY AT GANDER NORTH
Sassy Resources Corporation (“Sassy” or the “Company”) (CSE: SASY) (FSE: 4E7) (OTCQB: SSYRF) is pleased to announce the discovery of a multi-kilometer-long gold and copper anomaly at the Company’s newly-named “Viking” target at Gander North adjacent to the GRUB Line in the heart of the Gander Gold District. These results, which include very high gold-in-soil assays, suggest the presence of a nearby mineralizing source.
Initial C-horizon soil geochemistry results (1,663 samples) greatly build on historic Noranda work with a coincident gold and copper-in-soil anomaly now covering the entire upper section of the Viking target over a northeast-southwest length of 4.25 km and a northwest-southeast dimension (width) of up to 1.5 km (see attached map);
Significantly, this anomaly is open for expansion to a very broad area to the southeast where assay results are pending for approximately 1,000 additional soil samples, some of which were collected by GroundTruth Exploration’s deep penetrating GT Probe;
Notably, in this southeast direction nearly 2 km from the initial grid is the historic “Jonathan’s Third Pond” Copper Showing which is described in historic assessment reports as a pervasive zone of silicification and alteration with pyrite-chalcopyrite-bornite mineralization;
Sassy prospectors have confirmed and extended the Jonathan’s Third Pond occurrence for another kilometer toward the south-southwest where it remains open for further expansion (assays pending);
Highlight C-horizon gold-in-soil results include individual samples which returned values of 1,432 ppb Au (1.43 g/t) and 1,154 ppb Au (1.15 g/t). These results are considered very high-grade for gold-in-soil in Newfoundland;
C-horizon copper-in-soil samples returned values up to 245.5 ppm Cu, also considered very significant for soils in Newfoundland;
The Viking target, which formed part of the option agreement with Vulcan Minerals (TSXV: VUL) announced February 12, 2021, covers 20.5 sq. km. This is still only 4% of the entire Gander North Project, underscoring the extent of discovery potential within this very prospective 490 sq. km land package owned 100% by Sassy;
Plans are being discussed for RAB (rotary air blast) drilling at the Viking target in preparation for a maiden diamond drilling program.
Mr. Mark Scott, Sassy President and CEO, commented: “These initial results bode very well for our upcoming Gander Gold spinout with February 1, 2022, being the share distribution date of record (refer to October 15, 2021 news release) for Sassy shareholders. Gander North is one of eight Sassy projects going into Gander Gold, collectively covering 2,257 sq. km, and we will have early exploration results to report on each of these projects thanks to an aggressive ongoing campaign funded by the Gander Gold subsidiary. Following the spinout, Sassy will own approximately 35 million shares of Gander Gold in addition to its Foremore Project in the Eskay Camp.”
Mr. Ian Fraser, P.Geo, Sassy VP-Exploration, stated: “Soil grids utilizing 100-meter spaced lines were designed to test the known northeast structural trend associated with the GRUB line and parallel-subparallel lineaments recognized within the Gander Zone. Phase 1 soil results have identified a few spectacular sample results as evidenced by 1,432 ppb Au, trends and anomalous zones occurring within a northeast orientation, but also suggest the historic gold-in-till trend identified by Noranda is significantly larger and remains open. Currently the source of this gold and copper dispersion in tills is unknown. We look forward to identifying the source. Phase 1 soil results from the Viking target are very encouraging and we look forward to reporting additional results from all programs the Company is currently undertaking in Newfoundland.”
Shawn Ryan On Viking Target And Gander North
Sassy technical advisor Shawn Ryan added, “These initial soil sampling results at Sassy’s Viking target at Gander North are comparable to initial soils from the Queensway and Kingsway projects. The results to date are clearly outlining new and very exciting multi-station gold hits that warrant follow-up work to advance them to the drill stage. This is the same strategy I used to help outline the initial anomalous trends at Labrador Gold’s Kingsway Project. I look forward to seeing more soil work done at Gander North as we have many more promising structures to cover.”
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Quality Assurance / Quality Control
Gander Gold Corporation has contracted the services of GroundTruth Exploration to conduct its soil geochemistry programs in Newfoundland. Soil samples are collected at pre-determined sites, placed in soil sample bags and all metadata associated with a sample is recorded. Once sorted and logged, samples are shipped to Eastern Analytical in Springdale Newfoundland for sample preparation. At Eastern Analytical individual samples are dried and sieved and 15g splits are prepared and then shipped by courier to Bureau Veritas Commodities Canada Ltd. (Bureau Veritas) in Vancouver British Columbia for analyses. Eastern Analytical and Bureau Veritas are ISO / IEC 17025 certified laboratories and independent of Gander Gold Corporation. At Bureau Veritas the 15g splits are partially digested by aqua regia digestion and analysed for gold plus 36 additional elements by ICP-ES/MS (method AQ201). GroundTruth Exploration crews took a field duplicate every 25th sample and these field duplicates were inserted into the sample stream to monitor the quality of analyses for the soil sampling program.
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The technical information in this news release has been reviewed and approved by Mr. Ian Fraser, P.Geo., Vice President of Exploration for Sassy Resources. Mr. Fraser is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Sassy Resources Corporation
Sassy Resources is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal and base metal projects in North America. Its focus is the Foremore Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.’s prolific Golden Triangle, and the Central Newfoundland Gold Belt where Sassy is one of the district’s largest landowners.
Caution Regarding Forward Looking Statements
Investors are cautioned that, except for statements of historical fact, certain information contained in this document includes “forward looking information”, with respect to a performance expectation for Sassy Resources Corporation. Such forward looking statements are based on current expectations, estimates and projections formulated using assumptions believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Such factors include, without limitation, fluctuations in foreign exchange markets, the price of commodities in both the cash market and futures market, changes in legislation, taxation, controls and regulation of national and local governments and political and economic developments in Canada and other countries where Sassy carries out or may carry out business in the future, the availability of future business opportunities and the ability to successfully integrate acquisitions or operational difficulties related to technical activities of mining and reclamation, the speculative nature of exploration and development of mineral deposits, including risks obtaining necessary licenses and permits, reducing the quantity or grade of reserves, adverse changes in credit ratings, and the challenge of title. The Company does not undertake an obligation to update publicly or revise forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Some of the results reported are historical and may not have been verified by the Company.
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