Aldever Resources Inc. (ALD—TSXV) (ALDVF—OTCQB) (“Aldever” or the “Company”) is pleased to announce that it has commenced an IP (induced Polarization) ground survey at its Urban Barry Gold Project in the heart of the Urban Barry Mining Camp, central Quebec.
The survey is to consist of a total of up to 25km of survey lines on the UB Deformation Zone, where anomalous mineral values (up to 0.127g/ ton gold) were obtained in the 2016 programs. The UB Deformation Zone is located at the confluence of the two regional breaks in the Abitibi Greenstone rock, the primary controls of mineralization at Osisko Mining’s Lac Windfall Deposit and Bonterra Resources’ Gladiator Deposit. The purpose of the IP survey is to rarefy drilling targets for the Phase 2 program, which calls for up to 6000 meters of diamond drilling, comprised of (20) twenty, (300m) three hundred meter holes.
Background
Aldever controls 1,297ha in the Urban Barry Mining district, Quebec, approximately 18 kilometers east of, and within the same geological district as, Oban Mining’s Windfall Lake Deposit, which has an estimated mineral resource*of 748,000 ounces of gold at 8.42 g/t gold in the indicated category, and 860,000 ounces of gold at 7.62 g/t gold in the inferred category.
* Source: Oban Mining Corporation website - SRK (Canada) November 2014 Technical Report. These estimates of gold resources are sourced from publicly available materials and are not located on the Urban Barry Property. Aldever has not undertaken any independent investigation of the production/resource estimates, nor has it independently analyzed the publicly available results.
The Company’s Urban Barry Property (UB) is situated within the Urban-Barry Greenstone Belt and lies within the eastern portion of the Abitibi Subprovince which has an east-west extent of approximately 135 kilometers and ranges from 4 to 20 kilometers in width along its strike extent. Lithological units within this terrane include sequences of basalt flows with intercalated felsic rhyolities to more mafic volcaniclastic rocks that have been deformed and metamorphosed to the greenschist facies. The volcaniclastic sequence has been intruded by syn-volcanic to late (post mineralization) intrusions. Dominant structural fabrics trend to the northeast, with variable dips between 30 to 85° to the southeast. The principal exploration target at the UB Project is a seven-kilometer strike length of regional scale faulting of the Abitibi Greenstone Belt which lies within the UB Property bounds.
The technical contents of this news release have been reviewed by Abby Peterson, P. Geo. Ms. Peterson is registered in the Province of Quebec, is a Qualified Person as defined by NI 43-101 and has approved this news release.
For further information,
please contact:
Clive Massey, President
Aldever Resources Inc.,
Phone: (604) 644-6794
or (604) 622-1199
Neither 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 information" that is based on Aldever’s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Aldever’s exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Aldever’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Aldever disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise