McDonough East property location in the Red Lake Gold Camp.
Preliminary total magnetic intensity and structural features for the McDonough East Property.
Not for distribution to U.S. Newswire Services or for dissemination in the United States.
VANCOUVER, British Columbia, Sept. 02, 2020 (GLOBE NEWSWIRE) — Gold Plus Mining Inc. (“Gold Plus” or the “Company”) (CSE:GPMI) is pleased to announce that it has completed a high resolution heli-borne magnetic survey of the 100% owned McDonough East Property (the “Property”) located 16km northwest of Red Lake, Ontario and conducted by Prospectair Geosurveys Inc. (see Figure 1). The high resolution heli-borne magnetic survey was flown over the totality of the property covering 1,535 ha. (3,793 acres) at 50m line spacings.
Figure 1. McDonough East property location in the Red Lake Gold Camp is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c026972e-668f-4268-9dbf-86c2bf3179b3.
Airborne magnetic surveys are used in the exploration industry to outline different lithologies and map prospective structural zones in areas of limited bedrock exposure. Although preliminary in nature, total magnetic intensity of the Property has outlined possible folded lithology, intrusive bodies and faults or deformation zones (see Figure 2). Structural features are a key ingredient to Archean orogenic gold deposits in the Red Lake Gold Camp. Final products of the airborne magnetic survey will be available by the end of September.
Figure 2. Preliminary total magnetic intensity and structural features for the McDonough East Property is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cf25acef-ce38-45e5-bd44-c7048820237d.
Although preliminary, the airborne magnetic survey has outlined areas of high merit warranting additional exploration. Ground-truthing these areas through a program of mapping, prospecting and sampling will aid in integrating possible mineralization with structural features. Results of the mapping and sampling program will be instrumental in completing a full 2D compilation, re-interpretation of the geology and a structural interpretation by an experienced structural geologist. Completing the above programs will aid in the prioritization of areas for possible ground geophysics and subsequent drill targets.
President and CEO Spencer Smyl states, “The initial results of the airborne survey are encouraging and point to multiple areas of interest that warrant further exploration. We look forward to utilizing the final interpretation of the high resolution airborne survey data to define and prioritize targets for upcoming exploration programs. The McDonough East Property is one of three prospective properties that Gold Plus now has in some of the most prolific mining camps in Canada: the Golden Triangle in British Columbia, the Red Lake Gold Camp in northwest Ontario and the Abitibi region of Quebec.”
Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company.
About Gold Plus Mining Inc.
Gold Plus Mining is a publicly traded exploration company focused on the development of highly prospective, discovery-stage mineral properties located in some of Canada’s top mining jurisdictions. Our growing portfolio of mineral properties exhibit favorable geological characteristics in underexplored areas within the prolific “Golden Triangle” of British Columbia, the Mineral Rich “Red Lake” mining camp of Northwestern Ontario and the “Chapais-Chibougamau” mining camp, the second largest mining camp in Quebec, Canada.
ON BEHALF OF THE BOARD
CEO & Director
For more information on Gold Plus Mining, please contact
Mr. Spencer Smyl – CEO & Director
Corporate e-mail: firstname.lastname@example.org
Corporate Address: 303 – 570 Granville Street, Vancouver, BC, V6C 2P1
Neither Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.