Vancouver, B.C. October 12, 2017 – Four Nines Gold Inc. (the “Company” or “Four Nines”) (FNAU:CSE) is pleased to announce that it has completed the Phase 1 exploration program on the Mariposa property, located in the White Gold District of the Yukon.
The field work included mechanized excavation of 16 trenches totaling in 3 main target areas: Skookum Main, Skookum West and Hackly. A total of 583.5 lineal metres of saw-cut channel samples were taken, resulting in 375 samples. A number of access trails were also established in the area and road improvements completed on the property that will facilitate future work, reducing or eliminating the need of future helicopter support. The gold bearing, structurally controlled targets remain open in all directions, and Four Nines has refined the overall geological setting in planning for a Q2 2018 drill program.
This season’s work, budgeted at $250,000, was based on recommendations outlined in a 43-101 technical report and in the prospectus for the recently completed initial public offering that closed on August 24. All the rock channel samples, were logged, photographed and have now been delivered to Actlabs at their Kamloops facility for analysis and will be reported on once compiled.
About the Mariposa Property, Yukon
The Mariposa property is located approximately 44 km northeast of the Coffee mine development project (owned by Goldcorp Inc.) and is 120 km southeast of Dawson City. Mariposa consists of 1,311 contiguous claims covering 27,000 hectares (270 sq. km) and lies within the White Gold district. The deposit type for mineralization at the Mariposa property is the orogenic vein type, typical of gold mineralization occurring within the White Gold district.
Four Nines has an option to acquire a 70% interest in the property from Pacific Ridge Exploration Ltd. The Mariposa property hosts a number of gold targets, including Skookum Main, Skookum West, Maisy May, Gertie, Big Alex, and Lou Linear. A total of 43 diamond drill holes in 2010 and 2011 focused largely on Skookum Main and Skookum West with best results of 1.51 g/t Au over 81.5 m, including 2.44 g/t Au over 39 m; this hole was, in part drilled down dip on what is now believed to be a north-easterly controlling structure.
A trenching program, conducted by Four Nines in 2016, at the Skookum West and Hackly target areas intercepted 55 m grading 0.42 g/t Au at Hackly and 20 m grading 0.6 g/t Au, including 5 m grading 1.64 g/t Au, at Skookum West.
Jim Mustard, President and CEO of Four Nines stated, “The Mariposa project has several gold targets, but the focus of previous drilling was largely confined to only two of them. While subsequent studies have better defined the controls on mineralization, follow on field exploration work over the past several years was limited due to funding constraints. We now have the benefit of a number of those studies that provide a clearer guide to discovery. As well, a significant improvement in access is anticipated once the Coffee Gold Mine development road is completed – this access road, as currently planned, will pass within an estimated 15 km of the property’s western boundary”.
The scientific and technical disclosure contained in this news release has been reviewed and approved by the Company’s President and CEO, Jim Mustard, P.Eng., a “Qualified Person” as that term is defined in National Instrument 43-101—Standards of Disclosure for Mineral Projects.
About Four Nines Gold Inc.
Four Nines is a mineral exploration company with a focus on the exploration and development of the Mariposa gold project, located in the White Gold district of the Yukon Territory. The Company cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Mariposa property.
On behalf of the board,
J. W. Mustard
President & CEO
For further information, please contact:
J.W. Mustard, President at firstname.lastname@example.org; phone 604.418.9543 or
Casey Forward at email@example.com; phone 778.688.1799
Cautionary Statement Regarding “Forward-Looking” Information.
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, statements that address the Mariposa property, comments regarding the timing and content of upcoming work programs, geological interpretations, costs and timing of future exploration and development, requirements for additional capital, other statements relating to the financial and business prospects of the Company. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements. Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
Four Nines Gold Inc.
488 – 625 Howe Street
Vancouver BC V6C 2T6