JIULIAN RESOURCES INC. (TSX-V: JLR) (“Jiulian” or the “Company“) “) is pleased to announce that it has mobilized a Reverse Circulation (RC) drill rig to the Pedra Branca property. located within the prospective gold portion of the emerging Troia Greenstone Belt in Ceara, Northeast Brazil.
Drilling is expected to commence on Friday, October 23rd. Drilling will focus on confirmation of known mineralized zones and the extensions on trend zones of gold mineralization intercepted by trenches from five prospective targets that have previously been identified: Mirador, Queimadas e Coelhos, Igrejinha and Mir-Coelhos, covering 12.5km of trend (30% of total 42km trend).
- Field work is currently ongoing at Pedra Branca with trenching, channel sampling and prospecting in full swing. Nine trenches have been completed and sampled to date with assays pending.
- Currently the Company has planned 74 exploratory drill holes for approximately 4,500 meters of RC drilling at Mirador, Queimadas e Coelhos, Igrejinha and Mir-Coelhos which has previous work donedrill-core samples and mineralization extension along the prospective trend (figure 6);
- In addition, 8 drill holes have been planned for approximately 500 meters to twin historic drill holes which will be used to prepare a maiden 43-101 resource estimate. The Company is completing an inventory of historical drill core for selecting the twin holes to be drilled.
DRILLING AT KEY TARGETS
The RC drilling at Mirador, Queimadas, Coelhos, Igrejinha and Mir-Coelho (Figure 1) has the objective to better understand the geology, structure and controls on the known mineralized zones and their extension along the trend zones in order to support further exploration programs, following the Orogenic Gold Mineralization Model that is often continuous in significant depths in these systems.
The gold mineralization in characterized at Coelhos and Queimada, Igrejinha and Mir-Coelho targets by the subparallel intra-foliated millimetric/centimetric strings of sulfides in amphibole shale with magnetite and fine quartz-feldspar rock, subordinately by hydrothermal silicification zones and pyrite >> pyrrhotite sulphides.
At the Mirador target the gold mineralization occurs by the association of hydrothermal silicification zones and pyrite >> pyrrhotite sulphides and subordinately subparallel intra-foliated millimetric/centimetric strings of sulfides.
The program is supported by the gold mineralization intercepted in trenches and from soil geochemistry anomalies, stream sediments and geophysics.
The initial drill holes of Reverse Circulation drilling is subdivided by Target as follow:
- Igrejinha Target: 740 meters (Figure 2)
- Mir_Coelho Target: 390 meters (Figure 3)
- Queimadas Target: 870 meters (Figure 4)
- Coelhos Target: 1,125 meters (Figure 4)
- Mirador Target : 1,375 meters (Figure 5)
- Twin Drill Holes: 500 meters
Additional Exploration works: Trenches, Geological Mapping and Validation of the Historical Drill holes
Geological mapping and complementary trenches have been carried out on these five more prospective targets. Additionally soil, stream sediments and geophysical anomalies along the 42 km trend, have been completed to identify additional prospective targets results of which will be included in an Exploration Report due in June 2021 to the ANM (Brazilian Mineral Agency). In parallel the Company has completed an inventory review of the historical drill corewhich included confirming the condition and integrity of the core storage. We will seek to identify core for re-sampling with the intent to validate historical diamond drill holes.
Marcelo Batelochi, our Senior Exploration Manager commented: “We are excited to announce to commencement of the drill program at the Pedra Branca project with a focus on the more prospective targets covering 30% of the total NE trend that have been identified as mesothermal shear zone hosted gold deposit, associated to the Senador-Pompeu shear zone. This RC drilling will contribute considerably for a better understanding of the geology, structure and controls on the gold mineralization near surface in order to support next exploration program of diamond drilling following the Orogenic Gold Mineralization Model that is often continuous to considerable depths in these systems.”
Mr. Meirelles, President and CEO stated: “We are impressed by the speed and efficiency of our team on the ground. We will continue to work towards a better understanding of Pedra Branca and unlocking further value of this property.”
ON BEHALF OF THE BOARD
Douglas Meirelles, President and CEO
For more information regarding this news release, please contact:
The scientific and technical information that forms the basis for parts of this press release was reviewed and approved by Marcelo Antonio Batelochi (P.Geo.), MAUSIMM (CP), who is a Qualified Person “(QP”) as defined by National Instrument 43-101.
Cautionary Note Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking Information”, as such term is used in applicable Canadian securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. There can be no assurance that the Fundamental Acquisition will be completed as proposed or at all.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
Neither the 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.
Figure 1: Geology and Location of the more prospective targets at Pedra Branca Project: Mirador, Queimadas e Coelhos, Igrejinha and Mir-Coelhos
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Figure 2: Reverse Circulation Drilling programme and Exploration result of Igrejinha Target
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Figure 3: Reverse Circulation Drilling programme and Exploration result of Queimadas and Coelhos Targets
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Figure 4: Reverse Circulation Drilling programme and Exploration result of Mir_Coelho Target
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Figure 5: Reverse Circulation Drilling programme and Exploration result of Mirador Target
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Figure 6: Main trend.