Announcement Date: 2023-01-31
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Goldflare Exploration Inc.
Project name: Condor
Location: Ecuador
Commodities: Gold
Highlight: Drilling results incl. 4.9m at 0.97g/t Au from 19.1m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: PIEDMONT, QC, Jan. 31, 2023 /CNW Telbec/ – Goldflare Exploration inc. (TSXV: GOFL) (« Goldflare » or « the Society ») announces the first results of its second phase of drilling on the Syenite Condor property located 35 km north-east of the town of Rouyn-Noranda. Assay results from the first six holes totaling 997 meters have been received with best results of 0.97 g/t over 4.9 meters, followed by 0.7 g/t over 5.9 meters from hole CDR-22- 14. (Details in the following table). The new mineralized hole is located about 200 metres northwest from the initial Condor-1 discovery (see Goldflare March 3rd press release). The six holes presented show strong gold alteration developed in hematized and fractured porphyritic syenite intrusions. This particular type of rock is closely related to the gold system. This is reflected by a gold signal varying between 0.01 and 0.1 g/t developed over drill lengths varying between 5 meters and 150 meters. The company is pursuing the program with additional short holes planned to test some of the targets identified on the Clericy syenite intrusion over about four square kilometres. These targets, overburden covered, were defined using a combination soil geochemistry and IP ground survey supported by structural mapping.
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