Tickers: PINX:LADFF, XTSX:LAD
TheNewswire - January 23, 2020 - New Carolin Gold Corp. (the "Company" or "New Carolin") (TSXV: LAD) (OTC:LADFF): New Carolin is pleased to announce the results of the first hole from the company's 2019 underground drilling program on its 100% owned Ladner Gold Project.
Hole NC1901 was a 25 metre step-out from hole 11100-96-1 that encountered 10.54 meters of 3.4 g/t Au including 4.7 meters of 5.5 g/t. The mineralized zones in hole 19NC01 are coincident with hole 11100-96-1 and confirm the presence of the gold bearing zones discussed in the October 19, 2018 news release. Results are pending for hole 19NC02 which is a 50 metre step-out from hole 19NC01, and 100 metre step-out from hole 11100-96-1. Hole NC1902 was drilled to test the extensions of mineralisation encountered in hole 19NC01 and 11100-96-1.
Geological interpretations from core logging support the current vein models. Structural and lithological examination of the core indicates a continuation of mineralization along the NW trending hinge zone as well as the ultramafic contact zone. Based on these current vein models the true widths of the mineralized intervals represent approximately 70% to 90% of the downhole interval lengths.
Continued structural and surface studies will enhance geological knowledge to use as a predictive tool for discovering ore extensions, new mineralized zones and regional continuity.
All disclosure of scientific or technical information made herein is based upon information prepared by or under the supervision of Trevor Rabb P.Geo. (BC), a qualified person as defined by National Instrument 43-101. Mr. Rabb has reviewed and approved the scientific or technical content of this news release as it relates to the Carolin Mine and Ladner Gold Project. NQ sized drill core were logged, photographed and sampled. Core samples consist of half sawn core cut using a diamond saw. Samples were submitted to Activation Laboratories Ltd. (Actlabs) in Kamloops, BC. Actlabs is an ISO 17025 accredited lab. Sampling procedures involve quality assurance and quality control (QAQC) procedures. QAQC procedures consist of the insertion of blanks, standards and duplicates that represent approximately 10% of the samples submitted for analysis.
About New Carolin Gold Corp.
New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of our 100% owned property consisting of 144 square kilometers of contiguous mineral claims and crown grants, collectively known as the "Ladner Gold Project" (Project). The Project is located near Hope, BC in the prospective and under-explored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine and Pipestem Mine, and numerous gold prospects.
For additional information, please visit the Company's website at www.newcarolingold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Kenneth R. Holmes"
Phone: (778) 379-1275
Toll Free: 1(855) 891-9185
Web site: www.newcarolingold.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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 the accuracy of this press release.
Caution concerning forward-looking information
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
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