Lupaka Acquires Three Potential Gold Properties in Oregon, USA
11 Januar 2022 - 1:00AM
Lupaka Gold Corp. (“
Lupaka” or the
“
Company”) (TSX-V: LPK, FRA: LQP) is pleased to
announce that it has acquired three potential gold properties in
the state of Oregon, USA. All three properties are in the
south-east corner of the state in a similar geological environment
to the prolific Battle Mountain - Eureka trend in Northern Nevada.
One: Idol City
The Idol City property contains epigenetic gold mineralization
associated with two zones of north-east trending, hydrothermal
brecciation and alteration within Tertiary intermediate lavas that
were intruded by rhyolite dikes, plugs and quartz porphyry granitic
bodies. Previous drilling by Noranda penetrated several zones of
mineralization over significant widths, including an interval of 43
meters grading 1.37 grams of gold per tonne.
Several targets remain untested on the property, including
portions of both exposed breccias, possible unexposed breccias,
structural intersections and a hypothetical gold-rich,
Au-arsenopyrite zone that might occur at depth, in a vertically
zoned system. These targets merit further investigation, including
an aggressive drilling program.
Two: Pine Creek
The property lies at the intersection of two NNW and WNW
trending, regional, structural lineaments and is underlain by a
Miocene sequence of intermediate volcanics, ash flow tuffs,
tuffaceous sediments, siltstones and local (sulfide-bearing) jasper
bodies. A pronounced zone of silicification and irregular jasper
bodies occurs at the intersection of two structural lineaments. A
1989 soil survey outlined an anomalous zone of gold and coincident
molybdenum, 427 meters long and 305 meters wide.
During the late 1980’s and 1990’s Chevron and Battle Mountain
drilled ten and nine holes, respectively, on the property. Seven of
Chevron’s ten holes reported anomalous gold. One of the Battle
Mountain drill holes intersected nine meters grading 1.20 grams of
gold per tonne. Previous exploration indicates that the area of
interest may exceed 1115 hectares. This property merits further
investigation, including a systematic exploration program.
Three: Red Mountain
The Red Mountain property is located in southern Oregon, close
to the Nevada border and lies at the intersection of two major, NE
and NW trending structural lineaments; the Black Rock Structural
Zone that hosts the Hog Ranch deposit and the Orevada Rift
(Carlin-Buckskin-McDermitt Trend) that hosts numerous, well-known
deposits).
Two (Tertiary age) mounds of dumbbell-shaped chalcedonic and
opaline sinter outcrop, approximately 900 meters long by 300 meters
wide, are flanked by a mixture of Quaternary alluvial sediments and
extensive zones of welded, intra-caldera tuff and flow-banded
rhyolite dome facies.
Geologic mapping and geochemical surveys conducted by a previous
owner have demonstrated anomalous values for mercury, arsenic and
gold in a hot-spring-type chalcedonic /opaline sinter on the edge
of a caldera, at the intersection of two major structural
lineaments. This property merits further investigation to define
and explore hot spring-type targets, analogous to the Hog Ranch
Mine Caldera environment.
All three properties are held in the name of the Company’s
wholly-owned US subsidiary, Lupaka USA Limited. These properties
were acquired through a staking process for nominal cash costs. The
staking was undertaken by High Calibre Exploration &
Development Ltd. (“High Calibre”), which is contracted by the
Company to provide consulting geologist and QP services.
Additionally, High Calibre is entitled to finders’ fee compensation
should any of these properties be sold by the Company.
Qualified PersonWilliam Burstow, a Qualified
Person as defined by National Instrument 43-101 Standards of
Disclosure for Mineral Projects, has read and approved all
technical and scientific information contained in this news
release. Mr. Burstow is the owner of High Calibre.
Neither the TSX Venture Exchange nor its Regulation
Service Provider (as the term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy of this
news release.
About Lupaka Gold Lupaka is an active
Canadian-based company focused on creating shareholder value
through identification and development of mining assets.
FOR FURTHER INFORMATION PLEASE
CONTACT:
Gordon Ellis, C.E.O.gellis@lupakagold.comTel:
(604) 985-3147
or visit the Company’s profile at www.sedar.com
or its website at www.lupakagold.com
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