Toronto, Ontario--(Newsfile Corp. - January 18, 2021) - Canadian Silver Hunter Inc. (TSXV: AGH.H) ("Canadian Silver Hunter" or the "Company") is pleased to announce that the company has staked an additional 56 mining claims totalling 3,155 hectares, in the Lac Windfall area of Quebec. The claims are contiguous with the Company's existing Lac Lachance North property, which now covers over 5,300 hectares. The Company holds a total of 128 mining claims representing just over 7,200 hectares in the Lac Windfall area. The Company acquired the new claims for staking costs.
The additional claims were staked in order to cover electromagnetic anomalies associated with east-west trending fault zones on the northern limit of the Urban-Barry volcanic belt that hosts numerous gold deposits, including the Osisko Mining Inc., Lac Windfall Gold Deposit. The mineral resource defined by Osisko comprises 2,382,000 tonnes at 7.85 g/t Au (601,000 ounces)* in the indicated mineral resource category and 10,605,000 tonnes at 6.70 g/t Au (2,284,000 ounces)* in the inferred mineral resource category. ()
*2018: Technical Report and Mineral Resource Estimate for the Windfall Lake Project, Windfall Lake and Urban-Barry Properties; Prepared for Osisko Mining Inc.; J. St-Laurent, S. Faure, J. Torrealba; 339 pages.
Recent work by Osisko in the vicinity of the Lachance North claim group has indicated gold mineralization detected by diamond drilling associated with conductive sulphide zones. A 2018 Osisko report stated that drill hole OSK-UB-18-092 (Figure 1), "intersected 0.71 g/t Au over 1 metre. This grade is hosted in a massive sulphide zone within a strongly silicified unit of intermediate composition. Other anomalous gold values were intersected, ranging from 0.11 to 0.48 g/t Au, associated to other massive pyrrhotite-pyrite zones, often located at their contacts". (GM70939, Quebec Assessment Files)
Osisko drill hole OSK-UB-18-092 is located within a kilometer south of Canadian Silver Hunter's claims, which are also located on strike, both east and west of the Osisko drill hole.
The geological conditions that hosted gold mineralization on the Osisko property also exist on Canadian Silver Hunter's newly acquired claims. In 1992, Noranda Exploration drilled three holes on ground now covered by Canadian Silver Hunter's claims (See Figure 1). All three holes intersected sulphide mineralization hosted by intermediate to felsic tuffaceous rocks including one that intersected 0.38% zinc over 3.1 meters. The other two holes were drilled in close proximity to each other and intersected 20% pyrrhotite and trace chalcopyrite over widths of 4.2m and 5.2m respectively. (GM51713 Quebec Assessment Files)
The acquisition of the new property in the highly regarded Windfall Lake Area of Quebec, furthers the Company's plan to enhance shareholder value by acquiring claims of merit in the strategic mining areas of West Timmins, Ontario, Lac Windfall, Quebec and Cobalt, Ontario.
The contents of this press release have been reviewed by Wayne Holmstead, P.Geo, Qualified Person as defined by National Instrument 43-101.
About Canadian Silver Hunter Inc.
Canadian Silver Hunter Inc. is a Canadian mineral exploration company focused on gold and silver exploration in Ontario and Quebec. The Company currently owns two properties: the Silver Centre-Keeley Frontier property, located near Cobalt in Northern Ontario; and the Lac Lachance property, located near Lac Windfall in Quebec, and has an option to acquire a 100% interest in the Lost Dog property, located near Timmins in Northern Ontario. For further details about the Company's projects and plans please visit the Canadian Silver Hunter Inc. website at .
Figure 1: Map Showing Canadian Silver Hunter Property (Red) with Newly Acquired Claims (Yellow) and Significant Past Exploration Results.
To view an enhanced version of this graphic, please visit:
For more information please contact:
Jeffrey Hunter
President & CEO
(416) 707-4230
CAUTIONARY STATEMENT: 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.
Notice Regarding Forward Looking Information
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and commodity prices. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward looking information. The parties undertake no obligation to update forward-looking information except as otherwise may be required by applicable securities law.
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