NEW CAROLIN GOLD

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New Carolin Identifies Four Targets At Ladner

Drill Results - Ladner Gold Project

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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.


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New Carolin identifies four targets at Ladner

2018-10-17 20:13 ET - News Release

Mr. Kenneth Holmes reports

NEW CAROLIN GOLD CORP. ANNOUNCES POTENTIAL QUANTITY AND GRADE OF FOUR NEAR-MINE TARGETS TO ADD TO CAROLIN MINE

New Carolin Gold Corp. has identified four near-mine targets at the company's 100-per-cent-owned Ladner gold project, which includes the historic Carolin gold mine, just 18 kilometres northeast of Hope, B.C., a permitted project with extensive underground development, a well-maintained and permitted tailings storage facility, and access to power and water.

The four targets are referred to as the Hozameen Zone, Aurum, Aurum Connector and Aurum Deep Targets.

The potential quantities and grades of these exploration targets are summarized as follows:

Target               Tonnes                       Grade (Au, g/t)Au (g)              Au (oz)       
                     From            To           From    To     From      To        From    To     
Hozameen             356,000  a      600,000      2.30    3.70   3,661,800 3,836,400 117,700 123,300
Aurum & Aurum Deep   412,830  b      1,078,000    1.72    3.10   3,557,800 5,154,600 114,400 165,800
Aurum Connector      93,000  c       194,000      1.72    3.10   801,500   927,600   25,800  29,800 
                                                               Total Au (oz)        258,000  319,000
a - Based on target  80 x 5 x 320
b - Based on target  550 x 9 x 30
c - Based on target size of 280 x 4 x 30               
                                                                                                                                                         

The potential quantity and grade for the Hozameen zone, Aurum, Aurum Connector and Aurum Deep exploration targets set out above and everywhere else in this news release are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

In addition to these immediate exploration targets, the respective zones are open in all directions, can be drilled year-round from the existing underground workings with relatively short holes and would be a natural extension of the existing mine.

In addition to these exploration targets, the Ladner Project also contains previously announced mineral resources and numerous other exploration prospects on its 27 kms long property straddling the Hozameen Fault. The Carolin mine is a permitted project with extensive and operational underground development, a well maintained and permitted tailings storage facility and access to power and water.

In the 1982, 1983, 1984 period during which the Carolin mine was previously in production, the annual average production grades, as reported in the Company's Technical Report (see definition below), ranged from .087 ozs/ton. to a .106 ozs./ton. During this period gold prices, expressed in current dollars, ranged from a low of $679 in December 1984 ($308 in 1984 dollars) to a high $1088 in January, 1983 ($476 in 1983 dollars). The historic gold prices referenced above were taken for www.goldprice.org and the conversion of the historic prices to current dollars was done using the inflation calculator available at www.bankofcanada.ca/rates/related/inflation-calculator.

HOZAMEEN ZONE

The Hozameen Zone is characterized by a northwest-plunging, antiformal contact between strongly altered andesite volcanic rocks and the mine sequence metasedimentary rocks. Elevated gold grades encountered in hole 18NC10 include 5.00 m of 3.23 g/t (89.00 - 94.00 m) and 9.00 m of 5.04 g/t (63.00 - 72.00 m) and occur within andesite characterized by strong albite-ankerite alteration and wallrock sulphidation proximal to quartz veins. Historical drilling encountered similar or better grades (Table 1).

  Table 1: Hozameen Zone recent and historical drill hole intercepts

  Hole      From (m)To (m)Interval (m)Au (g/t)
18NC10    63.0    72.0  9.0         5.04    
18NC10    89.0    94.0  5.0         3.23    
11050-60  276.8   314.7 37.9        2.50    
11000-71  154.9   265.6 110.7       2.13    
including 154.9   162.0 7.1         6.43    
including 178.3   182.3 4.0         3.40    
including 192.0   196.9 4.9         3.76    
including 226.5   229.5 3.0         3.84    
934-96-1  47.0    73.0  26.0        4.73    
including 47.0    50.0  3.0         5.90    
including 54.0    73.0  19.0        5.14    
966-8     8.1     15.3  7.2         2.88    
966-96-1  24.8    32.0  7.2         3.26    
11050-63  165.5   174.5 9.0         11.40   
11100-61  186.9   190.0 3.1         10.26   
11100-96-1225.6   230.3 4.7         5.47    

The conceptual size of the tabular-shaped Hozameen Zone has been defined by recent and historical drill hole data and is exclusive of the 2012 resource estimate. A wireframe solid representing Hozameen Zone mineralization was generated based on cross section and plan interpretation. Using an average specific gravity of 2.78, and volume defined by the mineralized solid, the conceptual tonnage of the Hozameen Zone ranges from approximately 356,00 to 600,000 tonnes with gold grades within the solid range from 2.30 g/t Au, represented by drill hole assay results from a total of 337 samples contained within the mineralised domain, to 3.27 g/t Au, represented by ten composite drill hole intervals within the domain. The Hozameen zone remains open down plunge to the northwest and is a priority for the next drilling campaign. The potential quantity and grade for the Hozameen zone is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

AURUM & AURUM DEEP TARGETS

The Aurum Deep and Aurum targets are hosted by talc schist situated near a subvertical contact between mixed andesite and metasedimentary rocks and ultramafic rocks. The two targets are interpreted to occur within the same pseudo-stratigraphic position but 280 metres apart. The Aurum target was explored from 1920 to 1930 with minor underground development and gold production. The Aurum target was subsequently drilled in 1989. Drill hole intervals from the Aurum Deep and Aurum targets are summarized in tables 2 and 3 respectively.

  Table 2: Aurum Deep Target drill hole intercepts

  Hole     From (m)To (m)Interval (m)Au (g/t)
18NC10   145.0   149.0 4.0         3.02    
837-96-1 178.4   183.4 5.0         2.86    
895-96-3 175.0   182.0 7.0         3.94    
11000-71 247.3   251.3 4.0         4.17    
11050-60 276.8   310.4 33.6        2.66    
including276.8   296.8 20.1        3.49    
including305.6   310.4 4.8         2.76    


  Table 3: Aurum Target historical drill hole intercepts

  Hole From (m)To (m)Interval (m)Au (g/t)
C-1  92.2    94.4  5.2         2.19    
OG-5342.4    46.0  3.6         6.79    
ID-1238.4    41.2  3.1         4.05    
OG-5647.8    52.1  4.3         1.86    

The conceptual size of the cigar-shaped Aurum and Aurum Deep target has been defined by recent and historical drilling and is exclusive of the 2012 resource estimate. A wireframe solid representing the Aurum and Aurum deep target was generated based on cross section and plan interpretation using current and historical drill hole data. Using an average specific gravity of 2.78, the cumulative tonnage of the Aurum and Aurum Deep targets range from 412,830 to 1,078,000 tonnes with gold grades within the zone range from an average of 1.72 g/t Au, represented by 252 samples contained within the mineralised domain, to 3.10 g/t Au, represented by nine drill hole composite intervals. The potential quantity and grade for the Aurum and Aurum Deep exploration targets is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

AURUM CONNECTOR ZONE

At present, a 280-metre gap exists between the Aurum Deep and Aurum targets where additional drilling is required to determine if continuity exists between the two zones. This gap, the Aurum Connector, represents a potential target ranging from 93,000 to 194,600 tonnes at 1.72 g/t Au to 3.10 g/t Au.

QUALIFICATION

The potential quantity and grade for the Hozameen zone, Aurum, Aurum Connector and Aurum Deep targets contained in this news release are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

The potential quantity and grade for the Hozameen, Aurum and Aurum Deep targets are based on a 3Dwireframe solids generated from cross section and plan interpretation of mineralization from historic and current drill holes, and from the samples and drill hole intervals of which the 3D wireframes contain. The disclosed grade and tonnage of these targets are exclusive of known mined portions of the New Carolin Mine and of resource blocks that are contained in the 2012 Resource estimate.

The basis of the potential tonnage for the Aurum Connector is based on the conceptual target having similar dimensions as the Aurum and Aurum Deep targets based on an average thickness of 10 metres, vertical extent of 25 metres, potential strike length of 280 metres and SG of 2.78.

The historic gold prices referenced above were taken for www.goldprice.org and the conversion of the historic prices to current dollars was done using the inflation calculator available at www.bankofcanada.ca/rates/related/inflation-calculator.

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.

For more details regarding the Company's Ladner Gold Project and Mineral Resources, see the Company's National Instrument 43-101 Technical Report for the Ladner Gold Project dated May 29, 2015 (the "Company's Technical Report") and filed on SEDAR.

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.

 

 

 

 

New Carolin Mines Vancouver, BC / TheNewswire / September 4, 2018 - New Carolin Gold Corp. (the "Company" or "New Carolin") (TSXV: LAD | OTCBB: LADFF): New Carolin is pleased to announce assay results from the latest phase of underground drilling at the Company's 100% owned Ladner Gold Project, which includes the Carolin Gold Mine, just 18 kms northeast of Hope, British Columbia.

Building upon historical data gathered from previous production, drilling and sampling, the recently completed phase of 13 diamond drill holes totalling 1,489 metres was designed to expand the known resource within the bulk tonnage sedimentary gold emplacement model, specifically to confirm select high grade historic drill intercepts cutting in-situ Main Zone mineralization directly in front and down plunge of existing Carolin Mine open stopes between the 800 meter and 875 meter levels; cut the northern extent of the East Zone mineralization; and provide confirmation and select step-out drilling below the Lower Zone mineralization (Figure 1).


Click Image To View Full Size

The drilling results appear to confirm the historical data and the continuation of the Company's exploration strategy (Table 1).

However, of particular note is drill hole 18NC10 which, in addition to confirming expected geology and mineralization in the Main Zone, pierced an additional lower zone offset 200 metres to the southwest, referred to as the Hozameen Zone. Drill hole 18NC10 intersected 93 meters averaging 1.39 grams-per-tonne gold (g/t Au); including 7 meters of 5.75 g/t Au (Table 1). This hole was drilled diagonally across two widely spaced historic holes, 11050-60 and 11000-71 that returned significant broad gold mineralized intercepts that until now had never been followed up (Table 2).

 

Table 1: 2018 Carolin Mine Phase 1 Significant Drill Intercepts

Drill Hole

Mine Level

From (m)

To (m)

Interval (m*)

Au (g/t)

18NC01

840

21.00

37.35

16.35

2.15

including

21.00

28.00

7.00

3.39

18NC02

840

15.00

22.00

7.00

0.21

and

29.90

37.00

7.10

0.98

18NC03

875

0.98

8.48

7.50

1.55

and

12.98

20.48

7.50

0.65

and

75.00

79.00

4.00

1.58

and

114.00

122.00

8.00

0.78

18NC04

875

6.10

14.00

7.90

1.16

18NC05

800

11.00

37.00

26.00

1.32

including

16.15

24.00

7.85

2.07

and

52.00

57.85

5.85

1.22

18NC06

800

36.00

47.20

11.20

2.91

18NC07

800

31.00

61.87

30.87

0.48

including

31.00

37.00

6.00

1.15

including

55.00

61.87

6.87

0.58

18NC08

800

22.35

39.00

16.65

0.22

18NC09

800

6.00

16.00

10.00

1.40

and

30.48

35.50

5.02

0.48

and

66.00

81.00

15.00

0.82

18NC10

800

11.00

18.00

7.00

1.89

and

58.00

151.00

93.00

1.39

including

61.00

99.00

38.00

2.36

including

63.00

80.00

17.00

3.43

including

65.00

72.00

7.00

5.75

including

106.00

119.00

13.00

1.23

including

144.00

150.00

6.00

2.21

18NC11

800

29.00

51.00

22.00

1.69

including

32.00

40.00

8.00

2.50

18NC12

800

27.00

42.00

15.00

0.81

including

35.00

42.00

7.00

1.24

18NC13

840

5.00

21.00

16.00

0.46

and

33.00

59.00

26.00

0.62

including

33.00

41.00

8.00

1.09

*True widths are estimated to be 70-90% of the drilled intercept. Due to the limited nature of previous drilling, the true width of drilled intercepts for drill holes 18NC09, 18NC10, and 18NC13 are not known

The current and historic drilling confirms the presence of a significant new zone of gold mineralization, offset to the southwest and distinct from Carolin Mine Main Zone. Within the context of the Company's Main Zone geological model, which interprets mineralization as hosted within a shallowly northwest plunging anticlinal hinge zone, the discovery of a broad zone of gold mineralization within drill hole 18NC10 is significant in that it may represent a parallel fold structure, or potential fault offset of the Carolin Mine Main Zone. The current Hozameen Zone gold intercept represents a near-mine "blind" discovery that warrants additional follow-up diamond drilling to establish its geometry, vertical, and lateral continuity.

Table 2: Hozameen Zone Historic Drill Intercepts

Hole

From (m)

To (m)

Interval (m)

Au (g/t)

11050-60

276.76

314.65

37.89

2.50

11000-71

154.89

265.55

110.66

2.13

including

154.89

163.00

8.11

5.94

including

191.00

198.00

7.00

3.34

including

247.32

262.50

15.18

4.00

Work on the Lander Gold Project is supervised by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a qualified person as defined by National Instrument 43-101. Mr. Raffle has reviewed and approved the scientific or technical content of this news release as it relates to the Carolin Mine and Ladner Gold Project. The 2018 core holes were drilled using NQ tooling to produce 4.76 cm diameter dill core. Core samples were half sawn and submitted to ALS Minerals (North Vancouver) or Activation Laboratories Ltd (Kamloops); both ISO 17025 and 9001:2015/2008 (ALS/Actlabs) accredited geo-analytical laboratories that are independent of the Company. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250 gram split to 85% passing 75 microns (ALS) or 95% passing 105 microns (Actlabs). Gold determination was via standard 30 gram fire-assay (FA) analysis. A quality assurance/quality control (QA/QC) program is in place, with the insertion of standard, blank and duplicate samples into the sample stream to confirm the accuracy of the reported results.

For more details regarding the Company's Ladner Gold Project and Mineral Resources, see the Company's National Instrument 43-101 Technical Report for the Ladner Gold Project dated May 29, 2015 (the "Company's Technical Report") and filed on SEDAR.

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