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Clarity Gold Reports High Grade Gold Intercepts, Including 39.29 g/t Au over 0.5 m

GlobeNewswire ·  {{timeTz}}

Figure 1

Location map of drill hole collars DES21-163-167 and DES169-171

VANCOUVER, British Columbia, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Clarity Gold Corp. ("Clarity" or the "Company") (CSE: CLAR, OTC: CLGCF, FSE: 27G) is pleased to announce the third tranche of analytical results from the approximately 10,800 meter diamond drill program at the Destiny Project in the Abitibi Greenstone Belt.

Selected Intercepts DAC Zone
DES21-164: 0.76 g/t Au over 36.65 m and 0.44 g/t Au over 55.9 m
DES21-169: 0.42 g/t Au over 43 m and 1.04 g/t Au over 14.45 m
DES21-170: 1.22 g/t Au over 30 m including 8.85 g/t Au over 2.55 m and 39.29 g/t Au over 0.5 m
DES21-171: 1.34 g/t Au over 14.25 m and 0.78 g/t Au over 37.25 m

Selected Intercepts Gap Zone
DES21-165: 0.32 g/t Au over 25.5 m and 0.34 g/t Au over 24 m
DES21-167: 1.32 g/t Au over 9.6 m including 5.05 g/t Au over 1.6 m

The results in this press release are from holes completed on the central portion of the DAC Zone and Gap Zone that were designed to infill and confirm the mineralized structure and anticipated mineralization identified in historic drilling. The results of this drilling will play an important role in understanding the distribution of mineralization.

"The results from this batch of diamond drill holes further confirm the presence of mineralization in the DAC Zone and western portions of the Gap Zone," stated CEO, James Rogers. "These results will contribute to the ongoing understanding of the mineralized structure at Destiny while we continue to advance our flagship project."

It should be noted that drill hole DES21-168, not mentioned herein was previously discussed in the News Release dated September 15th 2021. This describes in further detail the deepest drilled mineralized intersection yet encountered at the Destiny Project.

All drilling on the project mentioned in this disclosure have intercepted anomalous gold and confirmed the presence of the quartz carbonate altered and mineralized shear zone. Gold occurs as free gold and in association with pyrite and chalcopyrite as observed in thin section and in drill core.

Figure 1: Location map of drill hole collars DES21-163-167 and DES169-171.

Table 1 Selected significant Intercepts holes DES21-163 to DES21-171; greater than 0.25 g/t Au

Zone Hole (ID) Composite Type From (m) To (m) Interval (m) Grade (Au g/t)
Gap DES21-163 Composite Interval 144.00 174.00 30.00 0.36
DAC DES21-164 Composite Interval 333.00 344.00 11.00 0.76
DAC DES21-164 Including 335.00 335.90 0.90 1.35
DAC DES21-164 And 337.85 339.00 1.15 2.81
DAC DES21-164 Composite Interval 357.40 394.05 36.65 0.76
DAC DES21-164 Including 358.30 364.30 6.00 2.01
DAC DES21-164 And 389.05 393.00 3.95 1.38
DAC DES21-164 Composite Interval 406.00 461.90 55.90 0.44
DAC DES21-164 Including 412.50 414.50 2.00 1.21
DAC DES21-164 And 421.50 423.50 2.00 3.08
DAC DES21-164 And 427.20 427.70 0.50 1.40
DAC DES21-164 And 450.00 452.00 2.00 1.34
Gap DES21-165 Composite Interval 190.00 202.70 12.70 0.36
Gap DES21-165 Composite Interval 210.00 216.00 6.00 0.68
Gap DES21-165 Including 214.00 216.00 2.00 1.12
DAC DES21-166 Composite Interval 348.00 361.00 13.00 0.52
DAC DES21-166 Including 350.95 353.10 2.15 1.56
DAC DES21-166 Composite Interval 445.00 469.00 24.00 0.34
DAC DES21-166 Including 446.00 449.80 3.80 1.43
DAC DES21-166 Composite Interval 486.00 492.00 6.00 0.59
DAC DES21-166 Including 490.00 490.90 0.90 1.98
DAC DES21-166 Composite Interval 557.95 563.00 5.05 0.73
DAC DES21-166 Including 562.00 562.55 0.55 4.60
Gap DES21-167 Composite Interval 99.10 102.50 3.40 1.04
Gap DES21-167 Including 101.00 101.90 0.90 2.41
Gap DES21-167 Composite Interval 182.00 191.60 9.60 1.32
Gap DES21-167 Including 183.00 184.50 1.50 1.73
Gap DES21-167 And 187.90 189.50 1.60 5.05
DAC DES21-169 Composite Interval 73.00 81.00 8.00 0.62
DAC DES21-169 Including 75.55 78.35 2.80 0.93
DAC DES21-169 Including 99.55 99.80 0.25 6.40
DAC DES21-169 Composite Interval 147.00 190.00 43.00 0.42
DAC DES21-169 Including 151.00 152.20 1.20 1.66
DAC DES21-169 And 165.70 167.65 1.95 1.25
DAC DES21-169 And 174.00 176.45 2.45 0.80
DAC DES21-169 Composite Interval 208.00 222.45 14.45 1.04
DAC DES21-169 Including 211.45 212.45 1.00 3.54
DAC DES21-169 And 220.00 222.45 2.45 3.83
DAC DES21-169 Composite Interval 261.65 263.50 1.85 1.52
DAC DES21-170 Composite Interval 210.10 220.00 9.90 0.59
DAC DES21-170 Including 218.00 219.00 1.00 3.42
DAC DES21-170 Composite Interval 238.50 268.50 30.00 1.22
DAC DES21-170 Including 241.00 242.55 1.55 1.99
DAC DES21-170 And 251.70 254.25 2.55 8.85
DAC DES21-170 Or 252.40 252.90 0.50 39.29
DAC DES21-170 And 257.30 257.60 0.30 2.50
DAC DES21-170 And 260.00 261.00 1.00 1.19
DAC DES21-170 Composite Interval 271.70 277.00 5.30 0.52
DAC DES21-170 Composite Interval 302.00 321.00 19.00 0.77
DAC DES21-170 Composite Interval 342.00 356.00 14.00 0.44
DAC DES21-170 Including 344.00 345.00 1.00 3.17
DAC DES21-171 Composite Interval 65.90 69.75 3.85 1.14
DAC DES21-171 Including 65.90 67.45 1.55 1.88
DAC DES21-171 And 69.00 69.75 0.75 1.24
DAC DES21-171 Composite Interval 131.00 145.25 14.25 1.34
DAC DES21-171 Including 138.40 141.35 2.95 4.21
DAC DES21-171 And 142.00 143.00 1.00 1.21
DAC DES21-171 And 144.00 144.50 0.50 4.86
DAC DES21-171 166.00 203.25 37.25 0.78
DAC DES21-171 166.00 172.00 6.00 0.99
DAC DES21-171 187.00 189.00 2.00 6.31
DAC DES21-171 200.15 203.25 3.10 1.32
DAC DES21-171 301.75 302.85 1.10 3.25

*Assay results are reported in core length. True width is estimated to be between 80% and 97%. Average recovery for these holes is 98.99%

Table 2: Drill Hole collar coordinates, and downhole specifications.

Hole Number Hole Type Azimuth degrees Inclination degrees Hole Size Easting m (NAD83/UTM Z18N) Northing m (NAD83/UTM Z18N) Total Depth m
DES21-163 DD 180 -50 NQ 318100.476 5401551.61 264
DES21-164 DD 169.6 -55 NQ 317432.782 5401927.782 552
DES21-165 DD 180 -50 NQ 318101.957 5401600.582 351
DES21-166 DD 170 -60 NQ 317432.782 5401927.782 603
DES21-167 DD 180 -50 NQ 317999.418 5401605.132 303
DES21-168 DD 160 -80 NQ 317345.511 5402225.201 963.4
DES21-169 DD 180 -50 NQ 317555.152 5401649.064 300
DES21-170 DD 165.1 -55.3 NQ 317470.894 5401814.673 459
DES21-171 DD 192 -70 NQ 317555.104 5401649.537 306

The Company looks forward to updating further as additional results are received and as we continue to interpret these results as we evaluate bulk tonnage and high-grade models for the Destiny Project.

Quality Control and Reporting Protocols

Drill core is transported to a facility in Val d'Or where it is logged, photographed, and sampled. Once logging is complete, samples of half core are sawed, prepared and securely shipped to Bureau Veritas Laboratories in Timmins for processing and analysis, an independent, ISO 17025 certified facility. Samples were crushed to 70% passing 2mm and a 250g subsample was pulverized to 85% passing 75μm. The subsample was analyzed by a combination of fire assay with atomic absorption finish for gold and aqua regia digestion with an ICP-ES finish for a suite of 33 elements. Samples containing visible gold or which returned over 2.0 g/t Au were analyzed by metallic screen fire assay. The Company has established a QA/QC program consisting of inserting quality control (QC) samples at regular intervals in the sample stream, including blanks, duplicates, and reference materials.

Qualified Person

Mr. Rory Kutluoglu P. Geo., a member of the advisory board and a consultant of the Company, is the Qualified Person ("QP") under NI 43-101 for the technical information in this news release and has verified the data disclosed for the Destiny Project and approves the technical contents contained in this news release.

About the Company's Flagship Destiny Project

Clarity Gold also anticipates additional results from their continued exploration efforts on the flagship Destiny Project. The company recently completed a 10,826 m drill campaign, with samples currently being processed by Bureau Veritas and are anticipated shortly.

  • Option to acquire 100% ownership.
  • Located in the historic, mineral rich Abitibi Greenstone Belt.
  • Gold mineralization occurs in high-grade quartz veins within shear zones starting at 15 m below surface.
  • Historic Drilling results include:
    • 167 g/t Au over 1 m (from 221.7 m)
    • 6.15 g/t Au over 23.6 m (from 117.2 m)
    • 19.49 g/t Au over 2.7 m (from 166.0 m)
  • The Historical Estimate at the DAC Zone is open along strike with only coarse drilling denoting high grade intercepts outside of the 2011 Historical Estimate area showing expansion potential along strike from the DAC Zone over approximately 2.5 km to the Darla Zone.
  • Excellent infrastructure – ~75 km NNE of Val d'Or with road access.
  • Drilling on the property to date exceeds 60,000m
  • The Company owns 100% of two private lots totaling approximately 82ha

The Destiny Project is located in the prolific Abitibi Greenstone Belt where more than 190 million ounces of gold have been produced historically along major structural breaks within the assemblage of Archean-age volcanic, sedimentary and intrusive rocks. The Destiny Project lies along the approximately 400 km long Chicobi Deformation Zone, a major structural break which is largely underexplored in the Abitibi Greenstone Belt.

The 5,013 ha project includes the DAC Zone, one of several gold zones along an approximately 6 km long segment of the Despinassy Shear Zone within the Chicobi Deformation Zone. Approximately 2.5 km east along strike of the DAC Zone is the Darla Zone. In between the Darla and DAC is the coarsely drilled GAP zone where 2012 drilling intercepted anomalous gold in all 12 holes which were spaced 100 m apart.

The current exploration potential is based on decades of past work on the Destiny Project. Exploration of the Destiny Project dates back to the 1930s. The first concerted diamond drilling campaign was conducted in 1998.

Previous work on the property can be summarized as follows:

  • 172 Diamond drill holes comprising approximately 50,400 m
  • Reconnaissance till sampling from 11 Sonic drill holes
  • 2,430 MMI geochemical samples
  • 982 line km of airborne VTEM surveys
  • 171 line km of ground magnetics surveys
  • 128 line km of IP

About Clarity

Clarity Gold Corp. is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold projects in Canada. The Company has entered into an option agreement to purchase 100% of the Destiny Project, Clarity's flagship asset, a gold-focused project in the mineral rich Abitibi region in Quebec. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the symbol "CLAR". To learn more about Clarity Gold Corp. and its projects please visit www.claritygoldcorp.com.

ON BEHALF OF THE BOARD
"James Rogers"
Chief Executive Officer
Tel: 1 (833) 387-7436
Email: info@claritygoldcorp.com
Website: claritygoldcorp.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements regarding: that the first holes confirm the presence of mineralization on the western portions of the historic DAC resource estimate area; that the results will help build the Company's understanding of the mineralized system which will continue to be enhanced as the Company receives more data from the ongoing drilling and the Company's work with the recently announced Minerva Intelligence AI processing of the historic database; that the Company is focused on understanding the distribution of high-grade mineralization within the system; that the results in this press release are from holes completed on the western portion of the DAC Zone that were designed to infill and confirm the mineralized structure and anticipated mineralization identified in historic drilling; that the results of this drilling will play an important role in understanding the distribution of mineralization; that the Company looks forward to updating further as additional results are received and as the Company continues to interpret these results as it evaluates bulk tonnage and high-grade models for the Destiny Project.

The forward-looking statements reflect management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements including: that the drilling may not go as planned or start when expected; that the Company may experience difficulties in drilling and carrying out related work; changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; the risk that the Company may lose access to the property; the risks that the Company may not find any minerals in commercially feasible quantities; that the Company may not raise enough money to fund its exploration plans; uncertainty of development plans and cost estimates; commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations; the state of the capital markets; uncertainty in the measurement of mineral reserves and resource estimates; the Company's ability to attract and retain qualified personnel and management; potential labour unrest; uncertainty as to reclamation and closure requirements for its mineral properties; unpredictable risks and hazards related to the exploration and development and operation of a mine or mineral property that are beyond the Company's control; and other risks and uncertainties identified under the heading "Risk Factors" in the Company's continuous disclosure documents filed on SEDAR. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include general market conditions and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.


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