Stewart, BC – Decade Resources Ltd (“Decade” or the Company) is reviewing the Company 2022 field season exploration which includes drilling the Red Cliff gold-copper, Del Norte porphyry copper-gold and Treasure Mountain copper-silver projects.
In the period 2009 to 2011, the Company drill tested the Upper Montrose zone within the Crown Granted claims on the property. The north-south zone has been traced for over 2.2 kilometres on the claims. Highlights of drilling in the Upper Montrose zone are summarized below:
Note: the above intersections are core length, true width is 60-70% off the intersections. Copper values are associated with the above intersections. Drilling in the Upper Montrose is hampered by steep terrain and substantial road work is required for creating drill stations. Drilling in 2022 will be close spaced drilling around these intersections to define a resource.
The Company also is planning to evaluate further drill sites on the Argo/LG zone that would further expand on the excellent results to date. Drilling in the 2020-2021 field seasons has outlined a zone that is in excess of 1.2 km in length. Some of these results are shown below:
- 5.3 g/t gold and 35.88 g/t silver over 6.2 m in DDH-DN20-10 on the Eagle’s Nest zone.
- 6.03 g/t gold and 597.39 g/t silver over 4.95 m in DDH-DN20-18 on the LG/Argo zone.
- 17.5 g/t gold and 815.98 g/t silver over 2.46 m in DDH-DN20-20 on the LG/Argo zone.
- 1.75 g/t gold and 1.31% copper over 4.73 m in DDH-DNLN20-01 on the “14 oz” zone.
- 7.13 g/t gold and 815.98 g/t silver over 4.27 m in DDH-DN21-09 on the LG/Argo zone.
- 31.56 g/t gold and 391.27 g/t silver over 7.01 m in DDH-DN21-12 on the LG/Argo zone.
In the Del Norte valley, historic drilling has indicated a potential porphyry copper-gold system based on drilling in 1990, 2014 and 2016. Highlights of 2016 drilling indicate the start of a porphyry system at depth as seen in the following table:
Drilling has tested red bed copper-silver mineralization on the Treasure Mountain claims. Several drill programs were carried out from 1964 to the early 2000 period. Highlights of some of this drilling is shown in the table below:
The above drilling is historic and has not been verified by the Company. It is used for reference purposes.
The Company plans to expand the area of mineralization through detailed mapping and sampling.
Decade Resources Ltd is using its best efforts to complete a non-brokered private placement of flow-through and non-flow-through shares to raise aggregate gross proceeds of up to $500,000.
The flow-through offering will comprise up to 4,615,384 flow-through shares, at a price of six and one half cents per flow-through share, for gross proceeds of up to $300,000. The federal proposal for the Mineral Exploration Tax Credit (METC) provides an additional income tax benefit for individuals who invest in mining flow-through shares, which augments the tax benefits associated with the deductions that are flowed through. The METC is equal to 15 per cent of specified mineral exploration expenses incurred in Canada and renounced to flow-through share investors. The proposed 2022 Budget proposes to introduce a new 30-per-cent Critical Mineral Exploration Tax Credit (CMETC) for specified minerals. The specified minerals that would be eligible for the CMETC are: copper, nickel, lithium, cobalt, graphite, rare earth elements, scandium, titanium, gallium, vanadium, tellurium, magnesium, zinc, platinum group metals and uranium. These minerals are used in the production of batteries and permanent magnets, both of which are used in zero-emission vehicles, or are necessary in the production and processing of advanced materials, clean technology, or semi-conductors.
The offering of non-flow-through shares will comprise up to 4,000,000 shares, at a price of five cents per share, for gross proceeds of up to $200,000.
The proceeds from the sale of the flow-through shares will be expended on the company’s properties located in British Columbia and the proceeds from the sale of non-flow-through shares will be used for working capital purposes.
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 is responsible for the contents of this release. E. Kruchkowski is not independent of Decade as he is the president of the Company.
Decade Resources Ltd. is a Canadian based mineral exploration company actively seeking opportunities in the resource sector. Decade holds numerous properties at various stages of development and exploration from basic grass roots to advanced ones. Its properties and projects are all located in the “Golden Triangle” area of northern British Columbia. For a complete listing of the Company assets and developments, visit the Company website at www.decaderesources.ca which is presently being updated. For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.
ON BEHALF OF THE BOARD OF DECADE RESOURCES LTD.
Ed Kruchkowski, President
“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.” “This news release may contain forward–looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.”