Stewart, BC – Decade Resources Ltd. (“Decade” or the “Company”) reports that it has entered into option agreements to purchase 100% interests in two gold properties near Flin Flon, Manitoba. In addition, Decade has staked claims between the two optioned properties, making the properties contiguous and bringing the size to 2674 hectares. This marks the Company’s first commitment to exploration outside British Columbia and more importantly, allows for exploration efforts to continue all year.
The first property consists of 3 claims totaling 750 hectares, accessible overland by trails, along an old railway bed and by water along the Cranberry Lakes. The claims cover a major structural break with three shear zones and at least 10 separate gold-bearing quartz-sulphide veins that are up to 4.5 metres (m) wide and have been traced for at least 60m along strike. The quartz in these shear zones contains chalcopyrite, sphalerite and locally visible gold. The highest historical assay reported from one vein was 33.6 grams per tonne (g/t) gold over 1.27m. Channel samples from another vein ranged from 1.37 – 75.4 g/t gold. Samples from the dumps of trenches across a third vein ranged from 1.37 – 11.66 g/t gold. These assays are historical, from government reports and have not been confirmed by the Company.
The second gold showing, approximately 1 kilometre (km) west of the first showing, hosts at least four quartz veins. The first vein is 1.5 to 1.8 m wide, at least 92 m long and contains pyrite, chalcopyrite and molybdenite. Gold was reportedly panned from crushed vein material. A second vein is parallel to the first vein, however, it is only exposed along the edge of a single outcrop and has an unknown strike length. The third vein located 120 m SW of the second vein is exposed in a trench. A sample taken from the vein is reported to have assayed 28.2 g/t gold. The fourth vein located 80 m SW of the third vein is described as being similar to the other three veins.
The third showing is located 1.5 km east of the first showing and previous prospecting has located three quartz veins yielding grab samples ranging from 8.82 to 46.04 g/t gold. Bulk samples returned 1.71 to 8.91 g/t gold and a channel sample assayed 6.17 g/t. These assays are historical and have not been confirmed by the Company.
To purchase the first property, Decade, subject to the approval of the TSX Venture Exchange, will pay the vendor a one time cash payment of $62,000, and issue 200,000 common shares. In addition, the vendor will retain a 3% NSR on the property.
The second property is also accessible by trails, railway bed and by water. It is 250 hectares in size and is underlain by a 61 metre wide shear zone containing iron carbonates and silica flooding with local gold values up to 9.5 g/t over 0.37 metres within this major shear system.
Decade will purchase a 100% interest in this property, subject to the approval of the TSX Venture Exchange, by making payments totaling $60,000 in cash and issuing 500,000 common shares over a 4 year period. Upon completion of purchase, Decade will grant the vendor a 2% NSR on the property, subject to Decade being able to purchase one half of the NSR (1%) for payment of $1,000,000.
The Company plans to start a program of prospecting, trench sampling, soil sampling and geological mapping during the first week of October to identify drill targets for future drilling.
Ed. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, has reviewed the contents of this release on behalf 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. Its properties and projects are primarily in Northern British Columbia. For a complete listing of the Company assets and developments, visit the Company website at www.decaderesources.ca.
For further information, please contact Andrew Bowering at 604-662-8184.
ON BEHALF OF THE BOARD
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.”