TORONTO–(BUSINESS WIRE)–$STLR.TO #gold—STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) (“STLLR” or the “Company”) announces the final assay results from the infill and confirmatory drilling program at the 55 Zone, Westaway and Windjammer North Deposits at the Golden Highway Area (western end) of the Tower Gold Project in Timmins, Ontario, Canada.
Table 1: 55 Zone, Westaway, and Windjammer North Drilling Highlights (See Figures 2, 3, & 4 for drill hole location map and section views of the 55 Zone drilling):
| Deposit | Hole ID | Result | ||
| Westaway | MGH23-438 | 4.32 g/t Au over 15.60 m (incl. 6.63 g/t Au over 8.00 m) | ||
| 55 Zone | MGH23-500 | 2.49 g/t Au over 16.00 m (incl. 17.15 g/t Au over 2.00 m) | ||
| 55 Zone | MGH23-381 | 0.88 g/t Au over 43.00 m (incl. 1.45 g/t Au over 17.00 m) | ||
| 55 Zone | MGH23-464 | 2.13 g/t Au over 14.50 m (incl. 4.48 g/t Au over 5.80 m) | ||
| Windjammer North | MGH23-488 | 0.77 g/t Au over 111.72 m (incl. 1.01 g/t Au over 26.00) | ||
| “g/t Au”: grams per tonne gold; “m”: metres | ||||
Tower Gold Project Update:
Keyvan Salehi, P.Eng., MBA, President, CEO, and Director of STLLR stated: “55 Zone infill drilling results continued to intersect higher-grade, near-surface gold mineralization. The results from the 55 Zone provided critical information that allows us to update and refine the Tower MRE block model. The Westaway and Windjammer North infill drilling results continue to confirm the Tower MRE block model. We now have collected all the data from our 2023 infill drilling program.”
Infill Drilling at 55 Zone, Westaway, and Windjammer North
The 55 Zone, Westaway and Windjammer North Deposits are located on the Golden Highway Area (western end) of the Tower Gold Project in Timmins, Ontario (See Figure 1 for the Tower Gold Project – General Location Map). Mineralization at the 55 Zone is associated with the Timiskaming age clastic sediment hosted stacked quartz veins located immediately south of the regional Banded Iron Formation “A” (“BIF A”) unit and the Destor Porcupine Fault Zone (“DPFZ”). The 55 Zone Deposit is characterized by higher-grade, open-pit mineralization located in the western most portion of the Tower Gold Project. The mineralization at the 55 Zone remains open along strike to the southwest. Mineralization at Westaway is associated with extensional and stockwork-type quartz veining within Timiskaming age meta-sediments, located between 2 major splays of the DPFZ. Mineralization at Windjammer North, located immediately south of and parallel to the regional DPFZ, is hosted primarily within altered komatiitic ultramafic rocks of the Kidd-Munro assemblage in contact with basaltic flows.
The 2023 drill program at 55 Zone, Westaway and Windjammer North were focused on confirming and infilling (50 m drill-centre spacings) the Tower Gold Project Mineral Resource Estimate1 (“Tower MRE”). The results at the 55 Zone provided information that allows the Company to update the Tower MRE block model. Drill hole MGH23-500 (See Figures 2, 3, and 4) returned higher-grade mineralization at depth of the deposit, while drill holes MGH23-464 and MGH23-466 (See Figures 2 and 3) returned higher-grade mineralization closer to the surface.
The drilling results at Westaway and Windjammer North appear to confirm the continuity of mineralization as estimated by the Tower MRE block model. This is evident particularly with holes MGH23-436, MGH23-438 and MGH3-488. Overall, the 2023 infill drilling program will provide critical information to update the Tower MRE. The increased drill density has the potential to upgrade the areas drilled to a higher resource category and further define future geological models.
Table 2: Tower Gold – 55 Zone, Westaway, and Windjammer North: Drill Intercepts
| Zone | Hole Number | From (m) | To (m) | Interval (m) | Grade (g/t Au) |
Metal Factor |
| 55 Zone | MGH23-371 | 38.85 | 49.25 | 10.40 | 2.23 | 23.19 |
| 55 Zone | and | 61.60 | 64.45 | 2.85 | 0.29 | 0.83 |
| 55 Zone | and | 105.00 | 174.50 | 69.50 | 0.61 | 42.40 |
| 55 Zone | including | 173.50 | 174.50 | 1.00 | 14.50 | 14.50 |
| 55 Zone | and | 224.50 | 226.50 | 2.00 | 2.42 | 4.84 |
| 55 Zone | and | 241.50 | 243.00 | 1.50 | 1.91 | 2.87 |
| 55 Zone | and | 280.00 | 286.00 | 6.00 | 0.92 | 5.52 |
| 55 Zone | MGH23-381 | 38.00 | 49.40 | 11.40 | 1.05 | 11.97 |
| 55 Zone | and | 58.98 | 60.00 | 1.02 | 1.35 | 1.38 |
| 55 Zone | and | 106.00 | 108.00 | 2.00 | 0.61 | 1.22 |
| 55 Zone | and | 119.00 | 124.50 | 5.50 | 0.47 | 2.59 |
| 55 Zone | and | 129.00 | 172.00 | 43.00 | 0.88 | 37.84 |
| 55 Zone | including | 146.00 | 163.00 | 17.00 | 1.45 | 24.65 |
| 55 Zone | and | 182.00 | 184.00 | 2.00 | 0.57 | 1.14 |
| 55 Zone | and | 186.00 | 191.02 | 5.02 | 0.61 | 3.06 |
| 55 Zone | and | 221.00 | 225.20 | 4.20 | 0.87 | 3.65 |
| 55 Zone | and | 237.00 | 238.00 | 1.00 | 2.28 | 2.28 |
| 55 Zone | MGH23-389 | 34.00 | 40.65 | 6.65 | 1.03 | 6.85 |
| 55 Zone | MGH23-394 | 59.00 | 66.00 | 7.00 | 0.46 | 3.22 |
| 55 Zone | and | 104.00 | 114.30 | 10.30 | 0.46 | 4.74 |
| 55 Zone | and | 126.00 | 128.00 | 2.00 | 1.73 | 3.46 |
| 55 Zone | and | 137.00 | 141.00 | 4.00 | 0.69 | 2.76 |
| 55 Zone | and | 158.00 | 160.00 | 2.00 | 1.82 | 3.64 |
| 55 Zone | and | 173.00 | 176.00 | 3.00 | 0.67 | 2.01 |
| 55 Zone | MGH23-399 | 92.00 | 106.00 | 14.00 | 0.58 | 8.12 |
| 55 Zone | MGH23-439 | 111.00 | 117.00 | 6.00 | 0.44 | 2.64 |
| 55 Zone | and | 146.00 | 147.00 | 1.00 | 1.04 | 1.04 |
| 55 Zone | MGH23-442 | 48.00 | 60.00 | 12.00 | 1.11 | 13.32 |
| 55 Zone | and | 95.00 | 97.00 | 2.00 | 1.92 | 3.84 |
| 55 Zone | and | 174.00 | 206.00 | 32.00 | 0.90 | 28.80 |
| 55 Zone | MGH23-447 | 63.00 | 68.00 | 5.00 | 0.54 | 2.70 |
| 55 Zone | and | 76.00 | 82.00 | 6.00 | 0.46 | 2.76 |
| 55 Zone | and | 124.00 | 152.00 | 28.00 | 0.99 | 27.72 |
| 55 Zone | MGH23-451 | 68.00 | 70.00 | 2.00 | 0.91 | 1.82 |
| 55 Zone | MGH23-452 | 92.00 | 98.00 | 6.00 | 0.46 | 2.76 |
| 55 Zone | MGH23-453 | 72.00 | 76.00 | 4.00 | 0.76 | 3.04 |
| 55 Zone | and | 118.00 | 120.00 | 2.00 | 1.13 | 2.26 |
| 55 Zone | and | 132.00 | 138.00 | 6.00 | 1.29 | 7.74 |
| 55 Zone | MGH23-457 | 75.00 | 81.00 | 6.00 | 1.22 | 7.32 |
| 55 Zone | MGH23-459 | 61.15 | 64.20 | 3.05 | 1.34 | 4.09 |
| 55 Zone | and | 77.25 | 79.00 | 1.75 | 5.52 | 9.66 |
| 55 Zone | MGH23-461 | 44.15 | 47.90 | 3.75 | 4.74 | 17.78 |
| 55 Zone | and | 77.50 | 82.60 | 5.10 | 2.31 | 11.78 |
| 55 Zone | MGH23-462 | No Significant Intervals | ||||
| 55 Zone | MGH23-464 | 49.00 | 63.50 | 14.50 | 2.13 | 30.89 |
| 55 Zone | including | 49.00 | 54.80 | 5.80 | 4.48 | 25.98 |
| 55 Zone | MGH23-466 | 45.00 | 55.00 | 10.00 | 2.54 | 25.40 |
| 55 Zone | including | 50.65 | 53.10 | 2.45 | 8.01 | 19.62 |
| 55 Zone | and | 85.50 | 89.00 | 3.50 | 0.77 | 2.70 |
| 55 Zone | MGH23-491 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 55 Zone | MGH23-497 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 55 Zone | MGH23-498 | 28.00 | 38.00 | 10.00 | 0.45 | 4.50 |
| 55 Zone | and | 52.00 | 61.00 | 9.00 | 1.06 | 9.54 |
| 55 Zone | and | 118.00 | 123.00 | 5.00 | 0.71 | 3.55 |
| 55 Zone | and | 133.00 | 137.00 | 4.00 | 0.47 | 1.88 |
| 55 Zone | and | 236.00 | 250.00 | 14.00 | 0.42 | 5.88 |
| 55 Zone | and | 319.00 | 323.00 | 4.00 | 0.97 | 3.88 |
| 55 Zone | MGH23-499 | 23.00 | 26.00 | 3.00 | 0.63 | 1.89 |
| 55 Zone | and | 44.60 | 46.00 | 1.40 | 1.38 | 1.93 |
| 55 Zone | and | 73.45 | 79.00 | 5.55 | 0.64 | 3.55 |
| 55 Zone | and | 130.00 | 141.90 | 11.90 | 1.41 | 16.78 |
| 55 Zone | and | 167.00 | 173.00 | 6.00 | 0.76 | 4.56 |
| 55 Zone | and | 189.35 | 199.75 | 10.40 | 1.37 | 14.25 |
| 55 Zone | and | 217.93 | 219.00 | 1.07 | 1.53 | 1.64 |
| 55 Zone | MGH23-500 | 45.00 | 48.10 | 3.10 | 2.81 | 8.71 |
| 55 Zone | and | 87.00 | 89.00 | 2.00 | 1.82 | 3.64 |
| 55 Zone | and | 97.93 | 99.36 | 1.43 | 1.64 | 2.35 |
| 55 Zone | and | 137.35 | 149.00 | 11.65 | 1.03 | 12.00 |
| 55 Zone | and | 170.00 | 172.00 | 2.00 | 2.66 | 5.32 |
| 55 Zone | and | 182.00 | 198.00 | 16.00 | 2.49 | 39.84 |
| 55 Zone | including | 194.00 | 196.00 | 2.00 | 17.15 | 34.30 |
| 55 Zone | and | 224.00 | 238.00 | 14.00 | 0.89 | 12.46 |
| 55 Zone | and | 261.00 | 263.00 | 2.00 | 1.47 | 2.94 |
| Windjammer North (WJN) | MGH23-347 | 51.00 | 107.00 | 56.00 | 0.57 | 31.92 |
| Windjammer North (WJN) | including | 51.00 | 63.00 | 12.00 | 1.09 | 13.08 |
| Windjammer North (WJN) | MGH23-348 | 42.60 | 106.15 | 63.55 | 0.77 | 48.93 |
| Windjammer North (WJN) | MGH23-488 | 30.00 | 141.72 | 111.72 | 0.74 | 82.67 |
| Windjammer North (WJN) | including | 106.00 | 132.00 | 26.00 | 1.01 | 26.26 |
| Westaway | MGH23-436 | 161.50 | 196.45 | 34.95 | 0.61 | 21.32 |
| Westaway | including | 174.42 | 181.75 | 7.33 | 1.46 | 10.70 |
| Westaway | MGH23-438 | 267.00 | 282.60 | 15.60 | 4.32 | 67.39 |
| Westaway | including | 267.00 | 275.00 | 8.00 | 6.63 | 53.04 |
| Westaway | MGH23-445 | 107.00 | 109.00 | 2.00 | 3.70 | 7.40 |
| Westaway | and | 127.00 | 130.00 | 3.00 | 2.27 | 6.81 |
| Westaway | and | 146.00 | 154.00 | 8.00 | 0.42 | 3.36 |
| Westaway | and | 225.00 | 229.00 | 4.00 | 2.08 | 8.32 |
| Westaway | MGH23-448 | No Significant Intervals | ||||
| Westaway | MGH23-492 | Geomechanical | ||||
| Westaway | MGH23-495 | Metallurgical | ||||
| Westaway | MGH23-496 | |||||
| Westaway | MGH23-496A | |||||
| Westaway | MGH23-496B | |||||
| Westaway | MGH23-501 | 165.00 | 169.00 | 4.00 | 1.31 | 5.24 |
| Westaway | and | 179.00 | 183.00 | 4.00 | 1.99 | 7.96 |
| Westaway | MGH23-502 | No Significant Intervals | ||||
| Note: All intercepts are calculated using a 0.30 g/t Au cut-off, a maximum of 5m internal dilution and no top cap applied. Drill intercepts are not true widths. Failed holes, Geomechanical and Geometallurgical drill holes are not shown in the section because they were not assayed. | ||||||
Table 3: Tower Gold – 55 Zone and Westway: Infill Drill Hole Details
| Zone | Hole Number | Easting | Northing | Elevation | Azimuth | Inclination | End of Hole Depth (m) |
| 55 Zone | MGH23-371 | 569208.042 | 5368884.268 | 319.815 | 159.91 | -58.02 | 291.0 |
| 55 Zone | MGH23-381 | 569208.136 | 5368884.282 | 319.939 | 160.17 | -53 | 270.0 |
| 55 Zone | MGH23-389 | 569164.78 | 5368767.11 | 318.74 | 160.05 | -54.84 | 75.0 |
| 55 Zone | MGH23-394 | 569131.995 | 5368818.866 | 319.237 | 160.02 | -60.09 | 180.0 |
| 55 Zone | MGH23-399 | 568992.11 | 5368743.138 | 319.339 | 160.14 | -55.14 | 126.0 |
| 55 Zone | MGH23-439 | 569386.54 | 5368959.449 | 319.809 | 159.98 | -56.12 | 162.0 |
| 55 Zone | MGH23-442 | 569370.275 | 5368921.703 | 319.184 | 159.94 | -56.2 | 213.0 |
| 55 Zone | MGH23-447 | 569343.033 | 5368878.504 | 318.485 | 160.05 | -55.99 | 180.0 |
| 55 Zone | MGH23-451 | 569380.783 | 5368827.161 | 318.731 | 159.9 | -56.02 | 111.0 |
| 55 Zone | MGH23-452 | 569431.476 | 5368936.017 | 319.536 | 160.09 | -56.07 | 111.0 |
| 55 Zone | MGH23-453 | 569460.627 | 5368912.047 | 319.311 | 158.07 | -56.09 | 150.0 |
| 55 Zone | MGH23-457 | 569456.068 | 5368823.559 | 321.233 | 160.1 | -56.05 | 102.0 |
| 55 Zone | MGH23-459 | 569494.598 | 5368814.063 | 319.886 | 160.01 | -55.19 | 111.0 |
| 55 Zone | MGH23-461 | 569478.538 | 5368865.932 | 319.302 | 160.02 | -56.06 | 132.0 |
| 55 Zone | MGH23-462 | 569549.823 | 5368839.616 | 319.823 | 160.01 | -55 | 90.0 |
| 55 Zone | MGH23-464 | 569538.405 | 5368862.401 | 319.787 | 160.07 | -55.11 | 102.0 |
| 55 Zone | MGH23-466 | 569509.29 | 5368849.081 | 319.738 | 160.01 | -55.15 | 102.0 |
| 55 Zone | MGH23-491 | 569345.23 | 5368850.092 | 318.884 | 0.03 | -75.03 | 180.0 |
| 55 Zone | MGH23-499 | 569254.614 | 5368886.9 | 319.6 | 160.14 | -56.06 | 270.0 |
| 55 Zone | MGH23-500 | 569160.087 | 5368871.18 | 319.66 | 160.05 | -56 | 282.0 |
| WJN | MGH23-347 | 572229.651 | 5370872.207 | 330.959 | 75.12 | -61.05 | 111.0 |
| WJN | MGH23-348 | 572142.769 | 5370902.802 | 329.966 | 75.27 | -61.20 | 150.0 |
| WJN | MGH23-488 | 572082.818 | 5370840.501 | 329.526 | 75.03 | -60.15 | 162.0 |
| Westaway | MGH23-436 | 570133.596 | 5369021.564 | 324.801 | 59 | -58.13 | 270.0 |
| Westaway | MGH23-438 | 570186.295 | 5369025.76 | 321.394 | 59.05 | -57.13 | 321.0 |
| Westaway | MGH23-445 | 570142.832 | 5368980.686 | 320.739 | 59.07 | -59.1 | 282.0 |
| Westaway | MGH23-448 | 570292.983 | 5369173.108 | 322.012 | 59.95 | -59.02 | 180.0 |
| Westaway | MGH23-492 | 570276.384 | 5369143.453 | 322.033 | 290.08 | -74.95 | 261.1 |
| Westaway | MGH23-495 | 570225.42 | 5369148.574 | 327.02 | 50.08 | -60.03 | 162.0 |
Quality Control Procedures
NQ drill core is oriented and cut with half sent to ALS Laboratories Inc. (ALS) for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). ALS is an ISO 17025 accredited laboratory. A 50 g charge is Fire Assayed and analyzed using an AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. STLLR inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates, as well as completing routine third-party check assays at Bureau Veritas Commodities Canada Ltd.
Qualified Person
John McBride, MSc., P.Geo., Vice President of Exploration for STLLR, who is the “Qualified Person” as defined by NI 43-101 for this project, has reviewed and approved of the technical disclosure contained in this news release.
About STLLR Gold
STLLR Gold Inc. (TSX: STLR; OTCQX: STLRF; FSE: O9D) is a Canadian gold development company actively advancing two cornerstone gold projects in Canada: The Tower Gold Project in the Timmins Mining Camp in Ontario and the Colomac Gold Project located north of Yellowknife, Northwest Territories. Each of these two projects has the potential for a long-life and large-scale operation and are surrounded by exploration land with favorable upside potential. STLLR’s experienced management team, with a track record of successfully advancing projects and operating mines, is working towards rapidly advancing these projects.
Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to confirmation of the Tower MRE block model, potential expansion of the known mineralization at the Tower Gold Project, the timing of the release of the assay results, the goals, synergies, strategies, opportunities, profile, mineral resources and potential production, project timelines, prospective shareholding, integration and comparables to other transactions, the future financial or operating performance of STLLR and STLLR’s mineral properties and project portfolios, the advancement of the Tower Gold and Colomac Gold Projects, long-life and large-scale potential of the Tower and Colomac Gold Projects and exploration upside of the land packages. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “accelerate”, “add” or “additional”, “advancing”, “anticipates” or “does not anticipate”, “appears”, “believes”, “can be”, “conceptual”, “confidence”, “continue”, “convert” or “conversion”, “deliver”, “demonstrating”, “estimates”, “encouraging”, “expand” or “expanding” or “expansion”, “expect” or “expectations”, “fast-track”, “forecasts”, “forward”, “goal”, “improves”, “increase”, “intends”, “justification”, “leading”, “plans”, “potential” or “potentially”, “pro-forma”, “promise”, “prospective”, “prioritize”, “reflects”, “re-rating”, “robust”, “scheduled”, “stronger”, “suggesting” or “suggests”, “support”, “updating”, “upside”, “will be” or “will consider”, “work towards”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”.
Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of STLLR to be materially different from those expressed or implied by such forward-looking information, including risks associated with required regulatory approvals, the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current exploration activities, government regulation, political or economic developments, the ongoing wars and their effect on supply chains, environmental risks, COVID-19 and other pandemic risks, permitting timelines, capex, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in the joint management information circular of STLLR dated December 20, 2023, available on www.sedarplus.ca. Although STLLR has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. STLLR does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
____________________________________
1 For more information on the Tower MRE and Tower PEA effective as of September 7, 2022, please refer to the NI 43-101 technical report titled “NI 43-101 Report & Preliminary Economic Assessment of the Tower Gold Project Northeastern Ontario, Canada” dated November 29, 2022, which is available on STLLR Gold’s profile on SEDAR+ www.sedarplus.ca and www.stllrgold.com
Contacts
STLLR Gold Investor Relations
+1 (416) 863-2105 | investors@stllrgold.com | www.STLLRgold.com
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