Golden Birch Outlines Recent Discovery at Keveri Project, called “Waki” Waki Located 1 km East of Omu

Waki Exhibits Characteristics of Tier 1 Porphyry Cu-Au Deposit

Waki Discovery Yields Anomalous Cu and Au in Multiple Outcrops

Assay Values from Separate Outcrops Yield Up to 4.9% Cu & 15.5 g/t Au

Exploration at Waki at an Early Stage and Results Not Representative

TIMMINS, ONTARIO / ACCESSWIRE / March 25, 2020 / Golden Birch Resources Inc. (CSE:GBRX) (“Golden Birch” or the “Company”) is pleased to provide detailed information on its recently discovered Waki Prospect (called “Waki”) located east of the Omu Prospect.

Highlights:

  • Initial discovery of the Waki Prospect made by Golden Birch geologists in May 2019
  • Reconnaissance exploration by Golden Birch geologists yields visual copper mineralisation in float and outcrop 1 kilometre (“km”) east of Omu Prospect
  • Exploration results yield anomalous copper and gold, with best results to date from separate outcrops being 0.34% Cu and 15.5 g/t Au and 4.9% Cu and 0.05 g/t Au
  • Assay values from selective rock float samples in drainages associated with Waki Prospect area yields values as high as 6.8% Cu and 15.45 g/t Au from separate samples
  • Exploration at Waki is at an early stage and assay values from in situ outcrop and float samples are selective in nature and therefore not representative of the overall target at Waki. Further work is required before a representative grade for copper and gold can be determined for the Waki Prospect
  • Waki Prospect has yielded anomalous copper and gold mineralisation in multiple in situ outcrops and selective float samples over an area of approximately 1.0 km north-south by 0.8 to 1.0 km east-west
  • Wide spaced, reconnaissance soil survey yields anomalous and coincident copper (Cu), gold (Au) and molybdenum (Mo) values over a 400 metre (“m”) to 600 m north-south by 800 m to 1000 m east-west area
  • The Cu-Au-Mo anomalies are coincident with an airborne magnetic “high” anomaly

Alan Martin, President of Golden Birch states, “I am excited that our exploration team discovered a new prospect in our 2019 exploration program which has the potential to deliver new drill targets at the Keveri Project. When we signed the option agreement with the vendor in 2018, there was no geological information on the Waki Prospect. A common feature for some porphyry copper deposits is that they occur in clusters. It is exciting for the Keveri Project to now host two prospects being Omu and Waki with characteristics of Tier-1 porphyry copper – gold deposits”.

Exploration Completed at Waki
Geological Mapping:

In April 2019, an altered and mineralised rock float sample was discovered by a Golden Birch geologist east of Waki creek. The rock float yielded a value of 3.88% Cu, 0.049 g/t Au and 4.7 g/t Ag (Photo 1). Subsequent to this initial discovery, reconnaissance geological prospecting and mapping was carried out east of Waki creek to trace the source of the mineralized rock float. This initial prospecting work revealed copper mineralization, both in rock floats and outcrops, hosted mostly in intrusive rocks. As a result, a program of detailed geological mapping was initiated at Waki Prospect.

The Waki Prospect is located approximately 1000 m east of the Omu Prospect (Figure 1). An initial 1:5000 scale geologic mapping program was completed at the Waki Prospect which generated geological data and interpretive maps. This work was followed up by a more detailed 1:1000 geologic mapping program from late April to June 2019. Additional 1:1000 scale geologic mapping is warranted at the Waki Prospect.

Figure 1: Copper-gold targets within the Keveri Project being explored by Golden Birch. The recently discovered Waki prospect by Golden Birch geologists is located approximately 1000 m east of the flagship Omu Prospect.

A total of 71 rock samples were obtained from the Waki Prospect for analytical and petrological investigations during the initial geologic mapping campaign. Geologic mapping to date at the Waki Prospect has confirmed strongly fractured porphyry-style intrusive rocks, hydrothermal alteration as characterised by porphyry deposits being chlorite, epidote and secondary hydrothermal magnetite with phyllic (quartz+sericite+pyrite) overprint. Some of the samples from creeks and outcrops display visible supergene-hypogene copper mineralization (chalcopyrite and malachite).

Results of the geological mapping are illustrated in Figure 2. Below are photos of select rock samples from in situ outcrop and float samples collected from the Waki Prospect by the Company. The location of these samples are illustrated in Appendix 1.

Photo 1: Selective rock float sample of oxidized and brecciated dioritic intrusive rock with finely disseminated pyrite + chalcopyrite and strong malachite coatings.

Photo 2: Selective rock sample from an outcrop of quartz veins hosted by chlorite + sericite microdiorite with pyrite and chalcopyrite mineralization.

Photo 3: Selective rock float sample of brecciated quartz vein with fragments of diorite and fine disseminations of pyrite, chalcopyrite and (very fine-grained) molybdenite.

Photo 4: Selective rock float sample of gossanous quartz vein with abundant chalcopyrite hosted in chlorite -sericite – silica altered diorite.

Photo 5: Selective rock float sample of brecciated gossanous chlorite + sericite altered diorite with disseminations and blebs of chalcopyrite.

Photo 6: Selective rock float sample of quartz vein breccia with coarse chalcopyrite blebs and malachite coatings hosted in fine-grained chlorite – sericite altered basalt.

Photo 7: Selective rock sample from in situ outcrop of quartz vein hosted by chlorite + magnetite altered diorite. Finely disseminated pyrite and chalcopyrite.

Photo 8: Selective rock sample from in situ outcrop of quartz – epidote – chalcopyrite vein hosted by clay – chlorite – sericite -hematite altered diorite. Fine chalcopyrite and pyrite.

Photo 9: Selective rock sample from in situ outcrop of quartz – epidote – chalcopyrite vein hosted by clay – chlorite – sericite altered diorite with malachite coatings.

Photo 10: Selective rock float sample of microdiorite with malachite present as surface coatings and in fractures that also contain fine chalcopyrite.

The following descriptions are for rock samples as illustrated by Photos No. 1-10 above, and for a further 10 rock samples below all of which are located on the map in Appendix 1:

  • Photo 1 (109014): Selective rock float sample of oxidized and brecciated dioritic intrusive rock with finely disseminated pyrite + chalcopyrite and strong malachite coatings
  • Photo 2 (109080): Selective rock sample from an outcrop of quartz veins hosted by chlorite + sericite microdiorite with pyrite and chalcopyrite mineralization
  • Photo 3 (109257): Selective rock float sample of brecciated quartz vein with fragments of diorite and fine disseminations of pyrite, chalcopyrite and (very fine-grained) molybdenite
  • Photo 4 (109260): Selective rock float sample of gossanous quartz vein with abundant chalcopyrite hosted in chlorite -sericite – silica altered diorite
  • Photo 5 (109265): Selective rock float sample of brecciated gossanous chlorite + sericite altered diorite with disseminations and blebs of chalcopyrite
  • Photo 6 (109269): Selective rock float sample of quartz vein breccia with coarse chalcopyrite blebs and malachite coatings hosted in fine-grained chlorite – sericite altered basalt
  • Photo 7 (109272): Selective rock sample from in situ outcrop of quartz vein hosted by chlorite + magnetite altered diorite. Finely disseminated pyrite and chalcopyrite
  • Photo 8 (109019): Selective rock sample from in situ outcrop of quartz – epidote – chalcopyrite vein hosted by clay – chlorite – sericite -hematite altered diorite. Fine chalcopyrite and pyrite
  • Photo 9 (109020): Selective rock sample from in situ outcrop of quartz – epidote – chalcopyrite vein hosted by clay – chlorite – sericite altered diorite with malachite coatings
  • Photo 10 (109054): Selective rock float sample of microdiorite with malachite present as surface coatings and in fractures that also contain fine chalcopyrite
  • 109053: Selective rock float sample of strongly oxidized microdiorite with 10-15% disseminated pyrite and rare chalcopyrite
  • 109072: Selective rock sample from outcrop of quartz + epidote with disseminations of fine pyrite + chalcopyrite hosted in chlorite – altered diorite
  • 109261: Selective rock float sample of gossanous quartz-sulphide veining and pyrite + chalcopyrite disseminations hosted by chlorite + sericite diorite
  • 109263: Selective rock sample from outcrop of gossanous quartz vein with pyrite + chalcopyrite disseminations hosted by chlorite + sericite + epidote diorite
  • 109264: Selective rock float sample of brecciated gossanous quartz vein with strong chalcopyrite disseminations hosted by chlorite + sericite altered microdiorite
  • 109268: Selective rock sample from outcrop of weak chlorite – altered fine-grained intrusive with disseminated sulphides
  • 109270: Selective rock sample from outcrop of quartz + pyrite + chalcopyrite in chlorite – magnetite – sericite altered diorite
  • 109274: Selective rock float sample of quartz breccia vein with pyrite + chalcopyrite in diorite
  • 109277: Selective rock sample from a sub-crop of carbonate vein breccia hosted by chlorite + sericite + magnetite altered diorite with disseminated pyrite
  • 109278: Selected rock sample from an outcrop of strong chlorite + sericite + magnetite altered diorite with disseminated pyrite

Geochemical Sampling:

A wide-spaced, grid-based soil sampling survey was carried out using a hand auger drill at the Waki Prospect in June 2019 concurrent with the reconnaissance geological mapping program. The soil sampling program consisted of a grid with line spacing of 200 m and soil samples collected at 100 m intervals along these lines. Additional infill sampling to provide more detail between these lines may be carried out as follow-up exploration. Further soil sampling may be carried out southeast to cover areas with dioritic intrusive rocks and numerous mineralized copper rock floats in creeks. A total of 92 soil samples were collected during the soil sampling program. The geochemical results at Waki yielded an approximate footprint being 1000 m x 750 m with values of 140 to 212 ppm Cu, 7 to 17 ppb Au and 0.2-1.01 ppm Mo. The Cu and Au values are both coincident in the mapped diorite-basalt and limestone lithologies. These values are also coincident with favourable mapped intrusions strongly associated with porphyry-style hydrothermal alteration, supergene and hypogene copper mineralization and the presence of an airborne magnetic (“high”) anomaly.

Figure 1 above illustrates the copper, gold and molybdenum values in soil samples collected from Waki Prospect and their coincidence with the airborne magnetic anomaly as depicted by the 25 m relative level (“RL“) contour.

Figure 2: Summary of Waki Prospect Map with Geological Mapping (illustrating areas of alteration), soil geochemical sampling and selective rock chip sampling from both in situ outcrop and float samples.

Geophysical Interpretation of Airborne Magnetic Survey

In November 2010, an airborne magnetic survey was carried out for Papuan Precious Metals (“PPM“) by Fugro Airborne Surveys Pty Ltd (“Fugro“), with 200 m line spacing and 60 m flight height. A number of total magnetic intensity (“TMI“) anomalies were revealed during this survey. One such anomaly is at the Waki Prospect, as illustrated by the stacked images in Figures 2 and 3. Waki creek is at an elevation of approximately 625 m RL while the top of Waki ridge is at approximately 825 m RL. The stacked images illustrate the Waki Prospect airborne magnetic anomaly at a range of elevations from 525 m RL (approximately 100 m below the Waki creek) to at least 600 m below the surface of Waki creek in the 25 m RL in Figure 3.

Figure 3: Stacked images of airborne magnetic survey (completed by Fugro for PPM) with orange contour illustrating Waki Prospect airborne magnetic anomaly at 25 m RL which is approximately 800 m below the top of the ridge at Waki Prospect. Note that PPM does not have any interest in the option agreement between the Company and Papuan Minerals Pty Ltd (the “Vendor”) dated August 24, 2018 or the exploration licenses that make up the Keveri Project.

Figure 4: Stacked images of airborne magnetic survey (completed by Fugro in 2010) with orange contour illustrating Waki airborne magnetic anomaly at 25 m RL superimposed at different depths.

Figure 5: The airborne magnetic “high” anomaly at approximately 25m RL and the location of the Cu-Au and Mo soil anomalies and the location of the rock samples collected from outcrop and float. Note that the airborne magnetic image is at an RL of 25 m, indicating that its depth at this level is approximately 600 m below the surface at Waki creek. This demonstrates the large target potential at Waki Prospect.

Forward Exploration Program Planned for Waki Prospect

Future exploration at the Waki Prospect is designed to carry out the following exploration:

  1. Continue detailed geologic mapping to identify areas of alteration and areas of mineralisation
  2. In-fill soil sampling at 100 m line spacing and continue soil sampling to the southeast to cover anomalies that are not fully closed off
  3. Additional collection of rock samples both from outcrop and float.
  4. Petrological investigation of selective rock samples
  5. Geophysical surveys; ground magnetic surveying to enhance the historic airborne magnetic data. Subject to the results of ground magnetic data and alteration mapping an induced polarization (“IP“) survey may be warranted. The acquired data will aid in the compilation of 3-D geophysical models to assist with future drill hole targeting.
  6. Identify suitable drill targets

Qualified Person

Mr. Ian Taylor, MAusIMM(CP), a consultant to the Company, and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has approved the applicable contents of this news release.

About Golden Birch Resources Inc.

Golden Birch Resources Inc. is a mineral exploration company focused on acquiring, exploring, and developing quality mineral properties in Papua New Guinea. Core values for the Company are respect for the Community, the Landowners, the environment and operating a safe workplace for its employees. The Company is also committed to best practise standards of Corporate Governance.

For further information please visit the Company’s website at www.goldenbirchresources.ca or contact:

Golden Birch Resources
Iain Martin, Chief Administrative Officer (CAO)
& Executive Director

Yellow Jersey PR Limited
Sarah Hollins
Henry Wilkinson
Emma Becirovic

Tel: +1 (0) 705 288 0249
martiniainr@gmail.com

Tel: +44 (0) 20 3004 9512
goldenbirch@yellowjerseypr.com

Forward-Looking Statements

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. Such statements reflect the Company’s present views, future plans, objective or goals, including words to the effect that the Company or management expects a stated condition or result to occur. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Many risks, uncertainties, and other factors involved with forward-looking information could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities.

Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, such actual results of current exploration programs, the general risks associated with the mining industry, the price of copper, gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, , uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Appendix 1: Selected Rock Samples, Waki Prospect

Figure 6: Waki Prospect with selected rock samples from in situ outcrop and float samples. Given the early stage of the Waki Prospect, these rock sample results represent only selected sampling and are therefore not representative of the entire Waki Prospect. Further exploration work is required included drilling before a representative grade of copper and gold can be determined for the Waki Prospect.

Table 1: Waki Rock Samples with Cu and Au Values

Sample (#)

UTM_East

UTM_North

Type

Cu (%)

Au (g/t)

109013

699214

8904156

Outcrop

1.02

0.02

109014

699191

8904138

Float

3.88

0.05

109019

699831

8903835

Outcrop

1.39

0.01

109020

699832

8903837

Outcrop

1.20

0.01

109053

699683

8903959

Float

0.00

0.47

109054

699111

8904144

Float

1.32

0.01

109072

700355

8903402

Outcrop

0.16

0.46

109080

700589

8903583

Outcrop

0.34

15.5

109252

700635

8903403

Outcrop

4.91

0.05

109253

700636

8903417

Float

0.428

0.005

109257

700246

8903287

Float

0.82

15.45

109259

700660

8903392

Float

3.23

1.25

109260

700711

8903414

Float

3.39

1.35

109261

700728

8903407

Float

0.88

0.01

109262

700788

8903399

Float

0.945

0.021

109263

700794

8903405

Outcrop

0.21

0.007

109264

700800

8903410

Float

3.87

0.14

109265

700887

8903433

Float

6.81

0.34

109268

700925

8903398

Outcrop

0.03

0.31

109269

701044

8903400

Float

1.85

0.61

109270

700807

8903408

Outcrop

0.167

0.026

109271

700801

8903409

Outcrop

0.053

0.008

109272

700836

8903431

Outcrop

0.414

0.027

109274

700726

8903586

Float

0.4

0.079

109277

700625

8903568

Subcrop

0.022

0.008

109278

700619

8903566

Outcrop

0.051

0.017

Figure 7: Stacked geophysical images with the data sourced from the airborne geophysical survey carried out by Fugro in late 2010. Orange contour is the airborne magnetic image as it appears at an RL of 25 m depth being a depth of approximately 600 metres below the surface at Waki creek.

SOURCE: Golden Birch Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/582446/Golden-Birch-Outlines-Recent-Discovery-at-Keveri-Project-called-Waki-Waki-Located-1-km-East-of-Omu

error: Content is protected !!