VANCOUVER, British Columbia, Aug. 20, 2019 (GLOBE NEWSWIRE) -- Michelin Mining Corporation (“Michelin” or the “Company”) (CSE: MICH) is pleased to announce assay results from its recently completed three-hole reverse circulation (“RC”) drill program at its Rude Creek Gold Project (“Rude Creek” or “Project”), located within the White Gold District, Yukon Territory.


Highlights:


  • Hole ROYRC-19-09 intersected 9.15 metres of 1.42 grams/tonne (g/t) gold, including 3.05 metres of 3.75 g/t gold
  • Mineralization is shallow (the wider intercept starts at 41.46 metres downhole or about 36 metres vertically from surface)
  • Gold mineralization was encountered in all three drill holes
  • These results represent the first-ever drilling at the Northeast soil anomaly and the best drill results to date on the Rude Creek property
  • The Northeast soil anomaly is open along trend and down dip
  • Follow-up work at Rude Creek is warranted, including infill and expansion soil sampling, IP/resistivity surveys and further drilling


President and CEO Mark T. Brown stated, “We are encouraged by this early success with Michelin’s first drill program at Rude Creek. The presence of shallow but moderate-grade gold mineralization bodes well for the previously undrilled NE Zone at Rude Creek.”


Details on Drill Results


The Rude Creek Gold Project, is located within Yukon’s Dawson Range gold district, 45 kilometres southeast of Newmont Goldcorp’s Coffee orogenic type gold deposit, 80 kilometres southeast of the recent Vertigo discovery and 72 km southeast of the Golden Saddle deposit, both orogenic type gold systems owned by White Gold Corp. The Casino copper-gold-molybdenum porphyry deposit (different deposit type) is located 5 km from Rude Creek. The Project is comprised of 204 quartz claims.


The work program at Rude Creek was concentrated at the Northeast Anomaly, where multiple anomalous gold-in-soil trends were previously identified, along with anomalous pathfinder elements such as arsenic and bismuth (see attached image).


A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/b1313434-eb9e-4750-bb84-407d2cb39d71


The table below lists significant assays from the 2019 drill program.


 Hole From (m)To (m)Interval (m)Gold (g/t)
 ROYRC-19-09 6.407.931.530.54
   41.4650.619.151.42
 including 44.5147.563.053.75
 including 46.0447.561.524.25
       
 ROYRC-19-10 25.0026.521.520.22
       
 ROYRC-19-11 57.0058.541.520.66


True thicknesses are not known at this time.  RC drill holes are sampled in 1.5 metre intervals, which may not coincide with the mineralized thicknesses.


Holes ROYRC-19-09 and ROYRC-19-10 were drilled from the same pad with azimuths of 81° and 261° and dips of -60° and -70° respectively. Hole ROYRC-19-11 was drilled approximately 800 metres to the east with an azimuth of 81° and dip of -60°. Each of the three RC holes was drilled to a depth of approximately 100 metres downhole. A plan map of the holes is shown in the attached image.


Drill holes primarily intersected granodiorite. The mineralized interval in hole ROYRC-19-09 was characterized by observed limonite (hydrated iron oxide) and elevated levels of pyrite (iron sulphide). Gold in this interval was correlated with elevated arsenic (478 ppm As) and bismuth (283 ppm Bi).


Management is reviewing the results and will determine next steps for the Rude Creek Gold Project.


Quality Assurance / Quality Control


Mineralized intervals were analysed by Bureau Veritas Minerals. Sample preparation was completed in Whitehorse, YT and analyses were conducted in Vancouver, BC.  All samples were assayed for gold content using fire assay techniques (FA430) with a 30 gram sample and multiple path finder elements (AQ200). An industry standard quality assurance/quality control (QA/QC) program consisting of the insertion of certified standards, blanks and duplicates into the sample stream was used.


The technical information in this news release was prepared under the supervision of Marc G. Blythe, P. Eng, who is a Qualified Person as defined by NI 43-101. Mr. Blythe is a director of the Company.


About Michelin Mining Corp.


Michelin Mining Corp. is a junior natural resource company engaged in the acquisition and exploration of mineral properties of merit and currently focused on exploring its Rude Creek gold property in the Yukon.


Contact Information


For more information, please contact:


Michelin Mining Corp.
Mark T. Brown
Chief Executive Officer
Suite 410, 325 Howe Street
Vancouver, BC
V6C 1Z7


Tel: 604-687-3520
Fax: 888-889-4874
Email: mtbrown@pacificopportunity.com


Neither the Canadian Securities Exchange nor its Regulation Service Provider (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 may contain certain forward-looking information. All statements included herein, other than statements of historical fact, forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward looking information can be found in the company’s disclosure documents on the SEDAR website at www.sedar.com.  The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.