VANCOUVER, B.C. February 19, 2021 – STEVENS GOLD NEVADA INC. (CSE:SG, OTCQB:STVGF, FSE:311) (the “Company” or “Stevens Gold”) is pleased to announce results from the data mining of historic geophysical and soil geochemical surveys on the optioned Millennium Gold Property (the “Property”). The Property is located 4.8 km northeast of Lake Havasu City in Mojave County, western Arizona and hosts underexplored low sulphidation volcanic-hosted epithermal gold mineralization with geological similarities in style of mineralization and alteration to other nearby epithermal gold deposits including the Castle Mountain Mine and the Moss Mine.
The Company has submitted its application for a drill permit to the Arizona State Lands Department and is currently awaiting their review and approval.
Integrated Historic Survey Results: Soil Geochemical and Ground Geophysical Surveys
As part of its ongoing exploration program at the Millennium Gold property the Company has been extracting useful information to aid exploration by mining historic geoscientific databases. A 2007 program of virtual grid-based soil geochemical surveys based on Mobile Metal Ion Technology (“MMI”) was undertaken on the Millennium Gold Property and successfully delineated multiple strongly elevated gold responses. A total of 523 samples were collected. Multi-sample, arcuate, ovoid and linear anomalies from widely spaced 400-foot stations varied from 20 to 221 times background and defined broad areas of anomalous response on the property. The wide sample spacing was utilized to assess the property for geochemical signatures originating from structurally related bulk mineable gold mineralization.
Historic ground magnetic surveys were undertaken on the property in 2008 by Zonge Engineering and I.P. geophysical surveys in 2011 by Durango Geophysical Operations. Multiple magnetic “lows” were defined by the magnetic survey and were interpreted as signatures of magnetic destructive alteration. Several of these magnetic lows were accompanied by high resistivity responses and occurred in areas of known gold mineralization that assayed up to 6 g/t gold as well as at Westley Hill where the Company will undertake its maiden drill program to confirm historic gold mineralization intersected in 2008 (c.f. Stevens Gold news release 2021.02.11).
Although ground geophysical and soil geochemical surveys were undertaken on the property at significantly different times there is marked coincidence between magnetic lows, high resistivity responses and multi-sample gold MMI anomalies in soils. These historic results are value-added information and will assist more focused exploration on the property using modern exploration techniques and drilling.
The proprietary MMI soil geochemical technique is based on the partial extraction of soil samples systematically collected from a specific depth below surface. The method has been utilized on a wide range of commodity types from precious and base metals to diamonds worldwide. The MMI Process utilizes proprietary partial extraction techniques, specific combinations of ligands to keep metals in solution, and relies on strict adherence to sampling protocols. The MMI process does not indicate the grade of mineralization responsible for an MMI anomaly nor does it indicate the depth of the source region for the anomaly. Accordingly, pairing the MMI results with geophysical surveys provides an effective tool for defining drill targets in terrain where prospective targets are buried by overburden.
The Company is not aware of any legal, political, environmental, or other risks that could materially affect the potential development of the project.
The Technical Report was prepared by Dr. Mark Fedikow, P.Geo., of Mount Morgan Resources Ltd. Dr. Fedikow is independent of Stevens Gold Nevada Inc., is a “Qualified Person” as defined by NI 43-101 and has reviewed and approved all technical information in this release.
About Stevens Gold
Stevens Gold (CSE:SG, OTCQB:STVGF, FSE:311) is engaged in the business of mineral exploration and the acquisition of mineral property assets in North America. Stevens Gold is exploring the optioned Millennium Gold property in Arizona. The Millennium Gold property consists of three State mineral leases totaling 1,920 acres and is in the general vicinity of the Oatman mining district where over 2 million ounces of bonanza-grade gold has been discovered and where Equinox’s Castle Mountain open pit gold mine is located, please see the Technical Report filed on SEDAR for more information.
ON BEHALF OF STEVENS GOLD NEVADA INC.
CEO, President, Director & Secretary
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities. In addition, the securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold within the United States or to or for the benefit or account of U.S. persons, absent such registration or an applicable exemption from such registration requirements.
This press release includes forward-looking information within the meaning of Canadian securities legislation, concerning the business of Stevens Gold. Forward-looking information is based on certain key expectations and assumptions made by the management of Stevens Gold. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that: the Company will undertake its maiden drill program to confirm historic gold mineralization intersected in 2008; the Company has submitted its application for a drill permit to the Arizona State Lands Department and is currently awaiting their review and approval; and the Company is not aware of any legal, political, environmental, or other risks that could materially affect the potential development of the project. Although Stevens Gold believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Stevens Gold can give no assurance that they will prove to be correct. Accordingly, readers should not place undue reliance on forward-looking statements.
Actual results may vary from the forward-looking information in this news release due to certain material risk factors described in the Corporation’s Annual Information Form under the heading “Risk Factors” and the failure to complete the Offering on the terms set forth herein in a timely manner or at all, the risk that regulatory approvals will not be received and the risk that changing circumstances will result in the proceeds being used in a manner other than as set forth herein. The Company cautions that the foregoing list of material risk factors and assumptions is not exhaustive.
The Company assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.