Oban Mining Corporation ("Oban" or the "Corporation") is pleased to announce new results from the ongoing drill program at its 100% owned Windfall Lake gold project located in Urban Barry Township, Québec. The ongoing 55,000 metre drill program combines definition drilling above the Red Dog intrusion ("Red Dog") and expansion drilling above and below Red Dog.
Highlights from 4 new drill holes include: 24.24 g/t Au over 5.0 metres in DDH OBM-16-610; 10.31 g/t Au over 9.3 metres in DDH OBM-16-608; 9.44 g/t Au over 3.3 metres in DDH OBM-16-598; and 14.13 g/t Au over 3.0 metres in DDH OBM-16-602. The new results continue to demonstrate the lateral and vertical continuity of high grade gold mineralization on the western end of the deposit. The table below outlines significant results from the new drill holes(1)(2):
Drill Hole Collar Coordinates and Information:
Drilling above Red Dog is focused on expanding the known zones and upgrading the level of confidence in the mineral resource. Drilling below Red Dog is focused on testing three major corridors of mineralization and alteration (FW-1, FW-3, FW-4) oriented ENE and dipping steeply to the SE, similar to the known zones of the Main Zone defined above Red Dog. Some of the deeper holes are designed to test gold mineralization both above Red Dog and the corridors of mineralization and alteration below Red Dog.
OBM-16-598 (section 2875) targeted the FW3 lens below Red Dog at 950 meters below surface. The FW3 zone was intersected from 1115.0 to 1122.4 metres and returned 5.56 g/t Au over 7.4 metres in a foliated and altered andesite containing 1-5% pyrite and quartz veinlets. Above the Red Dog intrusion, the hole intersected the Caribou S1 zone with 9.44 g/t Au over 3.3 metres and expanded the zone by 65 metres to the ENE where it remains open in all directions.
OBM-16-602 (section 1700) targeted the western extension of the Main Zone in a sparsely drilled sector below Red Dog. This sector is located 300 metres to the southwest of the modelled gold-bearing zones. OBM-16-602 intersected 14.13 g/t Au over 3.0 metres at 193.5 metres (immediately below the Red Dog intrusion) in an altered andesite containing 2-5% pyrite, and represents a new mineralized zone. At 407 metres, 7.84 g/t Au over 2.0 metres was intersected in an altered porphyry dyke containing 5% pyrite, possibly representing the western extension of the FW1 zone below Red Dog.
OBM-16-608 (section 2225) returned 10.31 g/t Au over 9.3 metres, including 232 g/t Au over 0.5 metres in Zone 27 and 7.21 g/t over 3.8 metres in the footwall of Zone 27. The first intercept confirms the high grade extension of Zone 27 on the western end of the deposit over 200 metres vertically and extending the zone to the east of previously reported high grade gold (11.39 g/t Au over 19.9 metres, news release March 18, 2016).
OBM-16-610 (section 2225) intersected 3.81 g/t Au over 4.9 metres 20 metres below drill hole OBM-16-608 in Zone 27, and also intersected a parallel zone in the footwall of Zone 27 with 24.24 g/t Au over 5.0 metres.
The scientific and technical content of this press release has been reviewed by Mr. Gernot Wober, P.Geo. Vice President Exploration for Oban Mining Corporation, Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
True widths are estimated at 65-80% of the reported core length intervals. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum individual assays of 3.0 g/t Au and minimum weighted averages of 3.0 g/t Au averaged over core lengths of a minimum of 2 metres. All NQ core assays reported were obtained by either 1 kg screen fire assay or standard 50 gram fire-assaying-AA finish or gravimetric finish at ALS Laboratories in Val d'Or, Québec or Sudbury, Ontario. The 1 kg screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. All samples are also analysed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS laboratories. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.