Harfang has declared that it had exercised its option to purchase a 100% stake in the high-grade Egan Gold Property.
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- Egan is ideally situated in the center of the rich Abitibi gold field in Ontario, close to Matachewan, Kirkland Lake, and Timmins mining activities.
- Harfang has fulfilled its option to receive a combination of cash and shares in exchange for a 100% stake in the Property.
- Harfang's exploration has produced several high-priority prospects.
We are pleased to proceed with the acquisition of a 100 % interest in Egan, and from the beginning, it has delivered solid results from our exploration campaigns with numerous targets to follow up on. We are particularly intrigued by the delineation of a large, gold-in-soil anomaly south of the E1 high-grade gold occurrence, adding another high-priority target, as well as the E1 South discovery that returned an altered syenite grab sample assaying 25 g/t gold.
Rick Breger, President and CEO, Harfang Exploration Inc.
The Egan Gold Property
The Egan gold property was initially optioned following the discovery of the E1 Zone, where logging activities revealed a northeast-trending shear zone containing a well-developed stockwork of quartz veins hosted in syenite. Subsequent exploration efforts comprised:
- Grab sampling conducted by the vendors yielded assay values ranging from 0.1 g/t Au to 105.0 g/t Au. Notably, fifteen percent (15%) of the 78 samples returned assay values exceeding 10 g/t Au, with highlights including 105.0 g/t Au, 67.2 g/t Au, and 47.6 g/t Au.
LaSalle Exploration Corp., now amalgamated into Harfang, also conducted grab sampling, resulting in assay values ranging from 0.1 g/t Au to 7 g/t Au. Highlights from their findings include 63.7 g/t Au, 22.7 g/t Au, and 4.7 g/t Au.
Two composite chip samples returned significant assay values: 67 g/t Au over 3.0 metres and 2.80 g/t Au over 4.0 meters.
The E2 Zone is made up of several laminated quartz veins that trend eastward and are contained in mafic volcanic rocks close to the Bradley Lake syenite contact. High-grade gold assay readings, including 15.3 g/t Au, 16.6 g/t Au, and 19.3 g/t Au, were obtained from sampling conducted in 2018 and 2019. Situated 3 km southeast of the E1 Zone, the E2 Zone was exposed in 1920s-era trenches.
Exploration conducted under the option comprises 117 square kilometers of Aerial LiDAR (Light Detection and Ranging), 828 line-kilometers of high-resolution helicopter-borne magnetic surveys, 75 kilometers of IP (Induced Polarization) geophysics over priority target areas, geological mapping, prospecting, and soil and till sampling.
Thus far, exploration efforts have yielded several top priorities, such as:
- The grab samples from the E3 Zone yielded assay values of 44.7 g/t Au and 19.0 g/t Au.
- A gold-in-soil anomaly that is roughly 1 km by 500 m in size and is located in conjunction with two features:
- A large IP chargeability anomaly and the anticipated contact of the Bradley Lake syenite and adjacent metavolcanic.
- This 600 m long chargeability zone is thought to consist of perhaps thick bands of changed lithologies that are high in sulfides.
- The assay value for the E1 South gold finding was 25.0 g/t Au. A follow-up prospecting effort centered on a gold-in-soil result of 1.9 g/t Au included this grab sample. The sample was extracted from a hematized syenite outcrop that spanned approximately 75 m by 140 m. A weak IP chargeability anomaly that stretches 400 m east and is still open ends at the western end of the E1 South showing.
- A modified syenite glacial float yielded an assay value of 5.5 g/t Au. This sample was also included in a subsequent prospecting campaign that was targeted at a 1.5 g/t Au gold-in-soil result. The sample from 230 m southwest of the E1 finding resembles E1 in appearance.
These high-priority targets corroborate the soil geochemistry findings from 2021.