Blackwolf howls for bonanza gold in BC

Blackwolf Copper and Gold Ltd. Oct. 30 reported bonanza grade gold intercepts from the first assays from drilling at the Swann target on the Harry property, the company's first property on the British Columbia side of the Golden Triangle.

Located between Ascot Resources' Premier gold mine and Scottie Resources Corp.'s Scottie gold mine, Harry is a 1,333-hectare (3,294 acres) gold exploration property that Blackwolf obtained after purchasing Optimum Ventures Ltd. around mid-year.

Kicking off exploration at Harry after wrapping up with Cantoo at the beginning of September, results from drilling have already paid off for the company, with one of the holes reporting visible gold around the start of October.

At the time, seven holes were completed from two pads for a total of 1,740 meters, in which Blackwolf reported each hole encountering significant mineralization and one containing coarse visible gold that included a 10-centimeter-long streak at approximately 140 meters downhole.

While seven holes were drilled, the sixth hole, H23-017, was too good to let wait, so the company whisked it away as quickly as possible. Highlights from this hole include one meter averaging 312 g/t gold and 101 g/t silver from a depth of 139 meters and one meter averaging 277 g/t gold and 118 g/t silver from 199 meters.

With assays rolling in, the depth of the vein of gold is turning into a jackpot for Blackwolf.

"I extend my sincere congratulations to our entire team for this remarkable discovery," said Blackwolf Copper and Gold CEO Morgan Lekstrom. "We place great emphasis on Rob McLeod's exceptional expertise in the area, which played a crucial role in this discovery."

These results were from drilling that targeted the Swann zone, a northwest-trending structural corridor typified by multiple overlapping phases of quartz and sulfide veins.

"The Swann zone, like Brucejack, bears imprints of the McLeod family's exploration and area knowledge," said Lekstrom. "We are not only thrilled by the exceptional high-grade nature of this discovery, but also the tremendous value it holds for our shareholders."

Based on previous surface sampling and limited drilling by Optimum, these vein phases can host significant gold, silver and possible base metal-rich mineralization that can include pyrite, galena, sphalerite, tetrahedrite and other sulfosalt minerals.

Highlights by previous drilling by Optimum at Swann zone include 15.64 meters averaging 3.1 g/t gold and 433.4 g/t silver in hole S21-3, and 9.26 meters averaging 1.64 g/t gold and 690.15 g/t silver in S21-4.

Blackwolf adds that these multiphase, structurally complex, and evolved metallogenic systems have similarities to other high-grade gold-silver deposits in the Golden Triangle, such as Brucejack.

"Notably, BruceJack was acquired for USD$2.7 billion by Newcrest and stands as one of the most prominent high-grade underground mines in North America," added the Blackwolf CEO. "I firmly believe that we have the potential to develop another similar system."

With a bonanza success of this magnitude, it was especially significant for an individual whose family legacy is intimately tied to this area of British Columbia.

"Growing up in nearby Stewart, BC and being part of a family with a long lineage of mining and exploration in the Golden Triangle, I have an appreciation for the rewarding nature of gold discoveries," said Blackwolf Copper and Gold Executive Chairman Rob McLeod. "These early-Jurassic systems often host deposits of exceptionally high-grade, analogous to those found in BruceJack, which can be successfully mined at these exceptional grades and widths as well as the upper levels of the historic Premier mine, the richest gold mine in North America during the 1920s. Making discoveries in the mining industry is often challenging, but to make one in this area is very exciting."

Further assay results from hole H23-017, the remaining six holes from the program, as well as the assays from the season at Cantoo, remain pending.

"Leveraging our deep understanding of the area, coupled with the ongoing glacial recession, we are strategically positioned to not only make new discoveries but drive them forward," finished Lekstrom. "Stay tuned as this is the first page in the story of Blackwolf's discoveries."