Final assays from 2024 Colomac drilling reveal significant gold intercepts, suggesting potential to expand known resources.

STLLR Gold Inc. Sept. 16 announced the final batch of assay results from its 2024 drilling program at the Colomac project in Northwest Territories, Canada, wrapping up a successful exploration campaign aimed at expanding the known gold resource outlined in the project's 2023 preliminary economic assessment (PEA).

"Our 2024 drilling campaign at Colomac concluded successfully, revealing mineralized zones beyond the known mineralization and below the 2023 Colomac PEA pit shell," said STLLR Gold President and CEO Keyvan Salehi. "The results suggest the potential to expand the project's estimated mineral resources."

Located roughly 200 kilometers (125 miles) north of Yellowknife, NWT, the Colomac project serves as the centerpiece of STLLR Gold's expansive 947-square-kilometer (366 square miles) Indin Lake property, once home to a former mine that produced more than 500,000 ounces of gold during the 1990s.

In early 2024, STLLR Gold emerged as the result of a merger between Nighthawk Gold Corp. and Moneta Gold Inc. While Colomac and the wider Indin Lake property were already held by Nighthawk, the combination with Moneta added the Tower Gold project in Ontario to the merged company's portfolio, further solidifying its position as a multi-asset gold exploration project.

Prior to finalizing its merger with Moneta Gold, Nighthawk Gold had laid the groundwork for a large resource that supported a PEA that outlines plans for a mine at Colomac capable of producing 290,000 ounces of gold annually over an initial 11.4 years.

This 2023 PEA envisions a hub-and-spoke style operation with the mill located near the Colomac Main deposit – which currently hosts the bulk of resources – and would also process ore from several satellite deposits surrounding Colomac Main.

According to the resource calculation that the PEA was based on, Colomac Main hosts 60 million metric tons of open pit indicated resource averaging 1.45 grams per metric ton (2.8 million oz) gold and 11.07 million metric tons of open pit inferred resource averaging 2.33 g/t (830,000 oz) gold; plus 10.5 million metric tons of underground indicated resource averaging 1.73 g/t (583,000 oz) gold and 13.4 million metric tons of underground inferred resource averaging 2.03 g/t (872,000 oz) gold.

Four satellite deposits – Kim, Cass, Treasure Island, and Damoti – host 24.3 million metric tons of inferred resource averaging 2.17 g/t (1.69 million oz) of gold.

In its 2024 exploration program, STLLR Gold aimed to build upon the PEA's findings by targeting areas with the potential to expand the resource at Colomac. The company focused its drilling efforts on the southernmost zones of the Colomac Main deposit, with particular attention to underexplored areas that could deliver higher-grade mineralization beyond the limits of the existing resource.

The program included a planned 20,000- to 25,000-meter drilling campaign aimed at expanding known mineralization both laterally and at depth, particularly within Zones 2.5, 3.0, and 3.5.

Recently concluding its 2024 drilling program, STLLR completed 15 holes that intersected promising gold mineralization across several key zones. One of the early highlights included Hole C24-01, which cut 41.5 meters averaging 1.97 g/t gold in Zone 2.5 and encountered visible gold.

Additional drill results throughout the year have further defined mineralization and provided valuable data for ongoing resource evaluation; highlights include:

• 59 meters averaging 1.23 g/t gold from a depth of 351 meters in hole C24-05, including 6.9 meters averaging 3.23 g/t gold (Colomac Main 2.5).

• 62.3 meters averaging 1.56 g/t gold from 332.7 meters in C24-07, including 12.15 meters averaging 2.83 g/t gold (Colomac Main 2.5).

• 99.4 meters averaging 1.12 g/t gold from 250.35 meters in C24-06, including 11.15 meters averaging 2.44 g/t gold (Colomac Main 3.0).

• 35.25 meters averaging 0.74 g/t gold from 308.2 meters in C24-10, including 1.2 meters averaging 11.4 g/t gold (Colomac Main 3.0).

Building on these encouraging findings, the latest assays from the 2024 program continue to reveal significant gold mineralization; highlights include:

• 18.5 meters averaging 2.81 g/t gold from a depth of 480.5 meters in hole C24-14, including 0.5 meters averaging 71.80 g/t gold (Colomac Main 2.5).

• 37 meters averaging 0.85 g/t gold from 320 meters in hole C24-12, including 24.45 meters averaging 1.03 g/t gold (Colomac Main 3.0).

With 2024 drilling at both Colomac and Tower now complete, STLLR Gold is shifting focus toward finalizing an updated mineral resource estimate for the Tower Gold project while continuing to assess the potential for further expansion at Colomac.

"With exploration drilling at both Colomac and the Tower Gold project in Timmins now complete, we are focused on finalizing the updated Mineral Resource Estimate for the Tower Gold project," said Salehi.