Toronto, Ontario – June 26, 2023 – Mistango River Resources Inc. ("Mistango" or the "Company") (MIS: CSE) has completed a helicopter-geophysical survey ("Survey") at its Goldie Project, 50 kilometres west of Thunder Bay, Ontario, and immediately adjacent to Delta Resources' Detla-1 project.
In the case of the Goldie Project (Figure 1), which is immediately adjacent and on-trend to Delta Resources Delta-1 Gold project's recent discovery, conducting a survey is of utmost importance for delineating drill targets. Previous drilling efforts at Goldie uncovered gold mineralization similar to that at Delta-1. However, this drilling was completed without specific targets in place. This 420 line kilometre high-resolution survey (Figure 2), flown at 50 metre spacing, will cover the primary area of interest of Goldie and is expected to provide new detail on targets.
High-resolution airborne magnetic surveys have emerged as invaluable tools for targeted exploration within the Shebandowan region. These surveys have demonstrated their efficacy in identifying hydrothermal conduits, detecting magnetite destruction resulting from alteration, determining lithology associated with mineralization, and aiding in delineating mineralized feeder zones.
Additionally, to enhance our understanding of the Goldie project and gain insights into Delta Resources and the Shebandowan, Mistango's technical team is engaged in a comprehensive data compilation process of the district. We aim to integrate our knowledge of the district geology and leverage this understanding to increase the chances of success in future exploration drilling on Goldie.
Before commencing the upcoming Phase II drill program, Mistango anticipates receiving the high-resolution magnetic survey results. Phase I drilling delineated a kilometer-long zone displaying gold mineralization extending north and south along the strike. These encouraging findings indicate promising opportunities for further exploration in the area.
About the Goldie Gold Project
Goldie Project comprises 89 square kilometres along the Shebandwan Greenstone Trend and is 100% onwed by Mistango. In 2023, Mistango discovered a high-grade near-surface gold zone over 1km long adjacent to Delta Resources' Delta-1 discovery.
Goldie is within the Shebandowan Greenstone Belt, which also hosts Goldshore Resources Inc.'s (GSHR:TSXV) low-grade, high-tonnage Moss Lake gold deposit, 50 km to the west. Goldie is also adjacent to Delta Resources Limited (DLTA:TSXV) Delta 1 Gold Property.
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The technical information in this news release has been reviewed and approved by Jared Beebe, P.Geo., a Qualified Person as defined in "National Instrument 43-101 – Standards of Disclosure for Mineral Projects."
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Stephen Stewart, Chief Executive Officer
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Mistango assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Mistango. Additional information identifying risks and uncertainties is contained in filings by Mistango with Canadian securities regulators, which filings are available under Mistango profile at www.sedar.com.