Toronto, Ontario – October 4, 2022 – Mistango River Resources Inc. ("Mistango" or the "Company") (MIS:CSE) is pleased to announce that it will begin a 5,000-metre drilling program on its Ledden Copper-Gold Project ("Ledden") in the Chibougamau District of Quebec. Ledden is also adjacent along the southeast boundary of QC Copper and Gold's (QCCU:TSXV) Opemiska Project.
The drill and crew began mobilizing to the site on the week of October 10, 2022. Phase One's drilling will focus on the northeast trending magnetic anomalies and test for near surface bulk tonnage copper-gold mineralization.
Chibougamau: An emerging bulk tonnage copper-gold District
The historical results and success of the QC Copper and Gold exploration over the last three years at Opemiska have served as a guide for exploration below known showings and copper-gold deposits in the Chibougamau District of Quebec. Opemiska has a resource of 1.58Bn CuEq lbs @ 0.88% CuEq in M&I category & 345.8M CuEq lbs @ 0.73% CuEq Inferred One of the most prolific copper gold mining camps lies immediately west of the Ledden Project.
The magnetic anomaly of interest on Ledden extends for over 2.5 kilometres but has only been tested over a 700m strike length. The Company will test this large, mineralized structure near the surface with little historical drilling.
Highlights of the Ledden Project
The magnetic anomaly of interest on Ledden extends for over 2.5 kilometers but has only been tested over a 700m strike length. Drilling in 2017 intersected up to 0.25% copper over 40.1 metres. Several northeast trending magnetic anomalies have been outlined by detailed airborne magnetics, and a drill hole in 2017 intersected 0.82 grams per tonne of gold over 8.21 metres over a parallel but weaker magnetic anomaly. There is no outcrop and structures are currently interpreted to be vertical, and as such, the true widths of mineralized intersections are assumed to be about 70 to 80% of core lengths. However, more work is required to establish the dips of the mineralized zones properly.
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."
About Mistango River Resources Inc.
Mistango is a Canadian-based exploration and development company focused on its Kirkland Lake West and Omega projects in the Kirkland Lake District of Ontario's Abitibi Greenstone Belt. The Company is listed on the Canadian Securities Exchange (CSE) under the symbol MIS.
Agnico Eagle Mines Limited (TSX: AEM) holds an option to acquire up to a 75% interest in Mistango's Kirkland West and Omega projects (the "Projects") in exchange for spending $60 million on the Projects.
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Stephen Stewart, Chief Executive Officer
Neither 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.