New Destiny Mining Locates Base Metal – Precious Metal Mineralization in Southeast Region of Treasure Mountain Silver Property, Southern British Columbia
TSX-V : NED
New Destiny Mining Locates Base Metal – Precious Metal Mineralization
in Southeast Region of
Treasure Mountain Silver Property, Southern British Columbia
Vancouver, British Columbia – January 30, 2019 – New Destiny Mining Corp. (TSXV: NED), (the “Company” or “NED”) is pleased to announce it has received the second batch of analytical results from the 2018 exploration program on its Treasure Mountain Silver Base Metal – Precious Metal Property, southern B.C. The results are for rock grab samples collected in the southeast region, including significant analyses for base and precious metals, tellurium and anomalous indium values. The first batch of 2018 sample analyses included significant gold analyses from the east-northeast regions. Rock sample highlights from the 2018 program include.
- 3 & 8.81 grams per tonne (g/t) gold in the east-northeast regions (News Release of July 26, 2018).
- Up to 1.45% zinc, 122 g/t silver, 0.87 g/t gold, 57 g/t tellurium and 12.3 g/t indium in the southeast region.
The Treasure Mountain Silver Property of NED partially surrounds the Treasure Mountain Property of Nicola Mining Inc. which hosts polymetallic veins and the historic Treasure Mountain silver-lead-zinc mine (TSXV:NIM). The Treasure Mountain Silver Property is also located approximately 37 kilometers southwest of the Shovelnose Gold Property of Westhaven Ventures Inc. (TSXV: WHN). Westhaven Ventures recently reported a diamond drill intersection of 8.95 g/t gold and 65.47 g/t silver over 46.2 meters (core length) at the Shovelnose Property.
The Treasure Mountain Silver Property hosts multiple occurrences of silver, gold, lead, zinc and / or copper; and two copper – molybdenum occurrences. Copper and nickel mineralization is also reported locally in the northern region of the property.
The second batch of analytical results are for 2018 rock samples collected in the southeast region of the Treasure Mountain Silver Property. The Rio Grande gold-silver-zinc-lead occurrence is reported in this region of the property. An area of sulfide mineralization in outcrop was located during the 2018 program northwest of the reported location of the Rio Grande occurrence. Outcrop grab samples returning higher values for various metals from this area include:
Samples 118816 and 118817 are from a massive sulfide vein exposure. The vein at this exposure is approximately 10-15 centimeters wide, striking northeast-southwest. Samples 118815 and 118818 were from sulfide bearing sheared exposures.
The Company also conducted trenching during 2018 in the southeast region of the property. Numerous outcrop grab samples from one trench returned anomalous gold values. This included three samples returning 0.877, 0.46 and 0.359 g/t gold. The host rock in this trench is a pyrite bearing schistose rock.
The 2018 rock samples were analyzed at ALS Canada in North Vancouver. The samples were analyzed for gold by Fire Assay – Atomic Absorption (AA) and for 48 elements by ICP-MS. Samples over the upper limits for silver and / or zinc were re-analyzed for these elements by four acid ICP-AES.
Some highlights of reported historic work within the Treasure Mountain Silver Property include (as per British Columbia MINFILE and Mineral Assessment Report Records):
- Rainy (Cedarflat) occurrence (north-central region): 2011 grab samples from rock piles near an adit were reported to return 6.5, 7.4 and 11.9% zinc.
- Spokane (northeast region near Jim Kelly creek): A sample reported in 1913 of 4.11 g/t gold over 0.9 meters across the zone.
- John Bull (northeast region near Jim Kelly creek): A channel sample reported in 1937 of 9.6 g/t gold over 0.18 meters across a quartz vein.
- Railroad creek area copper showing (east region north of Railroad creek): Two 2011 grab samples from rock piles near adits were reported to exceed 1% copper and up to 76.4 g/t silver.
- Rio Grande (southeast region): A 1.5 meter chip sample across a shear zone was reported in 1929 to return 1.2% zinc.
Readers are warned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.
ON BEHALF OF THE BOARD OF DIRECTORS
Forward Looking Information
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, the Company’s information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks including that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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