Vancouver, British Columbia – March 10, 2023 – New Destiny Mining Corp. (TSXV: NED), (the “Company” or “NED”) announces that the Company is planning to resume work this season at its Treasure Mountain project, near Hope, BC.
Photo showing access construction and samples being collected at Railroad occurrence
Exploration field work was restricted over the last two seasons due to damaged roads and bridges caused by flooding during the winter months of 2021. In 2022, an airborne LIDAR survey was flown over the entire property. The results will aid in locating historic workings and geological structures related to mineralization.
Hand sample showing chalcopyrite-pyrite mineralization at the Railroad occurrence
Field work is being planned for the Railroad, Jim Kelly and Rio Grande mineral occurrences. The Railroad is a zone of copper-silver mineralization hosted in quartz sericite schist at one of seven historic adits. A 1.7 metre wide sample across the mineralization in 2019 returned values of 264 grams per tonne silver and 1.06% copper, with elevated arsenic (106 ppm As) and antimony (439 ppm Sb). The weighted average grades for this and two consecutive mineralized samples are 116.0 ppm silver and 0.64% copper over a 4.2 metre width (Assessment Report 38687). Plans are to test the structure by diamond drilling and to explore for a northern extension using soil geochemistry.
The Jim Kelly Creek area contains gold-quartz veins, where a 2018 grab sample returned a result of 11.3 grams per tonne gold (Assessment Report 37650). Plans are to expose the vein by trenching and then test it by drilling. Geochemical surveys are also being planned.
The Rio Grande was last visited in 2018 when 7 rock grab samples were collected. The results ranged up to 122 grams per tonne silver, 0.4 % copper, 1.45% zinc and 0.24 grams per tonne gold (Assessment Report 37650). Plans are to collect representative channel samples and follow-up by trenching and drilling.
The project is currently fully permitted and ready for drilling and trenching. Archeology studies were completed in 2019. The field work will entail trenching, rock sampling and drilling, and is scheduled to take up to 45 days and cost $375,000.
Readers are cautioned 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.
Dr. Mathew Ball, P.Geo., a Qualified Person as defined by NI 43-101 and consultant to the Company, approved the technical information contained in this News Release.
The Company also announces that Mr. Brad Kitchen has resigned as a director but remains as an advisor to New Destiny.
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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