Sentinel Resources Corp. (CSE: SNL)(OTCPK: SNLRF) (“Sentinel” or the “Company “) is pleased to announce that it has acquired, by staking, eight, gold-focused exploration concessions totaling approximately 94,500 hectares (945 km 2 ), located in New South Wales, Australia . The concessions are known as Star of Hope, Golden Bar Alliance Reef, Stanleys, Lady Mary Waddery West, Wittagoona Reef and Toolom South (collectively, the ” Gold Projects “)(Figure 1).
Highlights of Acquisition:
- At least 198 historic gold mines and gold exploration prospects are present across the Gold Projects. Historic production records indicate that gold grades were often multi-ounce (see News South Wales Department of Planning, Industry and Environment).
- The licences are strategically located within the prolifically mineralized Lachlan and New England orogenic terranes.
- Sentinel applied to the Manager of Minerals Titles, New South Wales Department of Mining, Exploration and Geosciences for the concessions. The concessions will be 100% owned with no royalties or back-in rights, upon completion of acquisition process. Sentinel will be required to post a refundable performance bond of AU$10,000 per concession, and spend exploration and associated expenses on each concession of AU$ 25,000 in Year One and AU$50,000 in Year Two.
- Sentinel has engaged a highly experienced exploration team to commence a reconnaissance work program on high-grade historic mines and showings in November 2020 . The focus is to identify high-grade drill ready targets.
Rob Gamley , President & CEO of Sentinel, states, “The acquisition of eight strategically located Gold Projects, within the prolifically mineralized Lachlan and New England orogenic belts, provides the Company with an extremely solid exploration portfolio on which to build. To acquire such a commanding land package, with numerous high-grade historic gold mines and showings, is a remarkable achievement given the large numbers of companies that are now focusing their acquisition and exploration activities in New South Wales . Our highly experienced team continues to review precious metal opportunities worldwide.”
The New England Orogenic Terrane
The New England Orogen forms the basement throughout the northeast of New South Wales . It developed along the eastern margin of Gondwana as a result of convergent margin tectonic processes in the Paleozoic and early Mesozoic. The orogen was most likely island arc-related from the Cambrian to the Middle Devonian, changing to a continental margin magmatic arc from the Late Devonian onwards. Ophiolites — remnants of ocean floor — crop out along the regional Peel-Manning suture zone.
The presence of extensive alluvial gold fields and showings, coupled with the large number of historic underground gold and silver mines, and a variety of tectonic terranes including Andean-type continental arc, fore-arc, and accretionary wedge, indicates that the New England Orogen is high prospective for the discovery of gold and silver deposits. The Peel-Manning ophiolite zone, especially where altered to listwanite, is highly prospective for orogenic gold.
Five of the eight Gold Projects are located within the New England Orogenic terrane:
- Toolom South (ELA 6061) : This concession is located in the historic Toolom goldfield. It covers an area of 165.5 km 2 and includes over 60 historic gold mines and high-grade gold showings. There are also potentially significant alluvial gold deposits.
- Alliance Reef (ELA 6057) : Alliance Reef comprises 102.5 km 2 and is located in the western portion of the New England orogenic belt. The license covers 12 strike kilometers of the significantly gold mineralized regional Peel-Manning fault system. Mineralization is of an orogenic or lode gold type — characterized by quartz veins which may host high grade gold shoots. Orogenic systems typically have large vertical extent and mineralization may extend 100’s to 1,000+ metres down-dip.
The Peel-Manning fault is a crustal scale structure that is strongly gold mineralized along its 350 km strike length. It is significant that the fault system hosts ocean-floor mafic and ultramafic rocks present as listwantite (quartz-carbonate) altered serpentinites. Deposits such as the Californian Motherlode, Bralorne ( British Columbia ) and large high-grade gold systems throughout the shield area of Saudi Arabia are all associated with listwanites.
Twenty-eight past producing gold mines and prospects have been identified within the Alliance Reef concession. Historical production and prospecting records define a 1 km wide, 7.5 km long gold trend. Historical hard-rock production grades of up to 15 g/t Au are cited.
The historic mines include the past producing Marquis of Lorne orogenic gold-antimony mine, with over 500 m of historical underground workings. Historic drill hole intercepts of up to 5 g/t Au over > 5m are recorded, according to government sourced records.
- Wittagoona Reef (ELA 6067) : The 150.7 km 2 Wittagoona Reef concession covers part of the Peel-Manning fault system and associated hanging-wall regional faults. Wittagoona shares many similarities to the orogenic lode gold and listwanite-hosted mineralization at Alliance Reef. It straddles 12 km of the Peel-Manning fault and 15 km of the gold mineralized Nomoi Fault.
NSW Government records indicate there are at least 11 historic gold mines and prospects within the concession. Historical reports state that there are numerous adits of greater than 100 metres in length associated with a number of quartz-stockwork mullock heaps.
- Golden Bar (ELA 6060) : This concession covers an area of 198 km 2 and is located in the eastern part of the New England orogen covering the majority of the historic Orara-Coramba gold field. There are at least 50 historic underground mines and prospects — many noted for high gold grades.
Forty-seven of the mines and occurrences in the New South Wales Government database are listed as structurally controlled, low sulphidation epithermal type. Historic production records cite grades of up to 184 g/t Au. Occurrences are clustered along two east-west trending mineralized corridors with a cumulative strike length of over 40 km.
- Star Of Hope (EAL 6068) : A 28 km 2 license located in the north-eastern part of the New England Orogen. At least 12 historic hard-rock mines and high-grade showings are present. Historic mines and occurrences are clustered in two zones of several kilometres strike length and up to 1 km wide.
The Lachlan orogenic terrane
The Lachlan Orogen of New South Wales , Victoria and eastern Tasmania represents a marginal mobile zone developed at the edge of the Australian Plate during the Ordovician and Early Carboniferous Period. It comprises a series of prolifically mineralized accretionary terranes which host a number of economically important mineralized deposits.
In New South Wales these include world-class porphyry Cu-Au deposits and related skarn Cu-Au and epithermal Au deposits; small to large epigenetic and hydrothermal Au and Pb-Zn-Cu deposits; medium sized orogenic Au deposits and small to large VHMS style Pb-Zn-Ag-Au deposits. Three of the eight Sentinel gold projects are located within the Lachlan Orogenic terrane:
- Stanleys (ELA 6062) : This project spans 89.5 km 2 across the east of the Lachlan orogenic terrane and includes 17 historic gold mines and showings. Historic records cite production grades of up to 185 g/t Au. The license occurs within the highly prospective Hill End Trough and Macquarie Arc.
- Lady Mary (ELA 6064) : This 92.7 km 2 concession is located in the centre of the Lachlan orogenic terrane. New South Wales Government records indicate that 15 historic hard-rock mines and prospects are present — 12 gold and three silver.
Mineralization is associated with regional scale NE-SW trending faults. Gold is associated with gossanous zones of between two to 10 metres wide, defined over a 7 km strike length. The association of gold with silver, copper, lead and zinc, suggests that mineralization is of an orogenic VMS type.
- Warraderry West (ELA 6055) : This concession encompasses 131.3 km 2 and is located within the Tabberabberan orogenic gold region of the Lachlan orogenic terrane. The principal target on the property is a 15 km long gold mineralized dyke swarm. Limited historic exploration identified potentially Carlin-style mineralization to the NE of the tenement, hosted in clastic sedimentary units of the Kirribilli Formation
Christopher Wilson , Ph.D., FAusIMM (CP), FSEG, a Qualified Person, has reviewed and approved the scientific and technical information contained in this news release.
About Sentinel Resources
Sentinel Resources is a Canadian-based exploration company focused on the acquisition and exploration of precious metals projects with world-class potential. Its current portfolio includes gold and silver projects located in New South Wales, Australia ; Peru and British Columbia. The Company’s guiding principles are based on acquiring strategic exploration properties in mining-friendly jurisdictions with historical mining industries, low-cost of entry or acquisition, and easy access to infrastructure to minimize capital and operational costs in explorational periods. For more information, please go to the Company’s website at www.sentinelexp.com .
Sentinel Resources Corp.
President and Chief Executive Officer
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Sentinel cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Sentinel’s control. Such factors include, among other things: risks and uncertainties relating to Sentinel’s limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on its mineral properties, obtaining the necessary permits to carry out its activities and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Sentinel undertakes no obligation to publicly update or revise forward-looking information.
Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE Sentinel Resources Corp.