Gold Candle – a privately funded Canadian exploration company – reported the discovery of new high-grade mineralization called the Party Wall zone, including 1.80 metres at 130 g/t gold and 10.5 m at 7.1 g/t gold. Other recent intercepts from nearby targets returned 4.0 metres at 41.57 g/t gold and 11.05 metres at 4.22 g/t. The Party Wall is the extension of the Kerr-Addison mineralized system east of the historical-mined areas, below the former Chesterville mine. In 2015, the company acquired claims over the historic Kerr-Addison gold mine and surrounding area in the McGarry Township, located in the Timiskaming district of Ontario.
The company is also ramping up exploration at the project with over 50,000 metres of drilling planned for 2025. Gold Candle has added two more drill rigs to the program following a new exploration targeting review.
Gold Candle COO Leon Leblanc stated: "The year has started strong for Gold Candle and these new high-grade results from the Party Wall zone highlight the incredible strength of the Kerr-Addison mine. It is important to note that the Party Wall is open along strike and at depth. Also, these results are in areas that were not previously mined. The team completed key milestones with the release of Kerr-Addison's updated mineral resource and the initial resource on the Geminid nickel zone providing us with a strong base as we move forward,”
Leblanc added: “I'm excited to see the team executing on our ambitious 12-month exploration plan aiming at expanding the current resource away from the historical Kerr-Addison mine and looking across our property for new discoveries. The company is ramping up exploration at the project with over 50,000 metres of drilling planned for 2025. Gold Candle has added two more drill rigs to the program following a recent exploration targeting review."
The Company is also carrying out mining, metallurgical and environmental studies supporting an ongoing scoping study on Kerr-Addison. Along with the additional drilling, Gold Candle plans to use the results of the scoping study to move towards a preliminary economic assessment (PEA) in 2026.
Gold Candle VP Exploration Dean Crick commented: "The recent drilling results are very encouraging and increase our confidence in the growth potential of areas where no mining or exploration had been done before. We are actively adding quality ounces in a well-understood geological context that can be easily included in future resource updates and economic studies,”
He added: “ The site now has six units actively drilling, including one drilling over 2.5 km deep below the historic mine to test the roots of this world class high-grade system for the first time on the project. As we're progressing with the economic studies on Kerr-Addison, we're excited to see how our drilling results can provide an even more compelling resource base for future studies. Advancing Kerr-Addison towards what we see developing as a long-lived tier-1 operation in the heart of the Abitibi.''
More information is posted on www.GoldCandle.com.
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