Stewart, British Columbia--(Newsfile Corp. - August 25, 2020) - Decade Resources Ltd (TSXV: DEC) ("Decade" or the Company) announces that it has entered into an option agreement with Teuton Resource Corp. on the Lord Nelson property. The property located 34 kilometres east of Stewart, BC is comprised of 2630 ha in 6 separate claims. The property is located along contact zone of volcanics to the west and sediments to the east.
Decade has the right to earn up to a 55% interest in the Lord Nelson property under the following terms:
- Payment of $100,000 over 4 years with an initial payment of $10,000.
- Issuing 400,000 shares of Decade on signing.
- Issuing an additional $90,000 of Decade stock over a 4 year period.
- Expenditures of $2,000,000 over 5 years.
Decade has the right to earn an additional 20% by placing the property into production. Teuton retains a 2% Net Smelter Royalty. The agreement is subject to TSX Venture approval.
Highlights of the property include:
- Grab sampling in 2019 on the Lord Nelson near the boundary with the Del Norte property yielded 0.25 to 272 g/t (8 oz /t) gold and 60 ppm to 17.45 % copper. A photo of a mineralized outcrop is attached.
- Examination by consulting geologists working for Decade Resources in 2020 confirmed the location and nature of the 2019 sampling, and discovered more mineralized occurrences to the north in an upslope direction from Nelson Creek (assays are awaited).
- Nelson Creek, lying immediately to the south of the copper-gold bearing showings, is known to have produced coarse, placer gold in the 1930's. A definite source for this gold has not yet been found.
- Geophysical surveys by Teuton in previous years indicated EM anomalies extending north from the Del Norte project into the Lord Nelson tenures. One of these anomalies is spatially associated with the LG vein, a known high-grade gold occurrence with a minimum 1.2 km strike length.
- A series of ZTEM anomalies were identified in a multi-property survey in 2018. The northernmost of these is on the Lord Nelson property. Of this anomaly, Geotech's geophysicists stated that it: "coincides with a strong Aerotem conductor. It lies at the contact between volcanics and sediments of the Hazelton Group. This target is stretching roughly in the NS direction over a distance of >1.8 km and has an estimated resistivity of <50 ohm-m at depth of 300m. It occurs within a zone of complex structural pattern and represents probably the northern extension of the conductor that hosts the LG vein system. "
Ed Kruchkowski, president of the Company states: "The Lord Nelson tenures are on strike with the volcanic/sediment contact being tested by the Company in Nelson Creek at present. The Company has noted that the horizons being tested appear to strike north on to the newly optioned claims. Also, helicopter flights to the area of the Del Norte drilling pass directly over the newly optioned tenures. The new showing area which is at low elevations allows the Company to have a longer exploration period in this region."
Drilling is continuing at the Del Norte project and is successfully intersecting all intended target zones.
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 is responsible for the contents of this release. E. Kruchkowski is not independent of Decade as he is the president of the Company.
Decade Resources Ltd. is a Canadian based mineral exploration company actively seeking opportunities in the resource sector. Decade holds numerous properties at various stages of development and exploration from basic grass roots to advanced ones. Its properties and projects are all located in the "Golden Triangle" area of northern British Columbia. For a complete listing of the Company assets and developments, visit the Company website at www.decaderesources.ca which is presently being updated. For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.
ON BEHALF OF THE BOARD OF DECADE RESOURCES LTD.
"Ed Kruchkowski"
Ed Kruchkowski, President
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."
New Cpy Mineralization
Lord Nelson Valley - Aug 12, 2020
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