Cross River drills 41.1 g/t gold over 0.5 metres at McVicar, Ontario

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Cross River Ventures Corp. [CRVC-CSE; CSRVF-OTCQB; C6R-FSE] reported results from the Bear Head zone maiden drill program at the McVicar project, located 150 km northeast of Red Lake, northwestern Ontario.

Highlights include discovery drill hole BH-02 intersected 0.5 metres of 41.1 g/t gold with visible gold in core at 153.75 metres downhole.  Maiden 8-hole diamond drill program tested a new gold trend (the Bear Head Zone) that was discovered in 2021 with surface samples grading up to 19.75 g/t gold.

All eight holes intercepted anomalous gold mineralization greater than 0.25 g/t gold. Planned follow-up work includes geophysics and step-out drill holes.

In the summer of 2021, Cross River completed extensive targeted prospecting work on the McVicar property located in the Archaean Lang Lake greenstone belt, which resulted in the discovery of a new surface gold trend, the Bear Head Zone, which was drill tested by the company in winter 2022. The Bear Head Zone is a +700-metre long gold trend with surface samples returning up to 19.75 g/t gold over coincident LiDAR and magnetic features. No previous drilling has ever been completed at the Bear Head Zone target.

Eight diamond drillholes tested the Bear Head Zone during the winter 2022 program, and all holes intercepted anomalous gold mineralization greater than 0.25 g/t gold. Drilling identified an altered and mineralized corridor over 710 metres long, open to the east and west along strike.

Notable Drilling Intercepts (over 0.5 g/t gold) at Bear Head Zone include hole BH-02 that returned 5.23 meters at 0.51 g/t gold from 72.37 metres downhole, including 1.0 metre at 1.17 g/t gold; 1.0 metre at 0.61 g/t gold from 90.0 metres downhole; 1.2 meters at 0.74 g/t gold from 117.0 metres downhole; 0.5 metres at 0.70 g/t gold from 150.1 metres downhole; and 0.5 metres at 41.1 g/t gold (with visible gold in core) from 153.75 metres downhole.

BH-03 returned 1.0 metre at 0.97 g/t gold from 22 metres downhole; 0.47 metres at 3.23 g/t gold from 43.36 metres downhole; and 1.15 metres at 0.97 g/t gold from 47.85 metres downhole. BH-04 returned 1.0 metre at 0.90 g/t gold from 125 metres downhole and 1.0 metre at 0.81 g/t gold from 155 metres downhole. BH-08 returned 1.0 metre at 1.1 g/t gold from 133 metres downhole.

Alex Klenman, CEO, stated: “We are pleased with the results of the company’s initial drill test on the Bear Head trend. The Cross River technical team identified this area as a priority target for gold mineralization and drilling has now confirmed discovery in this highly prospective zone. We look forward to next steps on the large prospective McVicar property and to follow up drilling at Bear Head. We”re also eager to see the results from drilling at the Altered Zone and anticipate receiving those sometime over the next few weeks.”

“The discovery of high grade gold during the company’s initial drill test at the Bear Head Zone represents a significant step forward for Cross River,” said Dan MacNeil, P.Geo, of the Cross River Technical Team. “The Bear Head Zone is on trend with the Golden Patricia Mine, which produced more than half a million ounces of gold at an average grade of 15 grams per ton. The McVicar project is a flagship gold endowed exploration asset, and the presence of high grade gold increases our confidence in the potential of the project,” continued MacNeil.

In addition to drill testing the Bear Head Zone during the winter 2022 drill program, 6 holes were drilled at the Altered Zone target to test strike and plunge continuity of known mineralization. Assays are pending and will be released once received, reviewed, and verified by the technical team.

The Altered Zone is a complex zone of deformation and intense alteration composed of sheared mafic volcanics, abundant green mica, intermediate intrusive rocks, massive to semi-massive quartz, and a quartz-carbonate-sericite schist.

The McVicar Gold Project is a district-scale (approximately 12,000 hectares) gold exploration project that contains gold prospective structure and host rocks that transect the entire Lang Lake greenstone belt, located in the Patricia Mining Division, approximately 80 km west of Pickle Lake, northwestern Ontario.

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