Mistango River drills 2.02 g/t gold over 14 metres at Goldie, Ontario

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Mistango River Resources Inc. [MIS-CSE] has discovered a near-surface high-grade gold zone over one-km in strike length at the 100%-owned Goldie project located about 50 km northwest of Thunder Bay, northwest Ontario. This drill program tested the northern border of a high-grade gold zone recently discovered by Delta Resources adjacent to Delta-1 project. Mistango’s Goldie drill program completed 17 holes over 2,780 metres, combining RC (reverse circulation) and diamond drilling. All assays for the diamond drilling are still pending, with visible gold observed in one of the diamond drill holes.

This new discovery zone on Goldie lies immediately on strike to the east of Delta 1’s project, which has been defining similar mineralization. This structure is a shallow, flat-lying gold-bearing system with continuous gold. This style of mineralization is amenable to bulk tonnage operations. This view extends beyond what Mistango and Delta are currently focused on as this broader Shebandowan greenstone belt has demonstrated similar structures throughout.

Between these two projects, and others in the area, it is clear that the Shebandowan greenstone belt is an interesting and emerging gold district.

Goldie’s mineralized zone was observed in seven of the 14 assayed holes along a one-km strike. Mineralization is open east and west of the 1 km strike and north and south. The sole hole drilled south of this newly defined gold-bearing structure was hole GLD-003-008, which returned 2.02 g/t gold over 14 metres. There is potential to further extend the mineralized zone for another 500 metres to the south of GLD-003-008, toward the Delta-1 project, where Delta Resources continues to intersect visible gold in multiple drill holes adjacent to the south of Mistango’s Goldie project.

Mistango is awaiting assays for the diamond drill holes, one of which had visible gold. The diamond drill holes tested separate but parallel zone to the south. Once all assays are returned, the data will be modelled and interpreted to plan a follow-up drill program.

Highlighted assays from the RC drilling: GLD-002-006, 0.378 g/t gold from 89 to 94 metres; GLD-003-008, 2.02 g/t gold from 153 to 167 m; GLD-003-011, 0.54 g/t gold from 33 to 46 m; GLD-003-011, 16.6 g/t gold from 70 to 71 m; GLD-003-013, 0.61 g/t gold from 61 to 63 m; GLD-003-015, 1.13 g/t gold from 48 to 54 m; and GLD-003-016, 0.95 g/t gold from 66 to 69 metres.

Goldie is located within the Shebandowan greenstone belt and covers a 17-km strike on the Shebandowan structural zone, which also hosts Goldshore Resources Inc.’s low-grade, high-tonnage Moss Lake gold deposit 50 km to the west. Goldie is also adjacent to Delta Resources Delta-1 project, which reported multiple holes of visible gold, including an intersection of 11.9 metres of 14.8 g/t gold within a broader interval of 31 metres of 5.92 g/t gold.

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