Blackwolf Copper and Gold Ltd. (“Blackwolf”, or the “Company”) (TSXV: BWCG, OTC: BWCGF) is pleased to announce the launch of the maiden drill program at the Cantoo Mountain Project (“Cantoo”) in Southwest Alaska. The Cantoo Property is located adjacent to the Canadian border and the historic Premier Gold Mine that is currently in redevelopment. Initial drill holes could be in excess of 700 meters to test the multiple structures. This marks the first modern exploration effort at Cantoo since the 1920s and the first ever diamond drill program testing Multiple stacked shallow-dipping vein structures and breccia, including a 30m (100ft) wide vein. During preliminary sampling, Blackwolf uncovered a significant 30-meter (100ft) vein exhibiting high-grade results of up to 30.4g/t Gold, 2860 g/t Silver, and 5.8% Copper outcropping at surface. The initial drill program is planned to cover up to 2000 meters in 4 drill holes over a 1.5 month period with Initial results expected early September.
Morgan Lekstrom, CEO and Director of Blackwolf, commented, “We are proud to commence this drill program, a testament to our commitment to unlocking the potential of this promising location. Cantoo stands out as one of the most compelling untested drill targets in the Golden Triangle. Notably, it lies just approximately 600 meters away from the Premier Mine on the Canadian side of the border. As we know, geology transcends boundaries and borders, and in this prolific region, which is also home to the renowned Brucejack Mine (acquired in 2021 for $2.8 Billion) and numerous other significant mining endeavors, we are poised to unveil the hidden treasures that lie beneath its surface.”
Figure 1: Sampling Results and Drill Plan
Photo 1: Drill pad under construction
Market Making Agreement
Blackwolf is also pleased to announce that it has retained PI Financial Corp. (“PI”) to trade the securities of Blackwolf on the TSX‐V for the purposes of maintaining an orderly market. In consideration of the services provided by PI, the Company will pay PI a monthly cash fee of $5,000 for a minimum term of six months and renewable thereafter. Blackwolf and PI are unrelated and unaffiliated entities. PI will not receive shares or options as compensation. The capital used for market making will be provided by PI.
QA/QC AND QUALIFIED PERSON
The analytical work on the Hyder project will be performed by MSALABS a certified, analytical services provider, at its laboratory in Langley, British Columbia. All samples will be prepared using procedure PRP-910 (dry, crush to 70% passing 2mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns) and analyzed by method FAS-111 (30g fire assay with AAS finish) and IMS-130 (0.5g, aqua regia digestion and ICP-AES/MS analysis). Any samples containing >10g/t Au were reanalyzed using method FAS-415 (30g Fire Assay with gravimetric finish). Samples containing >100 ppm Ag and/or >1% Cu, Pb, & Zn are reanalyzed using method ICF-6 (0.2g, 4-acid digest and ore grade ICP-AES analysis). Samples containing >1000 g/t Ag were reanalyzed using method FAS-418 (30g fire assay with AAS finish) and samples containing >20% Pb were reanalyzed using method STI-8Pb (volumetric titration).
The reported work was completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standard, blanks and duplicates into the sample stream. The Qualified Person has reviewed the data and detected no significant QA/QC issues.
Andrew Hamilton, P.Geo., Consultant to the Company, is a Qualified People under NI 43-101, will oversee the 2023 Program and has reviewed and approved the scientific and technical content of this release.