STLR STLLR Gold Inc

STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) (“STLLR” or the “Company”) announces the final assay results from the infill and confirmatory drilling program at the 55 Zone, Westaway and Windjammer North Deposits at the Golden Highway Area (western end) of the Tower Gold Project in Timmins, Ontario, Canada.

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Figure 1: Tower Gold Project - General Location Map (Graphic: Business Wire)

Table 1: 55 Zone, Westaway, and Windjammer North Drilling Highlights (See Figures 2, 3, & 4 for drill hole location map and section views of the 55 Zone drilling):

Deposit

 

Hole ID

 

Result

Westaway

 

MGH23-438

 

4.32 g/t Au over 15.60 m (incl. 6.63 g/t Au over 8.00 m)

55 Zone

 

MGH23-500

 

2.49 g/t Au over 16.00 m (incl. 17.15 g/t Au over 2.00 m)

55 Zone

 

MGH23-381

 

0.88 g/t Au over 43.00 m (incl. 1.45 g/t Au over 17.00 m)

55 Zone

 

MGH23-464

 

2.13 g/t Au over 14.50 m (incl. 4.48 g/t Au over 5.80 m)

Windjammer North

 

MGH23-488

 

0.77 g/t Au over 111.72 m (incl. 1.01 g/t Au over 26.00)

“g/t Au”: grams per tonne gold; “m”: metres

Tower Gold Project Update:

• 135,423 m in 511 drill holes of the 2023 infill drill program have been released.

Keyvan Salehi, P.Eng., MBA, President, CEO, and Director of STLLR stated: “55 Zone infill drilling results continued to intersect higher-grade, near-surface gold mineralization. The results from the 55 Zone provided critical information that allows us to update and refine the Tower MRE block model. The Westaway and Windjammer North infill drilling results continue to confirm the Tower MRE block model. We now have collected all the data from our 2023 infill drilling program.”

Infill Drilling at 55 Zone, Westaway, and Windjammer North

The 55 Zone, Westaway and Windjammer North Deposits are located on the Golden Highway Area (western end) of the Tower Gold Project in Timmins, Ontario (See Figure 1 for the Tower Gold Project - General Location Map). Mineralization at the 55 Zone is associated with the Timiskaming age clastic sediment hosted stacked quartz veins located immediately south of the regional Banded Iron Formation “A” (“BIF A”) unit and the Destor Porcupine Fault Zone (“DPFZ”). The 55 Zone Deposit is characterized by higher-grade, open-pit mineralization located in the western most portion of the Tower Gold Project. The mineralization at the 55 Zone remains open along strike to the southwest. Mineralization at Westaway is associated with extensional and stockwork-type quartz veining within Timiskaming age meta-sediments, located between 2 major splays of the DPFZ. Mineralization at Windjammer North, located immediately south of and parallel to the regional DPFZ, is hosted primarily within altered komatiitic ultramafic rocks of the Kidd-Munro assemblage in contact with basaltic flows.

The 2023 drill program at 55 Zone, Westaway and Windjammer North were focused on confirming and infilling (50 m drill-centre spacings) the Tower Gold Project Mineral Resource Estimate1 (“Tower MRE”). The results at the 55 Zone provided information that allows the Company to update the Tower MRE block model. Drill hole MGH23-500 (See Figures 2, 3, and 4) returned higher-grade mineralization at depth of the deposit, while drill holes MGH23-464 and MGH23-466 (See Figures 2 and 3) returned higher-grade mineralization closer to the surface.

The drilling results at Westaway and Windjammer North appear to confirm the continuity of mineralization as estimated by the Tower MRE block model. This is evident particularly with holes MGH23-436, MGH23-438 and MGH3-488. Overall, the 2023 infill drilling program will provide critical information to update the Tower MRE. The increased drill density has the potential to upgrade the areas drilled to a higher resource category and further define future geological models.

Table 2: Tower Gold – 55 Zone, Westaway, and Windjammer North: Drill Intercepts

Zone

Hole Number

From

(m)

To

(m)

Interval

(m)

Grade

(g/t Au)

Metal Factor (g/t Au x m)

55 Zone

MGH23-371

38.85

49.25

10.40

2.23

23.19

55 Zone

and

61.60

64.45

2.85

0.29

0.83

55 Zone

and

105.00

174.50

69.50

0.61

42.40

55 Zone

including

173.50

174.50

1.00

14.50

14.50

55 Zone

and

224.50

226.50

2.00

2.42

4.84

55 Zone

and

241.50

243.00

1.50

1.91

2.87

55 Zone

and

280.00

286.00

6.00

0.92

5.52

55 Zone

MGH23-381

38.00

49.40

11.40

1.05

11.97

55 Zone

and

58.98

60.00

1.02

1.35

1.38

55 Zone

and

106.00

108.00

2.00

0.61

1.22

55 Zone

and

119.00

124.50

5.50

0.47

2.59

55 Zone

and

129.00

172.00

43.00

0.88

37.84

55 Zone

including

146.00

163.00

17.00

1.45

24.65

55 Zone

and

182.00

184.00

2.00

0.57

1.14

55 Zone

and

186.00

191.02

5.02

0.61

3.06

55 Zone

and

221.00

225.20

4.20

0.87

3.65

55 Zone

and

237.00

238.00

1.00

2.28

2.28

55 Zone

MGH23-389

34.00

40.65

6.65

1.03

6.85

55 Zone

MGH23-394

59.00

66.00

7.00

0.46

3.22

55 Zone

and

104.00

114.30

10.30

0.46

4.74

55 Zone

and

126.00

128.00

2.00

1.73

3.46

55 Zone

and

137.00

141.00

4.00

0.69

2.76

55 Zone

and

158.00

160.00

2.00

1.82

3.64

55 Zone

and

173.00

176.00

3.00

0.67

2.01

55 Zone

MGH23-399

92.00

106.00

14.00

0.58

8.12

55 Zone

MGH23-439

111.00

117.00

6.00

0.44

2.64

55 Zone

and

146.00

147.00

1.00

1.04

1.04

55 Zone

MGH23-442

48.00

60.00

12.00

1.11

13.32

55 Zone

and

95.00

97.00

2.00

1.92

3.84

55 Zone

and

174.00

206.00

32.00

0.90

28.80

55 Zone

MGH23-447

63.00

68.00

5.00

0.54

2.70

55 Zone

and

76.00

82.00

6.00

0.46

2.76

55 Zone

and

124.00

152.00

28.00

0.99

27.72

55 Zone

MGH23-451

68.00

70.00

2.00

0.91

1.82

55 Zone

MGH23-452

92.00

98.00

6.00

0.46

2.76

55 Zone

MGH23-453

72.00

76.00

4.00

0.76

3.04

55 Zone

and

118.00

120.00

2.00

1.13

2.26

55 Zone

and

132.00

138.00

6.00

1.29

7.74

55 Zone

MGH23-457

75.00

81.00

6.00

1.22

7.32

55 Zone

MGH23-459

61.15

64.20

3.05

1.34

4.09

55 Zone

and

77.25

79.00

1.75

5.52

9.66

55 Zone

MGH23-461

44.15

47.90

3.75

4.74

17.78

55 Zone

and

77.50

82.60

5.10

2.31

11.78

55 Zone

MGH23-462

No Significant Intervals

55 Zone

MGH23-464

49.00

63.50

14.50

2.13

30.89

55 Zone

including

49.00

54.80

5.80

4.48

25.98

55 Zone

MGH23-466

45.00

55.00

10.00

2.54

25.40

55 Zone

including

50.65

53.10

2.45

8.01

19.62

55 Zone

and

85.50

89.00

3.50

0.77

2.70

55 Zone

MGH23-491

0.00

0.00

0.00

0.00

0.00

55 Zone

MGH23-497

0.00

0.00

0.00

0.00

0.00

55 Zone

MGH23-498

28.00

38.00

10.00

0.45

4.50

55 Zone

and

52.00

61.00

9.00

1.06

9.54

55 Zone

and

118.00

123.00

5.00

0.71

3.55

55 Zone

and

133.00

137.00

4.00

0.47

1.88

55 Zone

and

236.00

250.00

14.00

0.42

5.88

55 Zone

and

319.00

323.00

4.00

0.97

3.88

55 Zone

MGH23-499

23.00

26.00

3.00

0.63

1.89

55 Zone

and

44.60

46.00

1.40

1.38

1.93

55 Zone

and

73.45

79.00

5.55

0.64

3.55

55 Zone

and

130.00

141.90

11.90

1.41

16.78

55 Zone

and

167.00

173.00

6.00

0.76

4.56

55 Zone

and

189.35

199.75

10.40

1.37

14.25

55 Zone

and

217.93

219.00

1.07

1.53

1.64

55 Zone

MGH23-500

45.00

48.10

3.10

2.81

8.71

55 Zone

and

87.00

89.00

2.00

1.82

3.64

55 Zone

and

97.93

99.36

1.43

1.64

2.35

55 Zone

and

137.35

149.00

11.65

1.03

12.00

55 Zone

and

170.00

172.00

2.00

2.66

5.32

55 Zone

and

182.00

198.00

16.00

2.49

39.84

55 Zone

including

194.00

196.00

2.00

17.15

34.30

55 Zone

and

224.00

238.00

14.00

0.89

12.46

55 Zone

and

261.00

263.00

2.00

1.47

2.94

Windjammer North (WJN)

MGH23-347

51.00

107.00

56.00

0.57

31.92

Windjammer North (WJN)

including

51.00

63.00

12.00

1.09

13.08

Windjammer North (WJN)

MGH23-348

42.60

106.15

63.55

0.77

48.93

Windjammer North (WJN)

MGH23-488

30.00

141.72

111.72

0.74

82.67

Windjammer North (WJN)

including

106.00

132.00

26.00

1.01

26.26

Westaway

MGH23-436

161.50

196.45

34.95

0.61

21.32

Westaway

including

174.42

181.75

7.33

1.46

10.70

Westaway

MGH23-438

267.00

282.60

15.60

4.32

67.39

Westaway

including

267.00

275.00

8.00

6.63

53.04

Westaway

MGH23-445

107.00

109.00

2.00

3.70

7.40

Westaway

and

127.00

130.00

3.00

2.27

6.81

Westaway

and

146.00

154.00

8.00

0.42

3.36

Westaway

and

225.00

229.00

4.00

2.08

8.32

Westaway

MGH23-448

No Significant Intervals

Westaway

MGH23-492

Geomechanical

Westaway

MGH23-495

Metallurgical

Westaway

MGH23-496

Westaway

MGH23-496A

Westaway

MGH23-496B

Westaway

MGH23-501

165.00

169.00

4.00

1.31

5.24

Westaway

and

179.00

183.00

4.00

1.99

7.96

Westaway

MGH23-502

No Significant Intervals

 

Note: All intercepts are calculated using a 0.30 g/t Au cut-off, a maximum of 5m internal dilution and no top cap applied. Drill intercepts are not true widths. Failed holes, Geomechanical and Geometallurgical drill holes are not shown in the section because they were not assayed.

Table 3: Tower Gold – 55 Zone and Westway: Infill Drill Hole Details

Zone

Hole Number

Easting

Northing

Elevation

Azimuth

Inclination

End of Hole Depth (m)

55 Zone

MGH23-371

569208.042

5368884.268

319.815

159.91

-58.02

291.0

55 Zone

MGH23-381

569208.136

5368884.282

319.939

160.17

-53

270.0

55 Zone

MGH23-389

569164.78

5368767.11

318.74

160.05

-54.84

75.0

55 Zone

MGH23-394

569131.995

5368818.866

319.237

160.02

-60.09

180.0

55 Zone

MGH23-399

568992.11

5368743.138

319.339

160.14

-55.14

126.0

55 Zone

MGH23-439

569386.54

5368959.449

319.809

159.98

-56.12

162.0

55 Zone

MGH23-442

569370.275

5368921.703

319.184

159.94

-56.2

213.0

55 Zone

MGH23-447

569343.033

5368878.504

318.485

160.05

-55.99

180.0

55 Zone

MGH23-451

569380.783

5368827.161

318.731

159.9

-56.02

111.0

55 Zone

MGH23-452

569431.476

5368936.017

319.536

160.09

-56.07

111.0

55 Zone

MGH23-453

569460.627

5368912.047

319.311

158.07

-56.09

150.0

55 Zone

MGH23-457

569456.068

5368823.559

321.233

160.1

-56.05

102.0

55 Zone

MGH23-459

569494.598

5368814.063

319.886

160.01

-55.19

111.0

55 Zone

MGH23-461

569478.538

5368865.932

319.302

160.02

-56.06

132.0

55 Zone

MGH23-462

569549.823

5368839.616

319.823

160.01

-55

90.0

55 Zone

MGH23-464

569538.405

5368862.401

319.787

160.07

-55.11

102.0

55 Zone

MGH23-466

569509.29

5368849.081

319.738

160.01

-55.15

102.0

55 Zone

MGH23-491

569345.23

5368850.092

318.884

0.03

-75.03

180.0

55 Zone

MGH23-499

569254.614

5368886.9

319.6

160.14

-56.06

270.0

55 Zone

MGH23-500

569160.087

5368871.18

319.66

160.05

-56

282.0

WJN

MGH23-347

572229.651

5370872.207

330.959

75.12

-61.05

111.0

WJN

MGH23-348

572142.769

5370902.802

329.966

75.27

-61.20

150.0

WJN

MGH23-488

572082.818

5370840.501

329.526

75.03

-60.15

162.0

Westaway

MGH23-436

570133.596

5369021.564

324.801

59

-58.13

270.0

Westaway

MGH23-438

570186.295

5369025.76

321.394

59.05

-57.13

321.0

Westaway

MGH23-445

570142.832

5368980.686

320.739

59.07

-59.1

282.0

Westaway

MGH23-448

570292.983

5369173.108

322.012

59.95

-59.02

180.0

Westaway

MGH23-492

570276.384

5369143.453

322.033

290.08

-74.95

261.1

Westaway

MGH23-495

570225.42

5369148.574

327.02

50.08

-60.03

162.0

Quality Control Procedures NQ drill core is oriented and cut with half sent to ALS Laboratories Inc. (ALS) for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). ALS is an ISO 17025 accredited laboratory. A 50 g charge is Fire Assayed and analyzed using an AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. STLLR inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates, as well as completing routine third-party check assays at Bureau Veritas Commodities Canada Ltd.

Qualified Person John McBride, MSc., P.Geo., Vice President of Exploration for STLLR, who is the “Qualified Person” as defined by NI 43-101 for this project, has reviewed and approved of the technical disclosure contained in this news release.

About STLLR Gold STLLR Gold Inc. (TSX: STLR; OTCQX: STLRF; FSE: O9D) is a Canadian gold development company actively advancing two cornerstone gold projects in Canada: The Tower Gold Project in the Timmins Mining Camp in Ontario and the Colomac Gold Project located north of Yellowknife, Northwest Territories. Each of these two projects has the potential for a long-life and large-scale operation and are surrounded by exploration land with favorable upside potential. STLLR’s experienced management team, with a track record of successfully advancing projects and operating mines, is working towards rapidly advancing these projects.

Forward-Looking Information This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to confirmation of the Tower MRE block model, potential expansion of the known mineralization at the Tower Gold Project, the timing of the release of the assay results, the goals, synergies, strategies, opportunities, profile, mineral resources and potential production, project timelines, prospective shareholding, integration and comparables to other transactions, the future financial or operating performance of STLLR and STLLR’s mineral properties and project portfolios, the advancement of the Tower Gold and Colomac Gold Projects, long-life and large-scale potential of the Tower and Colomac Gold Projects and exploration upside of the land packages. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “accelerate”, “add” or “additional”, “advancing”, “anticipates” or “does not anticipate”, “appears”, “believes”, “can be”, “conceptual”, “confidence”, “continue”, “convert” or “conversion”, “deliver”, “demonstrating”, “estimates”, “encouraging”, “expand” or “expanding” or “expansion”, “expect” or “expectations”, “fast-track”, “forecasts”, “forward”, “goal”, “improves”, “increase”, “intends”, “justification”, “leading”, “plans”, “potential” or “potentially”, “pro-forma”, “promise”, “prospective”, “prioritize”, “reflects”, “re-rating”, “robust”, “scheduled”, “stronger”, “suggesting” or “suggests”, “support”, “updating”, “upside”, “will be” or “will consider”, “work towards”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”.

Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of STLLR to be materially different from those expressed or implied by such forward-looking information, including risks associated with required regulatory approvals, the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current exploration activities, government regulation, political or economic developments, the ongoing wars and their effect on supply chains, environmental risks, COVID-19 and other pandemic risks, permitting timelines, capex, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in the joint management information circular of STLLR dated December 20, 2023, available on www.sedarplus.ca. Although STLLR has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. STLLR does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

____________________________________ 1 For more information on the Tower MRE and Tower PEA effective as of September 7, 2022, please refer to the NI 43-101 technical report titled “NI 43-101 Report & Preliminary Economic Assessment of the Tower Gold Project Northeastern Ontario, Canada” dated November 29, 2022, which is available on STLLR Gold’s profile on SEDAR+ www.sedarplus.ca and www.stllrgold.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20240417536996/en/

STLLR Gold Investor Relations +1 (416) 863-2105 | investors@stllrgold.com | www.STLLRgold.com