IRW-PRESS: Cross River Ventures Corp: Cross River Phase 1 Launches in Manitou Gold Project, Northwestern Ontario, Canada
Vancouver, British Columbia, Canada – May 13, 2021 – Cross River Ventures Corp. (CSE: CRVC) (FSE: C6R) (Company) is pleased to announce that field work, including prospecting and mapping, is being carried out on its 6,570-acre Manito Gold project in the Archean Uber subprime , In which the company has a wholly owned interest in Northwestern Ontario, Canada.
Bayside Geoscience has been contracted to conduct a 2-week search program on the Manitou property. It focuses on the evaluation of gold-bearing structures along the Phase 1 field program strike and parallels historical high-grade gold events in the broad northeast trending shear zone intersecting the property. The field team will evaluate the type of mineral and possible extension of the strike, take samples, collect field data for analysis, and consider exploration techniques for further investigation (such as geochemical and geophysical surveys, drilling tests). Historical data review conducted by Cross River’s technical team on the Manitou property indicated the potential for substantial gold performance in the shear zone and the field program will focus on areas identified in preliminary testing and target classification.
On April 22, 2021, the company announced the expansion of the Manitou Project through the acquisition of the Lower Manitou Mineral Concessions, which include a large contiguous area of land. The Lower Manitou Concessions will allow the Cross River to systematically detect future shear zones for strike lengths of more than 8 km, reference extensive geological controls of known events, and discover additional areas with gold potential on the property Will do.
The newly consolidated Manito Gold property is located on the eastern edge of the Archean Eagle-Wabigoon-Manito Lake Greenstone Belt, about 25 miles south of Dryden Township, Ontario. The property consists of rocky metavolanic rock and coarse clastic metametrical rock as well as intensely altered intrusive rock composed of granodiorite porphyry with locally considerable sulfide mineralization. The deformation zone is widespread over the broad and change property, with regional faults and gold-bearing north-north-east trending shear zones.
Exploration work in the Manitou area has been sporadic since the late 1800s to date, and the property has had numerous drilling expeditions and sampling programs in addition to low historical gold production.
St Joes Canada Inc. (1983) drilling, prospecting, sampling and exposure (Ivar J. Riives, 2003; Rubicon Corp; 2005; Manitou Gold, 2011) exposed several north-north-east trending shear zones that intersected the property. did. The most notable mineralization discovered to date is the Queen Alexandria – Bird Island trend (5 parallel northeast trending mineralized shear zones, including rock samples of 78.1 g / t Au with a length of more than 5 km); Prospect (2 km strike length of well-defined sulfide-bearing quartz-flooded shear zone, exceeding 20 feet in thickness, including rock samples of 9.7 g / t Au, 6 g / t Au and drill intersection). 1 m./t t au for 3.36 grams; Manitou Gold, 2011; Revise, 2003; St. Jose Canada; 1983). Both shear zones are open along the strike and the Cross River team believes that there is potential for unused gold mineralization in both the strike extension and parallel structures.
Figure 1: Manitou Gold Project and Nearby Concessions, Northwestern Ontario, Canada
Figure 2: Trend Queen Alexandra-Bird Island and Reliance Shear Zone, Manito Gold Project, Northwestern Ontario, Canada
Later Phase 2 work on the Manitou property will be determined from the results of the first field program and may include additional sampling, targeted geochemical surveys, or geophysical surveys aimed at defining diamond drilling targets.
Ending tehsis option
The company also announced that it has decided not to go ahead with its current option to acquire the Thassis Gold project located on North Vancouver Island. The company resigned the current owner of the project and arranged for some expenses incurred under the original option agreement to reimburse the owner. The company did not make any commitments under the project. The decision to terminate the option was made in Northwestern Ontario to allow the company to invest capital in its project portfolio.
* Samples are inherently selective and may not reflect the correct grade or type of mineral on the property
The technical material published in this press release was published by Drs. Rob Carpenter, P.G., Ph.D., a qualified person as defined by National Instrument 43-101, reviewed and approved. Dr. Carpenter has no close relationship with the company. The company has not verified the historical research results contained in this press release. However, the historical reports referenced were written by skilled geologists and copies of laboratory tests were usually included in the reports
About the company
Cross River Ventures Corp is a gold exploration company focused primarily on the development of high value exploration concessions in prime mining areas. The company has a portfolio of over 28,000 hectares in the northwest of the province of Ontario, Canada, located in very promising areas within or around the high-yield gold-bearing greenstone belt. Cross River common stock trades on CSV under the symbol CRVC.
To the board of directors
Cross Writer Vent Corp.
Alex klenman
CEO
604-227-6610
www.crossriverventures.com
The Canadian Securities Exchange and its regulatory bodies (referred to in the articles of the Canadian Securities Exchange as Regulation Service Providers) assume no responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements. These statements are based on current expectations and assumptions associated with risks and uncertainties. Actual results may vary due to factors described in the Management Details and Analysis (MD&A) section of our interim and most recent annual reports and other reports and documents for filing with the Canadian Securities Exchange and applicable Canadian securities laws. We are not obliged to update any forwarding details except as required by applicable law.
References:
Queen Alexandria MDI: http://www.geologyontario.mndm.gov.on.ca/mndmfiles/mdi/data/records/MDI52F07SW00008.html Manitou Gold Inc
St. Jose Canada Inc. 1983: http://www.geologyontario.mndmf.gov.on.ca/mndmfiles/afri/data/imaging/52F07NW0016/52F07NW0016.pdf
Ivar J. Revis 2003: http://www.geologyontario.mndm.gov.on.ca/mndmfiles/afri/data/imaging/52F07SW2001/52F07SW2001.pdf
Rubicon Minerals Corp 2005: http://www.geologyontario.mndm.gov.on.ca/mndmfiles/afri/data/imaging/200000000007676/20001993.pdf
Manitou Gold Inc. 2011: http://www.geologyontario.mndm.gov.on.ca/mndmfiles/afri/data/imaging/200000000004747/20009983.pdf
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