Breaking Mining Stock News: New Destiny Mining (TSXV: $NED.V) Drilling
Update: Hole 6 Intersects Copper Mineralization and Porphyry Dikes; @NEDminingcorp
Vancouver, British Columbia- August
21, 2024 (Investorideas.com Newswire) New
Destiny Mining Corp. (TSXV: NED) (the
"Company" or "NED") provides a further update on its 2024
exploration program at the Treasure Mountain project, near Princeton, BC.
Drilling
continues at the Treasure Mountain property with six holes completed so far for
a total of 1060 meters cored. All the holes have been drilled in the Railroad
area of copper-silver mineralization.
Paid news dissemination on behalf of New
Destiny Mining
Read this news, featuring NED in full
at https://www.investorideas.com/news/2024/08211NED-Drilling-Update-Hole-6-Copper.asp
Hole
6 (TMN24-06) targeted a distinct magnetic anomaly revealed in regional survey
data that is centered just north of the Railroad zone. The magnetic high
anomaly measures about 1km in diameters and is interpreted to be caused by an
intrusion at depth. The target is a possible mineralized porphyry intrusive
that could be the feeder to the Railroad copper zone (Figure 1).
A
mineralized zone was intersected from 19.33 to 26.93 (7.6 meters) characterized
by disseminated, veinlet and breccia hosted chalcopyrite and pyrite (1-2%
each). The mineralized zone lies adjacent to a 7.3 m interval of altered
porphyry dike. The hole was drilled to a total depth of 429.3 meters and
intersected multiple altered felsic porphyry dikes. A total of 24 intervals or
70.6 meters length (16% of the hole) consisted of altered felsic porphyry. The
results confirm the presence of porphyry intrusive related to the magnetic
anomaly.
Hole
6 also drilled beneath a copper soil anomaly that extends to the limit of a
2015 soil survey and includes values up to 730 ppm (Figure 2).
Hole
7 is being targeted at another area of anomalous copper in soils (values to 112
ppm copper) located southeast of the Railroad adits (Figure 2). In 2019, an
attempt to trench this area was unsuccessful due to swampy ground, so the
anomaly remained untested. Malachite copper mineralization is present in the
road cut near the planned position of this hole.
The
Treasure Mountain property covers 10,819 hectares and is located 38 km west of
the Copper Mountain mine at Princeton in southern BC. Targets on the property
include critical minerals in porphyry copper-moly deposits, and gold-quartz
vein and polymetallic silver-rich vein deposits.
Figure
1. Map showing trace of hole TMN24-06 drilled to test a 1km diameter regional
magnetic anomaly
Figure
2. Color grid map of Cu ppm from Railroad 2015 soil survey, showing location of
Hole TMN24-06 and planned location of hole 7
Map
showing Treasure Mountain property and targets for 2024
Readers
are cautioned that historical records referred to in this News Release have
been examined but not verified by a Qualified Person. Further work is required
to verify that historical records referred to in this News Release are
accurate.
Dr.
Mathew Ball, P.Geo., a Qualified Person as defined by NI 43-101 and consultant
to the Company, approved the technical information contained in this News
Release.
ON
BEHALF OF THE BOARD OF DIRECTORS
"Al
Beaton"
Director
604-488-3900
Investor
Relations:
Lubica
Parilakova
Forward-Looking Information
This
news release includes certain statements that constitute "forward-looking
information" within the meaning of applicable securities law, including
without limitation, the Company's information and statements regarding or
inferring the future business, operations, financial performance, prospects,
and other plans, intentions, expectations, estimates, and beliefs of the
Company. Such statements include statements regarding the completion of the
proposed transactions. Forward-looking statements address future events and
conditions and are necessarily based upon a number of estimates and
assumptions. These statements relate to analyses and other information that are
based on forecasts of future results, estimates of amounts not yet determinable
and assumptions of management. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance (often,
but not always, using words or phrases such as "expects" or
"does not expect", "is expected", "anticipates"
or "does not anticipate", "plans", "estimates" or
"intends", or stating that certain actions, events or results "may",
"could", "would", "might" or "will" be
taken, occur or be achieved), and variations of such words, and similar
expressions are not statements of historical fact and may be forward-looking
statements. Forward-looking statement are necessarily based upon several
factors that, if untrue, could cause the actual results, performances or
achievements of the Company to be materially different from future results,
performances or achievements express or implied by such statements. Such
statements and information are based on numerous assumptions regarding present
and future business strategies and the environment in which the Company will
operate in the future, including the price of gold and other metals,
anticipated costs and the ability to achieve goals, and the Company will be
able to obtain required licenses and permits. While such estimates and
assumptions are considered reasonable by the management of the Company, they
are inherently subject to significant business, economic, competitive and
regulatory uncertainties and risks including that resource exploration and
development is a speculative business; that environmental laws and regulations
may become more onerous; that the Company may not be able to raise additional
funds when necessary; fluctuating prices of metals; the possibility that future
exploration, development or mining results will not be consistent with the
Company's expectations; operating hazards and risks; and competition. There can
be no assurance that economic resources will be discovered or developed.
Accordingly, actual results may differ materially from those currently
anticipated in such statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include continued
availability of capital and financing and general economic, market or business
conditions, the loss of key directors, employees, advisors or consultants,
equipment failures, litigation, competition, fees charged by service providers
and failure of counterparties to perform their contractual obligations.
Investors are cautioned that forward-looking statements are not guarantees of
future performance or events and, accordingly are cautioned not to put undue
reliance on forward-looking statements due to the inherent uncertainty of such
statements. The forward-looking statements included in this news release are
made as of the date hereof and the Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as expressly
required by applicable securities legislation.
Neither
TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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Destiny Mining Corp. (TSXV: NED) is a featured mining stock on
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