Fri, 20 May 2022

VANCOUVER, BC / ACCESSWIRE / January 27, 2022 / Sassy Resources Corporation ('Sassy' or the 'Company') (CSE:SASY) (FSE:4E7) (OTCQB:SSYRF) is pleased to announce that in addition to the highly prospective Viking target (Dec. 8, 2021 news release) covering approximately 20 sq. km on the western edge of the 490 sq. km Gander North Project, initial soil geochemistry results received from additional areas of Gander North suggest the presence of previously unrecognized large regional structures with potential to continue along a northeast trend for greater than 40 km.

Highlights:

  • Assay results from combined C and B-horizon soils (3,170 total soil samples or approximately 60% of soil samples collected from Gander North to date) highlight multiple northeast and east-northeast trending gold-in-soil anomalies in multiple zones covering the northern, central and southern portions of Gander North;
  • Clusters of high-grade gold results for soils include 58 samples assaying between 50 ppb Au and 756.1 ppb, considered highly anomalous for Newfoundland, including 23 samples ≥ 107.3 ppb Au (see attached figure);
  • Prospecting teams have collected multiple samples of mineralization in quartz and mineralization associated with quartz/quartz veining and country rock at Gander North (assay results pending).

Mr. Shawn Ryan, Sassy Technical Adviser, stated: 'These first pass soil results across broad areas of previously untested Gander North are exceptional for Newfoundland. They demonstrate that this impressive magnetic target (38 km x 10 km) represents either completely new regional structures just 25 km east of the Appleton trend that hosts the New Found Gold and Labrador Gold discoveries, or inboard sub structure(s) 12 km east of the GRUB line (Gander River Ultramafic Belt). Either scenario means Gander North is prime hunting ground for new high-grade discoveries in the Central Newfoundland Gold Belt, another example of the island's vast under-explored potential for new deposits.'

Mr. Ryan continued, 'Gander North consists mainly of the first exploration claims ever staked on this target, covering a distinct district scale regional NNE regional magnetic anomaly. Overlying this feature were anomalous gold-in-till samples from the Newfoundland till survey. Now we have a massive amount of fresh data that puts Sassy (and Gander Gold) on the path to discovery.'

Sampling And Exploration Strategy

Preliminary soil sampling results from wide-spaced grid lines (500 meters) at Gander North prompted immediate follow-up by infilling with tighter grid line spacing (100-250 meters). Infill lines have confirmed the anomalous trends.

The Company will complement geochemistry results with LiDAR and MAG/VLF geophysical surveys when the balance of that work is completed this spring. Additional soil sampling and other exploration initiatives are expected to produce initial high priority diamond drilling targets later this year.

Sassy defines gold-in-soil results ≥90th percentile as elevated and those samples ≥97.5th percentile as anomalous.

Gander Gold Share Distribution

Mr. Mark Scott, Sassy President and CEO, comments on the upcoming Gander Gold share distribution to Sassy shareholders: 'With eight projects covering 2,257 sq. km, Sassy controls one of the largest claim positions in Newfoundland. Early success at Gander North, Mt. Peyton and Sassy's other Newfoundland projects bodes very well for Sassy's Gander Gold spinout.'

Investors are reminded that the date of record for the Gander Gold share distribution to Sassy shareholders is Tuesday, February 1, 2022. Investors are advised to be aware of any settlement period which may apply to share purchases or the conversion of other Sassy securities prior to the February 1 record date. For example, a two-day settlement period may mean that shares purchased on Friday, January 28 are settled on Tuesday, February 1.

Based on the current Sassy share structure, the distribution of 8,8333,333 Gander Gold shares represents a ratio of one Gander share for approximately every 5.8 Sassy shares owned. The final ratio for the distribution of Gander Gold shares will be determined by the number of Sassy shares issued and outstanding as of the date of record.

Gander North Project - Phase I Soil Sample Results (3,170 Samples Outside Viking Target)

Quality Assurance / Quality Control

Sassy Resources Gold Corporation contracted the services of GroundTruth Exploration to conduct soil geochemistry programs on all of Sassy's properties in Newfoundland. The preferred and targeted soil horizon for sampling is the C-horizon for all programs. Glaciation and till deposition are variable throughout the province of Newfoundland. This variation has a direct effect on the 'local' depth to the C-horizon. GroundTruth crews utilize a Eijklcamp hand auger which is capable of collecting a soil sample to a maximum depth of 110cm. If the C-horizon soil is beyond the depth the auger can achieve, GroundTruth crews collected a sample from the B-horizon and noted this in the metadata collected at that particular sample site. At Gander North, outside of the Viking target, the current assay database consists of 2,171 C-horizon soil samples and 999 B-horizon soil samples. As stated, the results reported in this news release comprise the combined C and B-horizons. The Company's final interpretation of all Gander North soil results will distinguish and interpret the C and B-horizons individually and the merged C and B-horizons.

For all Sassy programs, soil samples are collected at pre-determined sample locations, placed in soil sample bags and all metadata associated with a sample is recorded. Once sorted and logged, samples are shipped to Eastern Analytical in Springdale, Newfoundland, for sample preparation. At Eastern Analytical individual samples are dried and sieved and 15g splits are prepared and then shipped by courier to Bureau Veritas Commodities Canada Ltd. (Bureau Veritas) in Vancouver British Columbia for analyses. Eastern Analytical and Bureau Veritas are ISO / IEC 17025 certified laboratories and independent of Sassy Resources Corporation and Gander Gold Corporation. At Bureau Veritas the 15g splits are partially digested by aqua regia digestion and analysed for gold plus 36 additional elements by ICP-ES/MS (method AQ201). GroundTruth Exploration crews took a field duplicate every 25th sample and these field duplicates were inserted into the sample stream to monitor the quality of analyses for the soil sampling program. In addition to field duplicates, standards and a blank material was systematically inserted into the sampling stream for QAQC purposes.

Subscribe for Updates

Photographs and videos from the Company's projects in Northwest B.C. and Newfoundland will be added to the Sassy website over the coming days and weeks. Visit SassyResources.com and sign up for news alerts to stay informed as exploration continues year-round.

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Ian Fraser, P.Geo., Vice President of Exploration for Sassy Resources. Mr. Fraser is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

About Sassy Resources Corporation

Sassy Resources is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal, base metal and uranium projects in North America. Its focus is the Foremore Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.'s prolific Golden Triangle, the Central Newfoundland Gold Belt where Sassy is one of the district's largest landowners, and the recently acquired Highrock uranium project in the Key Lake region of Saskatchewan's Athabasca Basin.

Caution Regarding Forward Looking Statements

Investors are cautioned that, except for statements of historical fact, certain information contained in this document includes 'forward looking information', with respect to a performance expectation for Sassy Resources Corporation. Such forward looking statements are based on current expectations, estimates and projections formulated using assumptions believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Such factors include, without limitation, fluctuations in foreign exchange markets, the price of commodities in both the cash market and futures market, changes in legislation, taxation, controls and regulation of national and local governments and political and economic developments in Canada and other countries where Sassy carries out or may carry out business in the future, the availability of future business opportunities and the ability to successfully integrate acquisitions or operational difficulties related to technical activities of mining and reclamation, the speculative nature of exploration and development of mineral deposits, including risks obtaining necessary licenses and permits, reducing the quantity or grade of reserves, adverse changes in credit ratings, and the challenge of title. The Company does not undertake an obligation to update publicly or revise forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Some of the results reported are historical and may not have been verified by the Company.

Contact Info:

Mark Scott
Chief Executive Officer & Director
info@sassyresources.ca

Terry Bramhall
Sassy Resources - Corporate Communications/IR
1.604.833.6999 (mobile)
1.604.675.9985 (office)
terry.bramhall@sassyresources.ca

In Europe:

Michael Adams
Managing Director - Star Finance GmbH
info@star-finance.eu

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Sassy Resources Corporation



View source version on accesswire.com:
https://www.accesswire.com/685785/Sassy-Identifies-New-Regional-Gold-Trend-In-Gander-Gold-Belt

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