September 13th, 2021 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the definition of three gold zones (‘Highlands’, ‘Willie Jack’, and ‘Swan’) at their 100%-owned Atsutla Gold Project, and confirmation of the discovery of widespread visible gold in quartz float. Phase 1 grab sample assay results returned grades as high as 630.04 g/t (18.38 oz/ton) gold (Au) from an area 550 meters away from a newly discovered zone comprising samples with visible gold (Highlands zone). Assays from the Phase 2 program remain pending.
Soil sampling and prospecting have also defined two other gold zones at Atsutla: a 1.25-kilometer-long gold (Au)-arsenic (As)-silver (Ag)-molybdenum (Mo)-tellurium (Te) geochemical anomaly, with soil sample values up to 3,767 ppb Au (‘Willie Jack trend’); and a 900m x 700m Au-As-Ag-antimony (Sb)-copper (Cu)- Mo-lead (Pb) geochemical anomaly, with soil sample values up to 406 ppb Au (‘Swan zone’). The Swan zone anomaly is directly adjacent to a historic molybdenum-copper (Mo-Cu) porphyry prospect that was not previously explored or analyzed for gold.
Daithi Mac Gearailt, CEO of Trailbreaker, commented: “The newly released Phase 1 assay results, coupled with the visible gold discovered during Phase 2, confirm that this is a high-grade gold-bearing system. Considering the size of the current geochemical soil anomalies, along with widespread visible gold found to date, I am very confident that more high-grade results will follow.”
With the addition of recent staking, the Atsutla Gold Project now covers 37,727 hectares and spans 36 kilometers. The project area is located 70 km south of the Yukon-British Columbia border and 130 km northwest of the community of Dease Lake, BC.
The Phase 1 and 2 exploration programs involved the collection of 2,100 soil samples and 532 prospecting rock grab samples, as well as geological mapping.
Efforts were focused on follow-up of the high-grade gold, silver, and copper discoveries made at the Willie Jack zone in 2020, as well as first-pass reconnaissance of newly-staked, unexplored ground southeast of the initial discoveries. The exploration team also completed a first-pass exploration program at the Swan zone, which hosts a historic Mo-Cu porphyry prospect.
Highlands Zone – Location of high-grade gold results and newly discovered visible gold
The Highlands zone is located in the northern area of the Atsutla Gold Project. In 2020, a grab sample of quartz float from this zone assayed 164 g/t (4.78 oz/ton) Au and 257 g/t Ag. Follow-up work in the vicinity of this sample revealed an abundance of similar quartz float 40 meters uphill. Multiple grab samples were taken, six of which assayed over 190 g/t Au (see linked Map 3 – Highlands). The gravimetric gold analytical results for two of these samples yielded values exceeding 1000 g/t Au. Both samples underwent four various forms of re-assaying, including one utilizing a separate laboratory (ALS Canada) for a total of five assay values per sample. The averages of these values for the samples are: 630.04 g/t (18.38 oz/ton) Au with 531.75 g/t (15.51 oz/ton) Ag; and 493.90 g/t (14.41 oz/ton) Au with 472 g/t (13.77 oz/ton) Ag, respectively. While the bedrock source was not directly identified, it is likely the quartz float is sourced from a gossanous, semi-competent granite unit present at the uphill limit of the float samples.
During Phase 2 of exploration at the Highlands zone, a zone of visible gold was newly discovered 550m west of the aforementioned high-grade float. This zone consists of a 20m trend of quartz boulders up to 1m in size with abundant visible gold, pyrite, galena, and arsenopyrite mineralization (assays pending). Additional exploration in this area revealed a trend of visible gold in talus 240m southeast of the boulders. In this area, visible gold and pyrite were observed on the margins of ~10cm wide quartz vein fragments. The vein fragments are proximal float, sourced from a gossanous, semi-competent granite unit. Other similar quartz vein samples with pyrite, galena, and arsenopyrite mineralization were taken from this same unit, but from in-situ bedrock. Assays for all of these Phase 2 samples remain pending.
Willie Jack Trend – 1.25-kilometer-long Au-As-Ag-Mo-Te soil anomaly
The Phase 1 program also involved a significant soil survey along the southwestern margin of the early Jurassic Christmas Creek Batholith, where it lies in contact with older, Permian Kedahda Formation metasediments. This survey was intended to follow-up on a series of soil samples taken in 2020 which returned assays up to 801 ppb (0.8 g/t) Au. The 2021 survey revealed a significant trend of anomalous Au- As-Ag-Mo-Te values, assaying up to 3,767 ppb (3.77 g/t) Au. The trend is at least 1.25 kilometers long, and falls within a broader anomalous gold trend of 6.5 kilometers (see linked Map 4 – Willie Jack). Initial rock sampling along this trend returned values up to 2.06 g/t Au (float); however, assays remain pending for follow-up rock samples of float and bedrock.
Sampling of quartz float and quartz in bedrock indicate that the anomalous gold-in-soil trend is caused by a series of metasediment-hosted, northwest-trending auriferous quartz veins.
Swan Zone – 900m x 700m Au-As-Ag-Sb-Cu-Mo-Pb soil anomaly
History of the Swan Zone
Due to the success of the first pass results at the Willie Jack property (now Atsutla Gold Project), Trailbreaker staked the Swan claims (see Swan news release dated March 22nd, 2021). The Swan claims cover a historical molybdenum-copper porphyry prospect discovered in the late 1960s and explored periodically since then. Despite more than 500 soil and surface rock samples and almost 1,000 meters of shallow diamond drilling, no geochemical analysis for gold was ever completed. Historical geological mapping and drill hole logging indicate a complex intrusive system, comprising widespread quartz- feldspar porphyritic monzonite cut by a variety of felsic and mafic dikes. Molybdenite-pyrite mineralization is closely associated with sheeted quartz veins, quartz stockwork and breccia zones. The historical drilling at Swan intersected broad, low to mid-grade molybdenite mineralization, returning up to 0.06% Mo over 73 meters, as well as several significant silver intercepts including >26 g/t Ag over 3 meters.
Phase 1, first-pass results at Swan
The Phase 1 program at Swan involved the collection of 284 soil samples and 70 prospecting rock grab samples. The bulk of these soil samples were taken on a large, gossanous mountain immediately east of the historical drill holes.
Assay results from the soil sampling have revealed a ~900m x 700m Au-As-Ag-Sb-Cu-Mo-Pb soil anomaly, with soil samples assaying up to 406 ppb Au (see linked Map 5 – Swan). The anomaly occurs within a leucogranite-porphyry unit of the Upper Cretaceous Glundebery Batholith. Limited rock sampling from Phase 1 yielded assays up to 3.17 g/t Au. Gold typically occurs with arsenopyrite mineralization and epithermal quartz veining. Phase 2 involved one day of follow-up work in this area and uncovered significant arsenopyrite mineralization in talus float (assays pending).
Due to the favourable assay results of the Phase 1 program, and the highly encouraging visual results of the Phase 2 program, Trailbreaker Resources has staked an additional nine claims (14,350 ha) at the Atsutla Gold Project. The project area now consists of 28 mineral claims covering 37,727 hectares.
Phase 3 – Airborne survey
A third phase of exploration will be conducted at the Atsutla Gold Project during September, 2021. This phase will involve an airborne magnetic, radiometric, and VLF-EM survey covering the Highlands and Christmas Creek zones, and the Willie Jack trend. It is anticipated the survey will highlight structural features controlling gold mineralization, as well as geological contacts.
Message from the President
“I am incredibly pleased with the recent results at the Atsutla Gold Project. The high-grade nature of the Highlands zone, extent of the Willie Jack trend, and mineral potential of the Swan area provide exciting possibilities. By the end of 2021 we will have a geochemical database of almost 2,700 surface samples as well as a high-definition airborne geophysical survey. Not only that but we have an additional 14,000 hectares of nearly untouched ground to explore. Atsutla is shaping up to be a major gold project!”
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Sample analysis and assaying for all of Trailbreaker’s projects have been conducted by Bureau Veritas Mineral Laboratories Canada in Vancouver, BC, which is an ISO-9001 accredited laboratory. Rock samples were crushed, split and pulverized to a 250 g pulp passing through a 200 mesh screen (prep code PRP70- 250). For gold analysis, a 50 g split underwent fire assay with an ICP-ES finish (FA350-Au). Samples assaying
>10 ppm Au were re-analyzed with a gravimetric finish (FA550-Au). Samples also underwent 37-element analysis involving aqua regia digestion and ICP-ES/MS analysis (AQ200). Soil samples were sieved to 80 mesh (prep code SS80) and underwent a 37-element analysis involving aqua regia digestion and ICP- ES/MS analysis (AQ201).
Rigorous quality assurance procedures are in place regarding sample collection, chain of custody and data entry. Certified QA/QC standard and blank reference samples are routinely inserted into the sample stream to ensure integrity of the assay process. The reader is cautioned that grab samples are single rock samples typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of metal values. These do not necessarily provide an accurate representation of the tenor of the targeted zone sampled.
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker’s BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
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Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.