JIULIAN RESOURCES INC. (TSX-V: JLR) (“Jiulian” or the “Company“) is pleased to report results for the remaining seven diamond drill holes (BK-19-003 to BK-19-009) at its wholly-owned Big Kidd Property (“Big Kidd” or the “Property”), located near Merritt, British Columbia. BK-19-005 returned 0.46 g/t AuEq* (0.31g/t Au, 0.11% Cu) over 204m** and BK19-009 returned 0.38 g/t AuEq* (0.21g/t Au, 0.13% Cu) over 214.5m**. Six drill holes targeting the Big Kidd Breccia zone have intersected appreciable widths of Au-Cu porphyry style mineralization and alteration.
Big Kidd 2019 Drilling Highlights:
- All holes drilled into the Big Kidd Breccia Zone have intersected appreciable widths of Au-Cu porphyry style mineralization and alteration within the Big Kidd Intrusive Complex and surrounding Nicola Volcanics;
- 2019 drilling has successfully expanded the boundaries of the mineralized Big Kidd Breccia Zone to the North, South, West and at depth;
- BK-19-009 was designed to test for a deeper-seated source of mineralization, as indicated by increasing alteration and chalcopyrite:pyrite ratios at depth in the 2019 drilling. The hole intersected a second mineralized breccia body from 420-644.3m (EOH) with stronger and still increasing alteration, but unfortunately was terminated in mineralization with strong alteration due to difficulties with a deviated hole.
A total of 4191.5m of drilling has been completed in 9 drill holes. A table with up to date drill hole data, and significant intercepts are listed below.
|Hole ID||UTM83E||UTM83N||Zone||Elevation (m)||Depth (m)||Azimuth||Dip|
Table 1 – 2019 drill hole data
|Hole No.||From (m)||To (m)||Interval (m)**||Au g/t||Cu %||Au Eq g/t*|
Table 2 – 2019 Drill Holes BK-19-004 to BK-19-009: Significant Intercepts.
*Gold equivalent (AuEq) grades are calculated using 200 day moving average metal prices of: gold US$1269.00/oz., and copper US$2.80/lb. Gold equivalent grade is calculated as AuEq (g/t) = Au (g/t) + Cu%*1.379. The factor for copper (1.379) will change depending on the metal price. The metal price numbers listed above were used to determine the conversion factors presented herein. Metal recoveries have not been applied in the gold equivalent calculation.
**The intervals reported represent drill intercepts and insufficient data are available at this time to state the true thickness of the mineralized intervals. All gold values are uncut.
Drill Holes BK-19-001, BK-19-002, BK-19-004, BK-19-005, BK-19-006, BK19-008, and BK-19-009 were designed as step outs from known areas of mineralization and all holes intersected >100 meters of Au-Cu Porphyry style mineralization and alteration. The results for drill holes BK-19-001 and BK-19-002 can be found in Jiulian Resources News Release dated April 15th, 2019.
Drill Hole BK-19-003 was a short hole designed to test the northern boundary of the Big Kidd Breccia Zone. The northern contact of the Big Kidd Breccia and the Nicola Volcanics was encountered at approximately 6 meters depth and contained no significant intercepts.
Drill Hole BK-19-007 was drilled to test a geophysical charge ability anomaly identified from the ground IP survey completed in late 2018 (see NR: January 21st, 2019) in the Big Brother zone. High concentrations of pyrite were encountered in Nicola volcanic rocks, indicative of the halo around a porphyry system. No significant intercepts were encountered in BK-19-007.
The potassic alteration encountered at the bottom of BK-19-009 is very encouraging and the Company is currently evaluating the recent drill results and is designing a deep drill hole, approximately 1 km in length, which would test for deeper-seated mineralization below the BK Breccia.
The Company further announces Sheng (Sam) Wang Jiulian’s Chief Financial Officer and director has resigned to pursue other opportunities. Jiulian wishes to thank Mr. Wang for his contributions during his two-year tenure. Jiulian has commenced the search for Mr. Wang’s replacement and the Company will take the time necessary to find a suitable candidate. In the interim, Terese Gieselman, a director of the Company, will assume the role of Acting Chief Financial Officer.
A 2019 drill plan map is included in this news release. Additional material about the project can be downloaded from Jiulian Resources Inc. website at: www.jiulianresources.com
All drill core was logged, photographed, cut and sampled by Jiulian Resources Inc. personnel. Prior to shipment to ALS Global’s sample preparation facility in Kamloops, BC, certified reference material standards, blanks, and pulp duplicates were inserted at a ratio of approximately 1 in every 20 drill core samples. Samples were prepared in Kamloops by crushing the entire sample to 70% passing -2mm, riffle splitting off 1kg and pulverizing the split to better than 85% passing 75 microns. After preparation in Kamloops, the prepared pulps were shipped to ALS Global’s analytical laboratory in North Vancouver, BC. The gold assays are determined by Au-AA26 fire assay method which reports results in parts per million (ppm) (equivalent to grams per tonne (g/t)).
Base metal assays are first determined using the ME-MS61 method (four acid digestion with ICP-MS finish), which reports results as parts per million (ppm). All analyses that reach the overlimits of ME-MS61 are reanalyzed with an Ore Grade method. The analytical results are verified with the application of industry standard Quality Control and Quality Assurance (QA-QC) procedures.
Independent Director of Jiulian, Scott Dorion, P.Geo., is the designated Qualified Person of the Company as defined by National Instrument 43-101 and has reviewed and approved the technical information contained in this release.
Jiulian is an exploration company engaged in acquiring and advancing mineral properties located in southern British Columbia. The Company’s flagship asset is the wholly-owned, 4,056-hectare Big Kidd property, located near Aspen Grove, BC. The Big Kidd property is located 25 km (approximately 15 minutes via Highway 97C) east of Merritt, BC, and 102 km west of the Company’s head office in Kelowna, BC. The Property has a network of gravel roads, LTE cellular service and a high-voltage power line running across it. Jiulian Resources is listed on the TSX-V under the symbol “JLR”.
ON BEHALF OF THE BOARD OF DIRECTORS OF
JIULIAN RESOURCES INC.
“X. Charlie Cheng”
Chief Executive Officer
For more information regarding this news release, please contact:
Oliver Friesen, Director
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including: that the Company’s financial condition and development plans do not change as a result of unforeseen events, that the Company obtains required regulatory approvals, that the Company continues to maintain a good relationship with the local project communities. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company’s Management’s Discussion and Analysis reports filed under the Company’s profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.
Neither the 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.