Blackwolf confirms Golden Triangle discovery, British Columbia

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Blackwolf Copper and Gold Ltd. [TSXV-BWCG; OTC PINK-BWCGF] has reported initial assay results from the Swann Zone at the Harry property, confirming a significant gold discovery in the Golden Triangle, northern British Columbia.

Results from H23-017 include 312 g/t gold and 101 g/t silver over 1.0 metre and 291 g/t of gold with 118 g/t silver over 1.0m. These two intervals occur within a wide zone of multiple, overlapping phases of sulphide mineralization and quartz veins. The high-grade gold occurs within coarse gold veins similar to those at Newcrest/Newmont’s Brucejack Mine, north of the Harry property and Ascot’s Premier Mine, currently in development to the south. The property, strategically situated in the Golden Triangle northwest of Stewart BC, has road access located between the previously producing Scottie Gold Mine and the historically significant Premier Gold Project.

Further assay results from this hole, as well as the remaining 6 holes in the program, are still pending. Additionally, assays are also pending from the Cantoo Property, located south of Harry and west of the Premier Mine.

Highlights: Discovery of high-grade gold and silver, one of the most exceptional intercepts in the Golden Triangle in recent times.

First Assays received hit two bonanza grade gold zones in the same drill hole, including H23-017 that returned 29,098 g/t AgEq (silver equivalent) or 312 g/t gold and 101 g/t silver, over 1.0 metre from 139m to 140m. H23-017 returned 25,862 g/t AgEq or 277 g/t gold and 118 g/t silver, over 1.0 metres from 199 to 200 metres.

Newmont’s BruceJack style gold system with ultra-high grade quartz-gold veins.

Silver Equivalent values were calculated using Au USD/oz $1,850 and, Ag USD/oz $20. Values do not consider metal recoveries.

Blackwolf’s CEO, Morgan Lekstrom commented“I extend my sincere congratulations to our entire team for this remarkable discovery. We place great emphasis on Rob McLeod’s exceptional expertise in the area, which played a crucial role in this discovery. The Swann zone, like BruceJack, bears the imprint of the McLeod family’s exploration and area knowledge. We are not only thrilled by the exceptional high-grade nature of this discovery, but also the tremendous value it holds for our shareholders. Notably, BruceJack was acquired for USD$2.7 billion by Newcrest and stands as one of the most prominent high-grade underground mines in North America. I firmly believe that we have the potential to develop another similar system. Leveraging our deep understanding of the area, coupled with the ongoing glacial recession, we are strategically positioned to not only make new discoveries but drive them forward. Stay tuned as this is the first page in the story of Blackwolf’s discoveries.”

Rob McLeod, Blackwolf’s Executive Chairman stated, “Growing up in nearby Stewart, BC and being part of a family with a long lineage of mining and exploration in the Golden Triangle, I have an appreciation for the rewarding nature of gold discoveries. These early-Jurassic systems often host deposits of exceptionally high-grade, analogous to those found in BruceJack, which can be successfully mined at these exceptional grades and widths as well as the upper levels of the historic Premier mine, the richest gold mine in North America during the 1920s. Making discoveries in the mining industry is often challenging, but to make one in this area is very exciting.”

The northwest-trending Swann Zone on the Harry property is typified by multiple, overlapping phases of quartz and sulphide veins. The sixth drill hole completed in 2023 encountered coarse, visible gold in one of these vein phases. Based on previous surface sampling and limited drilling by Optimum Ventures, these different vein phases can host significant gold, silver and/or base metal-rich mineralization that can include pyrite, galena, sphalerite, tetrahedrite and other sulphosalt minerals. These multiphase, structurally complex and evolved metallogenic systems have similarities to other high-grade gold-silver deposits in the Golden Triangle such as Brucejack.

2021 Swann Zone Near Surface Drilling Highlights: Hole S21-3 intersected 15.64 mettres grading 1,437 g/t AgEq (433.4 g/t Ag, 3.10 g/t Au, plus significant base metal credits). Hole S21.4 intersected 9.26 metres grading 1,833 g/t AgEq (690.15 g/t Ag, 1.64 g/t Au plus significant base metal credits).

Blackwolf holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska. In addition, the company holds a 100% interest in five Hyder Area gold-silver and base metal properties in southeast Alaska and an option to acquire an 80% interest in the Harry gold-silver property.

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