Noka Resources Plans Drill Program at Tully West Gold Property
Vancouver, British Columbia, March 21, 2017 – Noka Resources Inc. (TSXV: NX) (9BR1: Frankfurt) (the “Company” or “Noka”) is pleased to announce that it is planning an initial drill campaign to follow up on a gold intercept of 36.7 g/t Au (uncut) over 6.3 meters drilled by SGX Resources Inc. (“SGX”) in 2013 on its Tully West Gold Property (refer to SGX Resources Inc’s press release dated September 26, 2013 on www.sedar.com).
Dominic Verdejo, President and CEO of Noka commented, “We look forward to commencing an exploration program to test the western extension of the Tully Gold Deposit, previously explored by SGX Resources in 2013. The historical drill result of 36.7 g/t gold over 6.3 meters drilled along strike to the west of the Tully Gold Deposit with identical geological characteristics is significant and merits further exploration and a follow-up drill program.”
The Tully West Gold Property hosts the western extension of the Tully Gold Deposit and is situated approximately 33 kilometres northeast of Timmins, Ontario. Step out drilling in 2013 by SGX encountered high grade gold mineralization in drill hole #13-38, which intersected 36.7 g/tonne Au (uncut) over 6.3 metres, 200 metres vertically below surface. This intercept occurred approximately 300 metres west of the previously established limits of the Tully Gold Deposit. Coarse visible gold was observed in the drill hole within a broad zone of mineralized quartz and carbonate veining within the host altered volcanic tuff, identical to the main Tully Deposit to the east.
The host volcanic tuff unit is readily detectible by geophysics and has been traced for over 2,000 metres in both eastern and western directions away from the main deposit. The Tully Deposit is interpreted to be a series of auriferous shallow dipping (extensional or ladder) stacked vein sets within a sub vertical competent mafic tuff host that is bounded by ultramafic volcanic rocks to the south and sediments to the north. This host sequence of rocks all lie within a regional east-west fault corridor, a northern splay from the Porcupine-Destor Fault. The Tully Gold Deposit has been drilled over a 1,000 metre strike length to date, and to depths of over 600 metres, remaining open along strike and to depth.
Noka Resources Inc. (TSX.V: NX) is a Canadian junior exploration company focused on mineral exploration in North America. The Company is focused on advancing exploration activity on the Birch and Uchi Gold Properties adjacent to the Springpole Gold Deposit (controlled by First Mining Finance (FF: TSXV)) in the Red Lake Gold District of western Ontario and the Tully West Gold Property located northeast of Timmins, Ontario. The Company’s goal is to secure and explore quality mineral assets in the Americas.
All technical information in this press release has been reviewed and approved by Peter Caldbick, P.Geo. Mr. Caldbick is a Qualified Person for the purposes of National Instrument 43-101.
On Behalf of the Board of Noka
President and CEO
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This press release contains "forward-looking information" that is based on Noka’s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Noka’s exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Noka’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Noka disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.