MONTREAL, June 09, 2020 (GLOBE NEWSWIRE) -- Dios Exploration Inc. (Dios) is pleased to announce undertaking a contract to carry out line cutting of a 3.2 km long by 700 m to 1.1 km large (200 m-line spaced) grid and a time-domain dipole-dipole induced polarization (IP) survey to better define the Wi-Target on its wholly-owned K2 gold project located in the Elmer Lake area, Itchee-Eeyou James Bay, Québec (n=1 to 6, 25 meter separation). This survey will allow a more precise targeting of the Wi Target for the upcoming late summer-fall drilling program on K2, in strike southwest of Azimut’s Elmer gold discovery.
The WI Target is a non-outcropping 3.6 km long by 150-300 m large airborne apparent induced polarization anomaly coupled with airborne electromagnetic conductor anomalies (Input-Em with 2-3 channels) striking west/west-southwest within felsic volcanics at the western margin of the Kali pluton. Previous work by Dios yielded a 6.72 g/t gold, 0.2% copper, 29 g/t silver from sericitic dacite (with 1-10% pyrite-pyrrhotite+/-chalcopyrite & quartz stringers) glacial float and B horizon soil sampling on adjacent ENE drumlins graded 10 to 283 ppb gold.
About 200 m southeast of Wi-Target, tonalitic outcrops yielded 10g/t gold & 1.81g/t Au in a narrow N255 shear structure (same orientation as WI-Target), confirming strong potential of the underexplored western intrusion-volcanic contact. Dios received necessary approvals from the Cree Nation government to proceed with this work.
Following March and April flow-through share financings of $ 1,060,000 at $ 0.10 per share, a total finder’s fee of $33,000 was paid to an arm’s length party in common shares of Dios (see March 5 and May 1 press releases) for 388,236 shares issued at $0.085 per share to a limited market dealer. This press release was prepared by Harold Desbiens, Geo M.Sc., V.-P. of Dios, Qualified Person pursuant to National Instrument 43-101.
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