Burin Gold (BURG.V): Continues to Drill Broad Zones of Gold Mineralisation Including 36.00 m of 1.08 g/t Au at Hickey’s Pond, Newfoundland

Vancouver, British Columbia–(Newsfile Corp. – July 7, 2022) – Burin Gold Corp. (TSXV: BURG) (“Burin Gold” or the “Company“) is pleased to announce gold assay results from an additional fifteen holes on the Company’s 2022 diamond drilling program at its 100%-owned Hickey’s Pond – Paradise Gold Property, southeastern Newfoundland, Canada.

Highlights

• 36.00 m of 1.08 g/t Au including 12.00 m of 2.27 g/t Au in HP-22-019, 13.40 m of 0.65 g/t Au in HP-22-009, 16.00 m of 0.98 g/t Au in hole HP-22-017
• Broad zones of gold mineralisation now reported over 600 m of strike
• Large high-sulphidation epithermal gold system open along strike and to depth
• Nine drill holes with assays pending at Tower, a large previously untested zone of high-sulphidation alteration located 11 km SW of Hickey’s Pond

David Clark, Burin Gold’s CEO, commented: “I’m very encouraged by the results of this year’s drilling to date at Hickey’s Pond. We continue to intersect broad zones of epithermal alteration and gold mineralisation. Extending our exploration along the 7 km strike of the geophysical anomaly at Hickey’s Pond will be a priority for future drilling, as well as building a solid geological model around the existing drilling to help vector towards potential zones of higher-grade mineralisation .”

These new results, along with previously reported highlights of 16.00 m of 1.57 g/t Au in HP-22-011, 10.65 m of 1.14 g/t Au in HP-22-008, 10.50 m of 1.37 g/t Au in HP-22-013, announced on April 20^th, 2022, represent the first twenty-two holes drilled at Hickey’s Pond to date this year.

A diamond drill was mobilised to the Tower prospect on May 23^rd, 2022, located 11 km SW of Hickey’s Pond. This is a large zone of high-sulphidation alteration with historical surface gold mineralisation that has never been drilled. 1,845 m over nine holes has tested the zone across a strike of 850 m, with assays pending. All holes have intercepted zones of epithermal alteration.

Assay results for Hickey’s Pond drilling program

Gold fire assay results have been received for all twenty-two holes drilled in the Company’s 2022 winter program. Composited length-weighted gold assay results for significant intervals are given below in Table 1. Collar location and orientation data are given in Table 2.

Table 1: Composited gold intercepts for all drillholes completed during the Company’s 2022 Hickey’s Pond exploration drilling program. Intercepts in bold are new in this release, all other intercepts have been previously reported. True thickness is reported when sufficient drilling information exists to permit an estimate, based on the assumed dip of the shear zone, the attitude of the drill hole, and intercepts in nearby drill holes.

A plan map is given in Figure 1, showing the drill collars and traces for all holes completed during the Company’s winter 2022 program, as well as the holes completed by the Company in its scout 2020 program. Two schematic sections are shown in Figure 2 and Figure 3 showing selected 2022 results in the area of Hickey’s Pond. Mineralisation is associated with boudinaged quartz-hematite-alunite alteration and quartz-hematite breccias hosted within a northwest-dipping shear zone. The sections show mineralisation is continuous along strike and open to depth.

Figure 1: Plan map of diamond drill hole traces around the Hickey’s Pond showing

Figure 2: Schematic section through the Hickey’s Pond system, section A-A’ (see plan map). True thickness of intercepted mineralisation is not well constrained by drilling, but the intercept is assumed to be oblique to the dip of the mineralisation. The interpretation here assumes that mineralisation drilled in HP-22-019 is contiguous and downdip of the Company’s 2018 surface channel result of 7.00 m of 3.42 g/t Au, but the Company has not completed sufficient drilling on this section to constrain and estimate true thickness.

Figure 3: Schematic section through the Hickey’s Pond system, section B-B’ (see plan map).

The Hickey’s Pond system has now been tested over 600 m of strike length, and drilling has intercepted broad zones of significant gold mineralisation in many holes. Ongoing exploration drilling will continue to expand the footprint of mineralisation by extending drilling along the large 7 km geophysical anomaly that Hickey’s Pond is centred over, and explore for zones of higher grade within this large mineralised system.

Summer drill program

The Company has outlined several high-priority targets on its large land package and has completed geochemical, geological, and geophysical surveys to better characterise them. Each of these targets represents a centre of epithermal activity which could represent significant mineralisation in the subsurface, and none of them have ever been drilled historically.

The first of these targets to be drilled is Tower, located approximately 11 km to the southwest of Hickey’s Pond, and the first target on the property to be tested outside of Hickey’s Pond. A plan map showing drill collars and traces for drill holes completed at Tower to date is given in Figure 4. A total of 1,845 m of diamond drilling in nine holes have tested the Tower system over 850 m of strike length. All holes have intercepted epithermal alteration consistent with current geological models for these types of epithermal systems. Quartz-alunite schists, quartz breccias and quartz-hematite breccias have been intercepted across the entire length of the system which is open along strike and to depth. The Company will report assay results as soon as they are delivered and have passed internal quality control and cautions that until assay results are received it is not possible to determine whether the high-sulphidation alteration intercepted in the drill holes at Tower contain gold mineralisation or not.

Figure 4: Plan map of diamond drill hole traces around the Tower showing

Sampling, quality assurance & quality control

NQ-sized core samples with nominal lengths of 1.0 m were sawed longitudinally in half. Half-core samples were collected for assay, and the remaining half-core returned to the core box. Appropriate geochemical standards spanning a range of gold concentrations (OREAS North America Inc.), geochemical blanks (locally sourced granite), as well as sample duplicates were introduced into the sample stream following industry best practice guidelines. Core samples were delivered by Company personnel to Eastern Analytical Ltd., Springdale NL, for gold fire assay analysis. The entire sample is crushed, an appropriate subsample pulverised, and a 30 g gold fire assay with atomic absorption instrumental finish performed.

Drill hole collar information

Table 2: Hole collar location data. Positional data is given in UTM zone 21 projection, NAD83 horizontal datum, and CGVD28 HTv2.0 vertical datum. Azimuths are given in degrees relative to UTM north, and inclination in degrees.

About Burin Gold Corp.

Burin Gold is a recently listed public company on the TSX Venture Exchange (TSX-V:BURG). The Company’s principal asset is its Hickey’s Pond-Paradise Gold Project on the Burin Peninsula, Newfoundland. This project contains the Hickey’s Pond gold prospect, drill tested with an initial 1,000 m drill program in 2020 with best results of 10.8 m of 4.43 g/t Au, as well as numerous other historical high-sulphidation epithermal gold showings that have yet to be drill tested. The Company has initiated a 10,000 m diamond drill program on the property in Q1/2022 and expects to be drilling throughout the year.

Qualified Person

David Clark, MSc, PGeo, CEO of Burin Gold, is the Company’s designated Qualified Person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“). He has prepared the technical content of this news release.

Acknowledgement

The Company acknowledges the financial assistance of the Mineral Development Division, Department of Industry, Energy, and Technology, Government of Newfoundland & Labrador, via its Junior Exploration Assistance Program. The program provides valuable financial rebates on exploration expenditures made in the province to qualifying exploration companies. The Company has benefited from the program yearly since 2018.

On behalf of the Board

“David Clark”
CEO & Director

Further Information:
David Clark
CEO & Director
Burin Gold Corp.
1-877-620-4185 – toll free
[email protected]

Forward Looking Statements

Neither 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.

This News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.