Vancouver, B.C., September 1, 2021, Prophecy Potash Corp. (TSX-V: NUGT) (“Prophecy Potash” or the “Company”) and Eastfield Resources Ltd. (TSX-V: ETF) (“Eastfield”) announce that Prophecy Potash will fund a diamond drilling program on the Indata copper-gold property located approximately 120 kilometers northwest of the community of Fort St. James, British Columbia. The Indata property, totaling 3,189 hectares (7,880 acres), is situated adjacent to the Pinchi Fault Zone with its northern boundary being approximately 7 kilometers south of the southernmost boundary of the Stardust-Kwanika Project (Northwest Copper Corp.: TSX-V: NWST). Terrain is flat to hilly and access is excellent with logging operations currently occurring in the southern region of the property.
The project is permissive for copper-gold porphyry related mineralization, orogenic gold mineralization and limestone hosted CRD mineralization. Previous results have included drill intercepts of 47.26 g/t gold over 4.0 meters (with many lesser values) and porphyry copper mineralization with drill intercepts including 0.20% copper over 148 meters (with 0.37% copper over 24 meters at the bottom of the hole) and trench intercepts of 0.36% copper over 75 meters.
In 2019 work funded by Prophecy discovered a new area of mineralization exposed by recent logging on the edge of a borrow pit selectively assaying 3.65% copper and 5.95 g/t gold confirming the link between copper and gold.
The proposed 2021 program will focus on the Albert Lake copper target located 3 kilometers further to the north of the high-grade 2019 discovery. Sampling completed in 2019 at Albert Lake 500 meters to 1,000 meters to the south of historic results included a number of significantly mineralized samples grading up to 0.48% copper, 0.24 g/t gold and 5.95 g/t silver coincident with a strong induced polarization response obtained in a 2012 survey.
The Indata project is subject to a 2018 option agreement between Eastfield and Prophecy Potash which grants Prophecy Potash the right to earn a 60% interest by paying $400,000 (cash and shares) and completing $2,000,000 in work over a five year term.
This news release has been reviewed by J.W. Morton P.Geo who is the Qualified Person within the context of NI43-101 and who takes responsibility for the technical content in it. For more information in respect of the Indata project, please refer to the Company’s Technical Report dated August 6, 2018 available at www.sedar.com.
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the results of further exploration and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be
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