Antler Gold Provides Namibian Exploration Update and Highlights Ongoing Progress

September 14, 2023

Halifax, Nova Scotia – (Newsfile Corp. - September 14, 2023) – Antler Gold Inc. (TSXV: ANTL) (“Antler” or “Company”) is pleased to provide a corporate update, emphasizing its commitment to a diversified business model that generates both short and long-term revenue opportunities.

Highlights

• New license for the prospective Paresis Gold Project issued, located in northern Namibia within the ‘gold corridor’ that hosts the Otjikoto (B2Gold), Ondundu and recently discovered Eureka gold deposits (Osino Resources).
• New license issued on the Onkoshi Gold Project in central Namibia bordering to the south-east of the known Erindi and Vredelus gold prospects.
• New license issued for the Ziggy Cu Project in southern Namibia with historical grab sample grading 13% Cu. 

“Antler's project generation strategy has yielded tangible results, which have translated into successful option and purchase agreements, resulting in not only financial gains but also potential valuable royalty and equity interests. Our geologists remain engaged in evaluating prospects across Southern Africa, securing a pipeline of opportunities for future exploration partnerships. Looking ahead for the rest of 2023, our priority lies in bolstering our project portfolio, while advancing existing joint ventures and reinforcing our commitment to expanding our current offerings,” said Christopher Drysdale, CEO of Antler Gold Inc.

Exploration Summary

Paresis Gold Project, Namibia 

The Paresis Gold Project (PGP) licences lie within the ‘gold corridor’ that hosts the Otjikoto (B2Gold), Ondundu (0.9 Moz @ 1.13 g/t), and recently discovered Eureka gold deposits (Osino Resources). The PGP is targeting intrusion-related gold mineralisation within the complex and surrounding geological environment. These deposits share an Au-Bi-Te-As metal signature and an association with post-orogenic intrusions. The presence of three cycles of both volcanic and plutonic events along with structural complexity present optimal conditions for the deposition of rare and precious metals. Deposit types to be investigated include sheeted vein-systems, vein-disseminations in carbonaceous rocks and intrusion-proximal to outer-aureole types.

The Paresis Igneous Complex is a Cretaceous-aged (135-120 Ma) alkaline igneous complex (occasionally classified as peralkaline) situated within the Northern Zone (NZ) of the highly fertile Damara Orogenic Belt. Historical exploration conducted by Goldfields, during the late 1980’s, targeting epithermal gold associated with caldera structures and anomalous gold values of 100-200 ppb were recorded for units associated with the complex.

Antler is targeting intrusion-related gold mineralisation within the complex and surrounding geological environment. Deposit types to be investigated include sheeted vein-systems, vein-disseminations in carbonaceous rocks and intrusion-proximal to outer-aureole types.

The Environmental Clearance Certificate has been issued and exploration can commence on the license. Initial desktop geophysical interpretation of regional airborne magnetic and radiometric data will be done to map the responses of the Damaran bedrock. Soil and calcrete sampling campaigns are also planned for the first phase of the project.

The license holds the same stratigraphic units that host the Otjikoto Gold Mine (B2Gold) and recent Eureka gold discovery (Osino Resources). The license it situated approximated 20 km south-east from the town of Outjo in the Otjozondjupa region (Figure 1).

Figure 1: Map of the location of EPL 8711 within the Paresis Gold Project.

Onkoshi South-East (SE), Namibia

Onkoshi SE is situated on a newly awarded Exclusive Prospecting License, EPL 8991, contiguous with EPL 7464, forming part of the main Onkoshi Gold Project which is an Antler PG project (see Press Release dated April 13, 2022:  Antler Gold Announces Agreement to Acquire the Onkoshi Gold Project in Namibia) (Figure 2). The license area holds a target similar to the WIA Gold Kokoseb Gold Project ((ASX: WIA) MRE of 1.3 Moz at 1.0 g/t Au), a granite dome-like feature that presents a potential source of mineralising fluid and heat, along with favourable structural complexity for deposition of precious and rare metals. 

The area of interest on the Onkoshi SE licence contains a roughly circular magnetic body, ~6km across, coinciding with syn-tectonic granite intrusives (Salem Igneous Suite) and is situated ~30 km from the historic Erindi and Vredelus gold prospects (EPL 7464). The magnetic body appears to form a potato-like feature around which the Swakop Group metasediments of the Damara sequence are wrapping.

The Onkoshi SE Gold Project is targeting intrusion-related gold mineralisation within the complex and surrounding geological environment. The presence of extensive granite plutonism in this area along with potential structural and chemical traps between the granite and metasediments present optimal conditions for the deposition of rare and precious metals. Deposit types to be investigated include sheeted vein-systems, vein-disseminations in carbonaceous rocks and intrusion-proximal to outer-aureole types.

An application for an Environmental Clearance Certificate is underway. Initial desktop geophysical interpretation of regional airborne magnetic and radiometric data will be completed as soon as possible. Reconnaissance mapping and rock chip sampling campaigns are planned.

Figure 2: Location of the two Onkoshi Gold Project EPL’s, EPL 8991 and EPL 7464.

Ziggy Cu Project, Namibia 

The Ziggy Cu project is situated on a newly awarded Exclusive Prospecting License, EPL 8937 located in Mooifontein, near Helmeringhausen in southern Namibia. Copper mineralisation on the project is closely linked with a shear zone which is located within amphibolite-grade gneisses of the Namaqualand Metamorphic Complex (Figure 3). The geological setting of the mineralisation at Mooifontein consists of a 10–15 m wide zone of intense structural deformation which can be followed for over 5 km. Quartz veins are associated with the shear zone and define a wider zone of up to 200 m. Numerous massive ironstone pods are contained within the shear zone, while malachite staining is common in zones between 1–2 m wide.

Limited historic exploration work has been done on this prospect and is limited to a few pits and four diamond drill holes drilled in the 1970’s which were not sampled. Much of the shear zone, covered by a thin veneer of Nama Group sediments, was never prospected and may host similar mineralised structures which are presently concealed. More recently, in 2008, a historical rock grab sample with noticeable malachite staining taken from the shear zone was submitted for assaying and returned 13% Cu (Figure 4). 

To explore this shear zone more comprehensively, fieldwork encompassing mapping, sampling, and ground geophysics is planned, particularly in areas that are underlying younger Nama Group sediments. The license it situated approximately 5 km south-east from the town of Helmeringhausen in the Karas Region.

Figure 3: License location of the Ziggy Cu Project.

Figure 4: Grab sample taken in the shear zone at the Ziggy Cu project – historical assay result of 13%.

About Antler Gold Inc.

Antler Gold Inc. (TSXV: ANTL) is a Canadian listed mineral exploration company focused on project generation and organic royalty creation in Africa’s Top-Ranked Jurisdictions. The Company continues to assess new regional opportunities with the aim of building a  diversified business model, that allows the company to generate short and long-term revenue opportunities whilst providing stakeholders with exposure to potential multiple returns that are generated from the discovery process.

Historical Sample Results

Historical sample assay results were obtained from previous exploration activities conducted by other entities and may not comply with current standards for quality assurance. While these results provide valuable geological information, they should be treated with caution and not solely relied upon. The Company has not independently verified these historical results, and they are presented here for reference purposes only. The Company plans to conduct its own sampling and analysis to confirm and update the data in compliance with current regulatory requirements.

Qualified Person

The technical and scientific information in this presentation has been reviewed and approved by Oliver Tors: Pr.Sci.Nat., B. Sc (Hons)., Exploration Manager of the Company, who is registered Professional Natural Scientist (Pr.Sci.Nat. No. 120660) with the South African Council for Natural Scientific Professions (SACNASP) who is a Qualified Person as defined by NI 43-101. Mr. Tors is an employee of Antler Gold Inc. and is not independent of the Company under NI 43-101.

Cautionary Statements

This press release may contain forward-looking information, such as statements regarding the exploration properties and activities. This information is based on current expectations and assumptions (including assumptions relating to general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from results suggested in any forward-looking information. Antler Gold does not assume any obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by securities laws applicable to Antler Gold. Additional information identifying risks and uncertainties is contained in the filings made by Antler Gold with Canadian securities regulators, which filings are available at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact Christopher Drysdale, CEO of Antler Gold Inc., at +264 81 220 2439

To view the source version of this press release, please visit: https://www.newsfilecorp.com/release/180608/Antler-Gold-Provides-Namibian-Exploration-Update-and-Highlights-Ongoing-Progress