Dark Horse Designs Maiden Drilling Program at Tampere Gold Project, Commencement Expected in Q4  

Summary

• Dark Horse has designed initial drilling campaign at the Finland Tampere Gold Project, with the objective of advancing towards defining JORC Resources within the next one-year period.
• Drilling is planned to begin in Q4 and target the most advanced Hopeavuori permits along with several priority targets at Kalliojärvi and Metsäkylä deposits.
• First phase of drilling program to include 10 drill holes with 1,070 metres of drilling, while second phase would cover further 1,000 metres in the Hopeavuori permits.

Diversified metals explorer, Dark Horse Resources Limited (ASX:DHR) has announced that the design of initial drilling program at the Tampere Gold Project in Finland has been successfully completed.

The Company in June this year had unveiled to have signed a partially binding term sheet with Sotkamo Silver AB for the project, and on 14 August 2020, the Permit Purchase Agreement was signed. Consequently, seven (7) gold exploration permits, Tampere Gold Project, are being transferred to one of Dark Horse’s recently floated Finnish subsidiaries, with the process slated to be completed in the upcoming months.

For Detailed Discussion: Dark Horse Acquires Finland Gold and Sweden Tungsten Projects

Dark Horse Gears up for Maiden Exploration Drilling Program at Tampere Gold Project

The maiden drilling program is planned to commence in the last quarter of 2020. Further, negotiations are underway to involve a renowned, experienced and well-respected drilling company as is the permitting, logistical planning and development of a supervisory technical team on the project site.

Dark Horse aims to advance on the Tampere Gold Project to define the JORC mineral resources in the upcoming 12 months. Over the past months, the technical team has been compiling and evaluating all historical geological records and designed an extensive and structured exploration program.

The drilling program will focus on testing the advanced Hopeavuori permits along with several priority targets at Kalliojärvi and Metsäkylä, comprising several thousand metres of diamond drilling in known mineralisation areas to test their extent along the strike of mineralisation structures. The drilling program will target the known thick, high-grade gold mineralisation structures as defined by previous explorers and Sotkamo.

Drilling at the Hopeavuori Main will test the presence and continuity of high-grade mineralisation within the 2 main interpreted north-south trending structures. Further, the extent of high-grade mineralisation to the south along the north south trending structures will be tested and assessed. The data from the 2 historical drill holes will also be used to compare mineralisation and assess further.

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First Phase to Include 10 Drill Holes

The first phase of drilling program will comprise of 10 drill holes over 1,070 metres. The drill holes will be drilled east at an angle of 40-45 degrees to target steeply dipping high-grade mineralisation.

The drill holes will range between 50 and 100 metres to infill between the existing drill holes along with the targeted strike and depth extensions. The drill holes will be conducted in order of the priority of the targets and may make further adjustments as the structural information arrives.

Further, a second phase of drilling is planned with over 1,000 metres of drilling at the Hopeavuori permits. The second phase of drilling aims to-

• Increase the drill density and pursue any high-grade shoots identified with further creation of a detailed resource model.
• Pursue the mineralisation westwards towards several other targets in the western part of permits.
• Coincident magnetic and IP anomaly located between the Hopeavuori West and Hopeavuori Main within the mineralised corridor. A drilling activity of roughly 500 metres is planned at this anomaly.

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Dark Horse may consider further 500 metres drilling to test the existing interpretation of structural controls at the Kalliojärvi and Metsäkylä mineralisation zones. Further, several other drilling opportunities at the Tampere gold prospects may be pursued.

In the update, the Company highlighted that although the historical exploration data presents an accurate representation of Tampere but is not sufficient in the present form to disclose in compliance to the JORC 2012 reporting code. While the sufficiency of historical exploration data for presenting or estimating JORC 2012 complaint reserves or resources remains ambiguous, the initial drilling campaign may be crucial in complementing the historical exploration data for classifying mineral resources or reserves in compliance to JORC guidelines.

Next Steps

Funding for Drilling Program - During the last two months (July and August), the Company raised ~$2 million and is currently progressing towards raising another $343,000 (before costs). The funding would enable the Company to comfortably cover its plans for gold exploration drilling in Finland and Argentina.

Related: Dark Horse’s $343,000 Private Placement to Aid Gold Projects’ Exploration and Development

DHR traded at $0.003 a share on 7 September 2020 (AEST 11:23 AM), with a market capitalisation of $12.11 million.