Calgary, Alberta - (Marketwired – July 26, 2017) – PRIZE MINING CORPORATION (“Prize” or the “Company”) (TSXV:PRZ ) (MQSP:GR:FRANKFURT) is pleased to report that Phase 1 fieldwork as previously announced on June 10th and June 28th, 2017 is now completed at the Daylight and neighboring Toughnut gold properties, located near Nelson, British Columbia.
Terralogic Exploration Inc. of Cranbrook BC successfully executed the Phase-I infill soil geochemical program, detailed prospecting and geological and structural analysis on the Daylight and Toughnut gold properties. High-resolution ground based magnetic & VLF-EM geophysical surveys were also completed on the Daylight property group. A geophysical survey on the Toughnut property will overlap with Phase-II work.
Field crews will mobilize back onto the site in August to initiate Phase 2 with Phase 3 drilling to commence as originally planned in early September.
As part of the soil geochemical survey, a total of 1289 soil samples were collected over 32.23 line-km on the Daylight and Toughnut properties combined (450 and 839 soil samples, respectively). Sampling density, including historical samples, is now at 50mX25m in both areas.
In addition to soil sampling, 326 grab and composite rock samples were collected at historical working sites (historical trenches, adits, dumps etc.), along new road cuts and as part of the prospecting and structural mapping campaign.
Terralogic personnel instituted and maintained a rigorous and independent QA/QC program throughout the duration of fieldwork of Phase-I exploration program. Sample chain-of-custody was instituted with sample analysis being completed by Bureau Veritas, in Vancouver BC, utilizing ICP analysis of rocks (MA250) and soils (AQ252), with additional gold fire-assay analysis (FA430) of all rock samples and screen-metallic assay (FS631) of select high-grade samples.
Strategic portions of the soil geochemical survey area were covered with high-resolution ground based magnetic & VLF-EM geophysical surveys. A tightly spaced, 50m line-spacing, was designed to outline subtle lithological and structural changes that may contribute to the formation of ore bodies. The survey was performed by an experienced operator using a GSM-19W walking magnetometer and VLF-EM unit.
Prize will use a combination of the above information to refine upcoming Phase-II trenching and Phase-III drilling programs later in 2017. Assay results are expected to be available in August 2017.
In addition to the above geological work, a baseline environmental water quality sampling program was initiated during Phase-I. Masse Environmental out of Nelson, BC helped design a 16 creek sampling program in anticipation of bulk sampling activities planned for the Daylight and Kena properties. TerraLogic personnel was trained by Masse Environmental to conduct sampling. Samples were sent to Maxxam Analytics, in Burnaby BC. All 16 creeks will be sampled once a month over the next year in pursuance of a minimum of 5 samples during high flow conditions and 5 samples during low flow conditions.
About Prize Mining Corp.
Prize is a Calgary-based junior mining issuer with offices in Calgary, Alta., and is listed on the TSX Venture Exchange. Prize is engaged in the acquisition, exploration and development of mining properties. Find out more at: www.prizemining.com.