At the request of IIROC the company wishes to clarify specific disclosure in the news release titled DIOS hits over 10 grams gold per tonne in outcrop on K2 West Input area - discovers Bousquet mine type boulders associated with WI-Target disseminated on November 15, 2018.
MONTREAL, Nov. 15, 2018 (GLOBE NEWSWIRE) -- DIOS EXPLORATION discovers new gold occurrences on FARWEST CLAIM BLOCK of wholly-owned K2 gold project along an under-explored part of the Lower Eastmain Greenstone belt, James Bay Eeyou-Istchee, Quebec. Preliminary results from grab sampling a surface outcrop returned 10 grams gold per tonne (by fire assay and atomic absorption finish), in the vicinity of the West Input anomalies. Grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property. Many results are still pending, with high sulphide (sulphur) content. This is the first ever discovery of gold in outcrop in that whole area.
Prospecting near WI-Target yielded Bousquet and Doyon mine-type sericitized and silicified dacitic glacial floats/boulders hosting 2-10 percent disseminated pyrite and quartz veinlets assayed 6.72, 0.72, 0.63, 0.443, 0.352 grams per ton gold with minor silver (1-29 g/t Ag) and copper (0.086-0.192 percent Cu) values in grab samples. A series of several kilometre long electromagnetic conductors (EM inputs) and adjacent glacial drumlins were targeted within a poorly outcropping bimodal volcanic domain. Systematic prospecting (glacial boulders/floats) and soil (B- horizon) sampling were carried on the NE drumlins 200-600 meters W-NW of the 2.2 km long WI-Target (9x 2-4channels inputs-EM) and 4.2 km-long A-05 (15x 2-5channels inputs-EM) conductors. Distribution and nature (metric size and angularity) of gold-bearing floats suggest proximal source (probably from adjacent EM conductors).
WI-Target drumlins are also characterized by anomalous gold in B-horizons as ten out of 16 (62.5%) soil samples assayed over 8 parts per billion gold: 8, 9, 10, 15, 19, 20, 21, 30, 49 and 283 ppb Au. New Cinnamon gold showing, 300 meters SE of WI-Target, returned over 10 g/t Au & 2 g/t Ag, hosted by a 0.3 m-wide N255-260 shear (same orientation as WI-Target conductor) with 1% disseminated pyrite in tonalitic intrusion near volcanic contact. Adjacent (down-ice) E-W drumlin yielded 3 anomalous soil-samples assaying 6, 7 & 17 ppb Au.
Along nearby several kilometre long A-05 conductor, prospecting uncovered two metric semi-massive pyrrhotite-pyrite exhalite floats that respectively graded 0.28% Zn, 4.8 g/t Ag & 0.055% Cu, 1.7 g/t Ag.
This press release was prepared By Harold Desbiens, M.Sc. Geo and 43-101 QP. Mr. Desbiens worked for many years for Lac Minerals, at the time owner of Doyon and Bousquet mines.
The FARWEST claim block is located 25 km east of the Eastmain Village, itself located where the Eastmain river flows into James bay. Samples were sent for assays (Au-AA23, fire assay on 30 grams and atomic absorption finish & ME-ICP41) at Val d’ Or ALS Global Laboratory with control inserts following standard industry protocol. Rock samples weighted between 1-2 kg, sometimes 3 kg, and soil samples weigthed 2 kg.
Neither the 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.
President & CEO
mjgirard@diosexplo.com
Tel. : (514) 923-9123
www.diosexplo.com
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/74fedc15-aa61-4033-9aab-064750ab2b08