Drilling in northeastern K2 in felsic rocks intertwined with small gabbro plug series, SW of Patwon discovery, along prospective shear zone gold corridor

NE K2 (4km north of Opinaca fault): series of small gabbro plugs within felsic volcanics

K2: South of Opinaca Fault Area

MONTREAL, June 21, 2022 (GLOBE NEWSWIRE) — Dios Exploration (“Dios”) (TSX-V: DOS) plans a promising drill program 4-5 km north of Opinaca fault in NE K2 property, James Bay, Quebec, in felsic volcanics intruded by a series of small gabbro plugs, 9 km SW of Patwon discovery, along prospective shear zones, in same geological formation as is underlying Azimut’s Elmer property.

Contacts of these small magnetic gabbro plugs intertwined with felsic volcanics are good structural targets due to rheological contrasts. NE K2 area is also crosscut by two NE-SW shear zones and hosts two east-west kilometric VLF anomalies associated with sulfidic mineralization (including SDBJ showing: 1.08% Cu & 13.8 g/t Ag), which is locally well sericitized and silicified. Hundred m south, Dios had discovered Badji (centimetric pyrite-chalcopyrite stringer showing in foliated strongly sericitized dacite with 5.39 g/t Au, 111 g/t Ag, 5.05% Cu). Several grabs had yielded anomalous gold (0.170-0.265 g/t Au), silver (up to 19.7g/t Ag), copper (0.2-0.6% Cu) within felsic volcanics with few work completed.  

Drilling is planned after prospecting (at least 2 km favourable strike) and infill soil-sampling. NE K2 is a few km NE of a major gold-copper-silver bearing volcanic dome lying on top of large porphyry, itself on top of Kali intrusive.

Ten drill holes are planned for 2000-2500 m including a few ones on Cardamom to the north within altered volcanics directly north of Sesame QFP intrusion. Three east-west EM-input fit with short 1 km-strike Airborne IP chargeable zone confirmed by low magnetic EW structure. Cardamom is not outcropping but directly east of EW structure, an EW felsic dyke returned 2.69 g/t gold. Cardamon is located 5km up-ice of goldbearing altered felsic volcanic boulders (6.72 g/t Au) and associated to well-defined kilometric gold-in-till (WI-target) anomaly.

South of Opinaca Fault lies a different age geological formation where were identified ground IP conductors or VLF. Five of them were drilled last Fall for 1,355 m and they all returned notable amounts of pyrite-pyrrhotite up to semi-massive to massive sulfides.

Just south of Opinaca Fault lies an extensive (3.5 km-long minimum) ENE magnetic lineament/VLF-IP conductor (A-48) extending along northern flank of Solo volcanic syncline. It is hosted within volcanic/tuffs and cherty sulfurized sediments. Its northeastern extent is coincidental with a good chargeable IP conductor (P-11). B-horizon soil-sampling across this unit produced anomalous gold values (up to 120, 240 & 54ppb Au) and copper values (140, 150, 150 & 450ppm Cu) along VLF conductor. This A48 Anomaly is a perfect fit with CARDS Artificial Intelligence (90%similar to gold model) target generated by Windfall-Geotek.

Hole 15 targeted P-11 hitting a 36.7m-thick sequence (101.40-136.20m) of carbonated chert alternating with cm graphitic argillite horizons that averages 3-15% pyrrhotite (pyrite) stringers with local concentrations up to 20-70% over half-meters sections. Laminated chert returned 0.126 g/tAu on 0.80m and 0.281 g/tAu on 0.45m.

One km SW, hole 16 targeted southward extent of P-11 (A-48 VLF conductor with gold-in-soil anomalies), hitting 4 m of laminated chert with altered graphitic argillite and intermediate tuffs hosting 1-7% pyrrhotite(pyrite) stringers, then 4 m of chert/intermediate tuffs with 5-20% Po-Py stringers and 1.5m of altered intermediate tuffs with sullfide traces and then massive sulfides (80% Po, 10% Py, tr-Sp for 0.024g/t Au/2.85m. Sulfide-rich section (42.40-56.25m) assays 0.012 g/t Au with 1m at 0.032g/t Au.  

Hole 17 was drilled in section from same set-up (dip-67 vs -50 for 16), hitting similar sequence of laminated chert with argillite/tuffs hosting 2% pyrite and 2% pyrrhotite (25.35-41.00m); gabbro-granodiorite dykes (41-45m) with 1-8% po(py), alternating graphitic argillite/intermediate tuffs/chert with 2-6% Po-Py stringers (45-71.4m) and massive sulfides (80% Po, 10% Py, tr-Sp for 0.026 g/t Au/7.7m (71.40-79.10m). Sulfide-rich section (41-79.10m) yields 0.012g/t Au, with 1m at 0.034g/t Au in massive sulfides.

One km SE of hole 15, two main IP conductors were targeted within an extensive wet swamp (P06 and P07). Following field checks, two drill locations were solid enough for drilling. Hole 13 targeted a very chargeable section of P07. Hole 14 is located 800m further east and is moderately chargeable and more resistive. Both holes intersected a thick (70-100m) sequence of alternating intermediate ash, lapillis and crystal tuffs/ graphitic argillites/ laminated mafic and felsic tuffs variably mineralized with 1-15% disseminated (& in stringers) pyrrhotite-pyrite(traces-sphalerite) overlying biotite wackes. As indicated by IP, hole 13 hit more sulfides: 5-15% Po(Py) stringers between 118.75-144.50m and 1-5% Po(Py) stringers between 144.50-187.20m. Hole 14 hit 1-3% Po(Py) stringers with few minor metric sections of 4-5% Po stringers within moderately silicified rocks (43.70-149.45m). Gold associated to sulfurized sequence is low (up locally to 0.012g/t Au). Some minor zinc (sphalerite) was encountered within silicified fractured/brecciated sections (0.127% Zn on 4.5 m (0.204% Zn on 2.05m)).

Under supervision of Harold Desbiens, Geo M.Sc., 43-101 Qualified Person and V.P. of Dios, core was sampled at 51 % following industry standards and quality controls. Gold assays (AA-24) were undertaken at ALS in Sudbury, Timmins and Vancouver.

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.

Contact information :
Marie-José Girard, Geo M.Sc., 43-101 QP
President
mjgirard@diosexplo.com
Tel. (514) 923-9123                         Website: www.diosexplo.com

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/ee29aa1d-168b-4426-92ab-ebd1ff65b16d

https://www.globenewswire.com/NewsRoom/AttachmentNg/cdb5f3b4-0e04-4227-8947-2c5b8f1039bd