Flow Metals Confirms Local High-Grade Gold at Glacier Creek

Vancouver, British Columbia--(Newsfile Corp. - March 25, 2021) - Flow Metals Corp. (CSE: FWM) ("Flow Metals" or the "Company") is pleased to report further results from the drill program at the 100% owned Yukon Sixtymile gold project in the traditional territory of the Tr'ondëk Hwëch'in First Nation.

  • 5.6 g/t Au over 1.5 m in SM20-02 from 10.7 to 12.2 m
  • 4.0 g/t Au over 1.5m in SM20-09 from 35.1 to 36.6 m
  • Wider intervals with anomalous gold detected in SM20-14 and SM20-15

Scott Sheldon, CEO of Flow Metals comments: "The RAB drilling at upper Glacier Creek and the results from south of Miller Creek show high-grade gold occurs underneath the placer workings as well as in the intervening mountains with the potential for continuity. Our low-cost drill program proved to be efficient as we confirmed our working hypothesis for the Sixtymile Project by showing the placer gold has a local source. We are keen to follow-up the three mineralized zones at upper Glacier Creek, and our new shallow high-grade target south of the historic Miller Creek."

The Sixtymile placer district is an active gold camp. The three placer operations on the claim have produced over 150,000 ounces of gold. The focus of the recently completed drill program was to confirm a local source for the placer gold.

Drill and trench results

A total of 15 RAB drill holes between 40 - 60 m depth were drilled in the fall of 2020. The drill holes tested a series of structures that were interpreted from a prior ground geophysical survey.

Hole SM20-2 targeted the confluence of two faults and intersected 5.6 g/t Au over 1.5m from 10.7 to 12.2m. SM20-09 targeted a break visible in ground magnetic data where a fault appears to offsets klondike schist from metasediments. This drill hole intersected 4.0 g/t Au over 1.5m from 35.1 to 36.6m.

Five RAB holes and two trenches intersected wider anomalous but low-grade (<200 ppb) gold. The gold in all these intersects is associated with arsenic. The results potentially represent haloes around higher-grade coarse-gold zones. The geophysical and drill data, including downhole OTV surveys will be integrated over the coming months to identify the controls on mineralization, which will lead to enhanced and more efficient targeting for future programs.

Historical drill core from south of Miller Creek was resampled and yielded 12.8 g/t Au over 2.1 m from 41.15m to 43.28m as previously released in news dated February 1st. The company plans to use the same geophysical surveys and targeting methods on the south Miller Creek zones as they have the same rock type and alteration as the targets on Glacier Creek.

Trenching revealed visible gold in arsenopyrite-quartz veins and grab samples ranged up to 0.6 g/t Au. The trenching was performed on a small and discrete zone of coarse-grained placer gold to test the association with bedrock gold.

The intersects and data show that the Sixtymile Project is underlain by a complex auriferous fault set which partly occurs underneath the placer occurrences. The drillhole data is currently being interpreted in the context of regional, project, and occurrence scale geophysics to plan future geophysical programs and drilling. The interpreted dataset will allow for the findings on Upper Glacier Creek to be expanded to the remainder of the claim block.

Ashuanipi, Quebec

The company has engaged IOS Geoscience to execute a two-phase program at the Ashuanipi gold project in eastern Quebec this summer. The project contains numerous AI targets over banded iron formations generated by Windfall Geotek after a 330,000 km AI mining study of Quebec. The project is northeast of Schefferville in the Ashuanipi complex, on the edge of the Superior Province. The company is planning to test these targets using till sampling and channel sampling.

About Flow Metals

Flow Metals is a Canadian gold explorer with a focus on early-stage gold projects in renowned mining districts.

Qualified Person

Adrian Smith is the qualified person for the Company and has reviewed and approved this news release.

QA/QC and Data Verification

RAB chips were collected using a 20/80 splitter, bagged and security tagged, and shipped to MS Analytical in Langley for 500g metallic screen assay.

Historic drill core was drilled in 2010 and 2011 and stored in a placer camp onsite. Core was relogged and certain intervals resampled based on alteration and historic assay results. A total of 107 historic core samples were sent to MS Analytical for 1kg metallic screen assay. The results indicate a large discrepancy between historical fire assay results and metallic screen assays because of heterogeneously distributed and coarse-grained gold on the Sixtymile Project.

MS Analytical operates under strict QAQC protocols using industry standard duplicate, standard, and blank samples.

For further information, please contact:

Scott Sheldon, President604.725.1857[email protected]

Forward-Looking Information

This press release may include "forward-looking information" (as that term is defined by Canadian securities legislation), concerning the Company's business. Forward-looking information is based on certain key expectations and assumptions made by the Company's management, including future plans for the exploration and development of its mineral properties. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/78519

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