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VANCOUVER, British Columbia, June 08, 2026 (GLOBE NEWSWIRE) -- Canadian GoldCamps Corp. (CSE: CAMP) (OTC: SMATF) (FSE: A68) announces the receipt of new gold analytical results from a high-resolution re-sampling program completed on drill core and mineralized material from the Company’s flagship Mercator Gold Project in the Caniapiscau district of northeastern Québec.
George Yordanov, P. Geo., President & CEO commented: “(…) The 25 cm re-sampling program has provided a more detailed view of gold distribution within the Mercator system. Of the 111 individual samples collected from previously identified mineralized intervals (…) approximately 82% returned gold values above detection limits, supporting the continuity of mineralization across the intervals tested, demonstrating the widespread distribution and continuity of gold mineralization within the horizons tested. (…) The program also identified additional higher-grade intervals that are currently undergoing verification and confirmatory analytical work. Results from this ongoing review are expected to be reported in a subsequent news release (…) The data generated through this program will help refine exploration targeting and support the next phase of work at the Mercator Gold Project (…).”
Figure 1. Regional map showing the location of the Mercator Gold Project in the Caniapiscau district of northeastern Québec. The map illustrates the project’s position within a prospective gold-bearing geological belt and highlights nearby infrastructure, regional exploration activity and the extent of the Company’s land package.
The program consisted of 111 sub-samples cut at 25 cm intervals from previously mineralized intervals in drill holes MCT-22-08, MCT-22-11 and MCT-22-03, as well as from three additional mineralized zones currently under characterization (identified internally as Zones Unid-1, Unid-2 and Unid-3). All samples were analyzed by Impact Geosciences (IGS) in Delson, Québec using Pb-Fusion Fire Assay with ICP-OES finish (RDL 0.006 ppm Au). The results further support the interpretation of a stratiform gold system hosted within granulite-facies silicate-sulphide banded iron formations (BIFs) of the Meridian Zone.
Table 1 — Drill Hole Collar Locations, Orientations and Re-Sampled Interval Depths
Notes: Collar coordinates are reported in NAD83 / UTM Zone 19N (EPSG:26919); collar elevations (Z) are metres above sea level. Azimuth and dip describe the orientation of each drill hole at the collar. Re-sampled intervals are downhole sample-interval depths (metres) measured from the collar; the 25 cm sub-samples reported in this release were cut within these intervals. Reported composite grades are the previously disclosed weighted-mean gold grades over the mineralized intervals subsequently re-sampled at 25 cm support. Reported interval lengths are downhole core lengths; true widths are not known. Collar, survey and interval data are sourced from the Stelmine Canada Ltée drill database transmitted to MRNF/SIGÉOM (22 March 2024). This information is disclosed in accordance with NI 43-101 section 3.3(2)(b).
Highlights of the 25 cm Re-Sampling Program
Geological Setting: Mercator’s Granulite-Facies BIF System
The Mercator Property is positioned in the southeastern Churchill Province of the Canadian Shield, in the Caniapiscau district of northeastern Québec, approximately 170 km west of Fermont. The property covers 113 mineral claims (≈58.6 km²) along a regional NE-trending metasedimentary belt characterized by strong magnetic and electromagnetic responses attributed to iron-rich metasediments and silicate-sulphide-bearing banded iron formations (BIFs) metamorphosed to the granulite facies.
Gold mineralization at Mercator is hosted within stratiform silicate-sulphide BIF horizons intercalated with paragneiss, pyroxene-bearing gneiss and minor mafic intrusive units. These iron formations consist of finely banded layers of (i) quartz ± chert; (ii) garnet-pyroxene assemblages dominated by iron-rich ferrosilite (orthopyroxene) and hedenbergite (clinopyroxene); and (iii) pyroxene-sulphide layers carrying variable proportions of pyrrhotite (typically 1–65 vol.%), arsenopyrite, löllingite, pyrite and chalcopyrite. Accessory minerals include grunerite (Fe-amphibole), stilpnomelane, pentlandite, nickeline, sphalerite and native gold.
Petrographic studies completed on representative drill core and channel samples (Arguin, 2022, 2023; reproduced in the Mercator NI 43-101 Technical Report) demonstrate that visible native gold occurs in four distinct microenvironments: (a) as inclusions filling porosities within arsenopyrite–löllingite intergrowths; (b) associated with amphibole + carbonate + tourmaline alteration in proximity to pyrrhotite mineralization; (c) in late microfractures cross-cutting silicate gangue; and (d) within composite epidote–pyrrhotite ± chalcopyrite ± graphite assemblages. This four-fold textural occurrence is consistent with a syn- to post-metamorphic remobilization of an originally stratabound (BIF-hosted) gold endowment, and it explains the highly variable gold distribution observed at the centimetre scale — precisely the rationale for the 25 cm sub-sampling program now being reported.
Whole-rock geochemistry on previously analyzed Meridian Zone material indicates a clear positive correlation of gold with arsenic, copper, total iron (as Fe₂O₃), manganese (MnO) and sulphur, and a negative correlation with Al₂O₃, TiO₂ and CaO. Arsenopyrite and löllingite together form a pervasive trace-to-1.5 vol.% sulphide population throughout mineralized intervals, and elevated arsenic concentrations (>200 ppm As) serve as a reliable pathfinder for gold targeting. The Company expects the pending multi-element results to allow further geochemical fingerprinting of the high-grade bands identified by the current re-sampling program.
Surface and shallow-drilling work previously completed by Stelmine Canada Ltd between 2020 and 2023 established a 1.7 km gold-mineralized corridor along the Meridian Zone, with channel and grab samples returning weighted-mean values of 0.55 to 5.10 g/t Au over channel lengths of 1.2 to 27.5 m, and individual bands of rusted pyroxene–garnet–arsenopyrite material reproducibly returning 1–10 g/t Au. The 2022 heliborne drilling campaign (13 holes, 1,937 m) tested the down-dip continuity of this corridor and returned, among others,
Historical drill intercepts most relevant to the current re-sampling program include 2.62 g/t Au over 17.80 m in hole MCT-22-08, 1.13 g/t Au over 9.00 m and 1.12 g/t Au over 4.25 m in hole MCT-22-11, and 1.13 g/t Au over 9.75 m in hole MCT-22-03. The 25 cm sub-sampling results now confirm that these composite intervals contain individual sub-meter BIF bands returning grades significantly higher than the composite weighted mean, providing valuable information for future geological modelling and exploration targeting should the project advance to economic studies.
Methodology
The re-sampling program was designed to refine the spatial distribution of gold within historically mineralized drill core intervals (and selected mineralized outcrop material) by progressively reducing the sampling support from the original 0.5–1.5 m channel/core lengths to a uniform 25 cm support. This sampling resolution is appropriate to the centimetric–decimetric banding of the BIF protolith and is consistent with industry best practice for high-nugget systems hosted in iron formations. The 111 sub-samples were submitted to Impact Geosciences (IGS), an independent ISO-grade commercial laboratory located in Delson, Québec. The analytical method was a 30-gram Pb-Fusion Fire Assay with an ICP-OES finish, validated against gravimetric Fire Assay (FA-GRAV-Au) for high-grade samples, with a reported detection limit of 0.006 ppm Au (Hoffman et al., 1998; IGS SOP FC-MP-SAA/ICP).
Quality Assurance and Quality Control
The Company implemented a rigorous quality-control protocol consisting of insertion of Certified Reference Materials (Oreas 236, certified value 1.85 ppm Au), preparation blanks and laboratory replicates throughout the analytical batches. All five inserted CRMs returned recoveries between 0.978 and 1.054 of the expected value, well within the 1–2 σ confidence envelope of the certificate. All blank samples returned gold values below the reportable detection limit (<0.006 ppm Au). Replicate analyses on selected high-grade aliquots, including the peak 22-011-14 sub-sample (6.77 g/t Au / 6.99 g/t Au), confirmed acceptable intra-sample reproducibility for a system known to host centimetric high-grade bands and visible gold textures.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by George Yordanov, P.Geo., M.Sc., a “Qualified Person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Yordanov has personally verified the sample chain of custody, the analytical certificates issued by Impact Geosciences and the underlying QA/QC data summarized in this release.
On behalf of the Board of Directors
“George Yordanov”
President & Chief Executive Officer
Canadian GoldCamps Corp.
About Canadian GoldCamps Corp.
Canadian GoldCamps Corp. (CSE: CAMP / OTC: SMATF / FSE: A68) is a Vancouver-based mineral exploration company focused on the discovery and advancement of gold and critical-metals projects in the Province of Québec. The Company’s flagship asset is the Mercator Gold Project, a 113-claim, ≈58.6 km² property in the Caniapiscau district of northeastern Québec, optioned from Stelmine Canada Ltée. Mercator hosts a confirmed, stratiform high-grade gold system within granulite-facies silicate-sulphide banded iron formations along a 1.7 km mineralized corridor. The Company is also assembling a strategic position in critical metals — including rhenium and nickel-copper-PGE — across multiple under-explored districts of Québec.
g.yordanov@canadiangoldcamps.com
www.canadiangoldcamps.com
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