Coastal Gold (COD.V, previously called Castillian Resources) has announced it intersected 6.8 meters (true width) of 4.95 g/t gold at its Hope Brook gold project in Newfoundland. This drill hole proves there’s still considerable mineralization left in the footwall of the old mine workings at the project. Coastal has drilled in excess of 3,300 meters in 21 holes this year and the recently announced drill intercepts should help the company to increase the current resource estimate of 1.15 million ounces at an average grade of approximately 1.75g/t.
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Disclosure: The author holds no position in Coastal Gold. Please see our disclaimer for current positions.
