Contact Gold (C.V) has already completed almost 6,000 meters of drilling in 47 holes during its 2021 drill program and released the assay results of the first six holes last week. The headline result was an interval of just over 47 meters of 1.45 g/t gold (including 1.68 g/t gold over a 38.1 meter long interval) starting at a depth of 50.3 meters down hole on the Charlie Zone, but some of the other intervals are quite decent as well.
As you can see in the image below, there have been some decent intervals at the Bravo zone as well with 12.2 meters of 0.89 g/t gold starting pretty close to surface, but with the caveat the cyanide recovery levels were a bit low. Elsewhere at Bravo, the drill bit continued to intersect grades that should for sure be economic in Nevada, but with relatively narrow intervals of for instance 7.6 meters and 6.1 meters. It’s great to find gold, but in order to build tonnage (and ounces) the project would benefit from the wider intervals like the 47.2 meter long zone at Charlie.
This doesn’t mean the drill update is bad as the company was focusing on rapidly expanding the oxide gold footprint on the Green Springs project and the with four of the six holes Contact reported on containing mineralization far above the usual cutoff grade for Nevada oxide gold operations, Contact is rapidly improving its understanding of the project.
The drill program is still in full swing, and Contact Gold seems to be trying to get its shareholders excited about the Tango target, which has never been drilled. Contact Gold has completed 19 drill holes at Tango, and we are looking forward to seeing the assay results from that specific zone as Contact’s technical team is still working towards connecting all the dots.
Disclosure: The author has a long position in Contact Gold. Contact is a sponsor of the website. Please read our disclaimer.
