As expected, Contact Gold (C.V) is now gradually receiving the assay results from the 2022 Green Springs drill program back from the lab. In an update released earlier today, Contact released the assay results from the two last holes drilled on the X-Ray target. Hole HS22-04 is excellent, absolutely excellent, with in excess of 41 meters containing 1.95 g/t gold. While this was fueled by a higher grade interval of 15.24 meters containing 3.71 g/t gold, the residual value of the almost 26 meters still exceeded 0.90 g/t.
Hole GS22-21 wasn’t as impressive but finding an interval of almost 52 meters with an average grade of 0.58 g/t starting at a depth of just 13.7 meters down-hole is still good considering the usual cutoff grade for oxide-hosted gold deposits in Nevada can be as low as 0.14 g/t.
Contact Gold drilled the five holes at X-Ray from one drill pad as it needs to keep its land disturbance within certain limits until a plan of operations is approved (this process was started last year and we hope to see the plan of operations approval by the end of this year). This means the footprint of X-Ray is still relatively small but as the mineralization appears to be open in multiple directions there’s plenty of additional exploration potential.
Contact Gold also drilled two holes on the B-C Gap Zone and one hole returned 13.72 meters of 0.23 g/t gold. That’s a very low grade and considering the mineralization started at almost 220 meters down hole we should perhaps look at that hole from a purely ‘academic’ perspective: it does confirm the lower Pilot Shale does contain gold mineralization but the extent and viability has yet to be determined.
As the assay results are now rolling in, we can likely expect to see the first assay results from the 2022 drill program on the Tango Zone within the next few weeks.
Disclosure: The author has a long position in Contact Gold. Contact Gold is a sponsor of the website. Please read our disclaimer.
