Contact Gold (C.V) is now halfway its planned 16,000 meter drill program, and the assay results are rolling in at full speed now. Contact has been very successful in expanding the so-called West Target, which is located approximately 1 kilometer north of the Bowl Zone (which hosts the historical resource estimate of 1.4M ounces at 1.5 g/t gold).
The company has now completed 10 holes at the West Target, and every single hole has encountered gold. This doesn’t mean every hole contains economic-grade gold, but it does indicate there’s widespread gold mineralization all over the west target considering some of the holes released by Contact Gold were step-out holes from the initial discovery hole where Contact drilled almost 34 meters of 0.42 g/t gold, with the gold mineralization almost starting at surface.
The West Target now has a strike length of approximately one kilometer, and remains open along strike. On top of the 10 holes that have already been released by Contact Gold, the company plans to drill an additional 8 holes as part of its ongoing drill program. As the West Target is located in the middle of the Bowl Zone and Gold Standard Ventures (GSV, GSV.TO) Jasperoid Wash zone, it now appears these three zones could be connected as part of a very large scale mineralized district.
One kilometer west of the West Zone (and approximately 2 kilometers NW of the Bowl Zone), Contact discovered an entirely new gold zone, now baptised as the ‘Pony Spur zone’. Contact has released the assay results of just 3 holes, but with 21.3 meters containing 0.17 g/t gold, 19.8 meters of 0.21 g/t gold and 27.4 meters containing 0.19 g/t gold, it’s already clear there’s a widespread ‘blanket of gold’ at the Pony Spur zone. 0.2 g/t gold isn’t viable, but these initial results could vector Contact Gold towards economic-grade mineralization.
There seems to be gold all over the place at Pony Creek, and now it’s up to Contact Gold to confirm and expand the resources at the Bowl Zone to define an economic gold project.
Go to Contact’s website
The author has a long position in Contact Gold. Contact is a sponsor of the website. Please read the disclaimer
