Contact Gold (C.V) has released a second batch of drill results from its 2023 exploration program at Green Springs, the oxide gold project in Nevada where partner Centerra Gold (CG.TO, CGAU) is earning a majority stake by completing US$10M in exploration on the property. The recently reported holes are three holes drilled on the X-Ray Zone, expanding the known zone to the northeast.
All three holes intersected high-grade mineralization (high-grade for oxide-hosted gold deposits) as hole GS23-10 encountered almost 26 meters of 1.9 g/t gold while holes 11 and 12 intersected 12.2 meters containing 1.41 g/t gold and 10.67 meters containing 1.67 g/t gold respectively. These are high grades over very decent intervals although the mineralization starts close to (or just over) 100 meters down-hole. That was to be expected, as the gold is hosted in the Pilot Shale at the contact point with the Guilmette limestone.
The company is still waiting for the assay results from an additional six holes that were drilled at X-Ray (these are a combination of step-out and offset holes) while the drill program ended at the Tango Zone. A total of 4,028 meters of drilling were completed in 29 holes.
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