GT Gold (GTT.V) released more drill results from its 15,000 meter drill program at Saddle North in December and the company has once again done a great job to provide as much detail and transparency on the interpretation and implication of the six holes that were reported in December.
Holes 141 to 144 were drilled at high angles to historic drill holes at Saddle North in an attempt to confirm the continuity and consistency of the copper-gold mineralization. All four holes have hit the desired target and provided the company’s geologists with more information on how the geological puzzle is fitting together as the holes confirmed the previous interpretation there is a steeply plunging mineralized zone that is now becoming quite sizeable. Of course, it still is early days but with dimensions of 1200-1600 meters by 200-400 meters and 40-450 meters you are looking at a total volume of 9.6-288 million cubic meters (or 27 million tonnes to 820 million tonnes using a specific gravity of 2.85 – note, the 820 million tonnes is quite unrealistic at this point. PI Financial released an update today which used an estimated 90 million tonnes for the higher grade underground resource and this appears to be a reasonable estimate) but those are the numbers coming out of the maximal dimensions at this point) of higher grade mineralization and that is making Saddle North quite attractive.
Holes 141-144 contained very thick intervals of copper-gold-silver mineralization with for instance 657 meters at 0.5 g/t gold 0.33% copper and 1.03 g/t silver and 520 meters containing 0.55 g/t gold, 0.43% copper and 0.92 g/t silver. GT Gold provides detailed descriptions and breakdowns of every hole so we would encourage everyone to have a look at GT Gold’s press releases (LINK) to find additional details.
GT Gold expects to release the assay results of the final four holes any day now (the company was guiding for ‘early to mid January’) and will use the data to put a geological model together for North Saddle by the end of this quarter before designing the 2020 exploration program.
Disclosure: The author has no position in GT Gold but is watching with interest.
