High Desert Gold (HDG.V) has announced a first batch of drill results of the 2013 exploration program at their 82% owned Gold Springs Project in Nevada/Utah, USA.
Of interest is the interval of almost 26 meters at a grade of 0.97g/t gold and almost 1.5oz/t silver, resulting in a gold-equivalent grade of 1.76g/t. This is a very encouraging intercept as a grade of almost 1g/t of gold in an oxide zone near surface is highly economical and might be helpful to increase the overall grade of the project which currently stands at 0.48g/t when using a 0.3g/t cutoff-grade and 0.81 g/t when using a cutoff grade of 0.6g/t.
The other intercepts have a lower grade but it’s extremely encouraging all nine holes contain gold mineralization, which bodes well for a future resource expansion.
High Desert Gold has now completed 22 holes of their planned 100-hole drill program, so we expect a very steady news flow in the next few months. The company seems to be very happy with these drill results and states ‘a new zone of strong mineralization has been found south of the Jumbo resource area in the Shark’s Mouth target, which is located within the larger “Jumbo Trend” that now stretches for approximately 10 km in a north-south direction’.
We hope High Desert Gold will acquire a 100% ownership of the project this year. A full ownership combined with a resource estimate around 1 million gold-equivalent ounces next year might attract interested parties who’d like to vend into this project.
> Click here to read the press release
Disclosure: The author holds a long position in High Desert Gold. High Desert Gold is a sponsor of the website. Please see our disclaimer for current positions.
