Last week, NevGold (NAU.V) released additional assay results from the Limousine Butte drill program as it received the results from hole CV22-007 from the lab. There certainly were some expectations for this hole drilled at the Cadillac Valley prospect as hole CV22-006, which was drilled nearby, encountered just over 73 meters of 0.51 g/t gold.
Hole CV22-007 didn’t disappoint either as the drill bit intersected 36.6 meters containing 0.44 g/t gold starting at about 146 meters down-hole. That’s roughly the same vertical depth as the level where the mineralization was encountered in hole CV22-006.
The direction of the new hole was also interesting as it confirms the presence of gold-bearing oxide mineralization towards the west-northwest from the previously interpreted mineralized zone and the image above clearly shows that a mineralized ‘lobe’ is developing on the southern portion of the Cadillac Valley area. And as VP Exploration Derick Unger explains, although the drill bit encountered the major northeast striking fault, it does confirm the fault was an important conduit for the gold-bearing fluids and the CSAMT geophysical surveys can identify the conductive zones associated with the faults and the resistive zones associated with the mineralization.
We can likely expect to see the final results of the 10,000 meter drill program on Limousine Butte shortly.
Disclosure: The author has a long position in NevGold. NevGold is a sponsor of the website. Please read our disclaimer.
