Prize Mining (PRZ.V) has now received all assay results related to its summer 2017 exploration program on the Daylight and Toughnut properties. As mentioned before, the company took a total of 1266 soil samples and an additional 326 rock samples. Of those rock samples 92 were grab samples and 234 were composite samples.
Some of those samples showed very high gold grades with for instance 20 g/t gold and 188 g/t silver from the Toughnut adit, whilst the Black Witch zone returned up to 5.58 g/t gold and 1.73 g/t silver. According to CEO Feisal Somji, this has resulted in Prize being able to define no less than 41 targets, which will obviously be the center of attention in the Phase II and Phase III exploration programs, which will start in September.
Sampling results don’t necessarily mean much, but the upcoming drill program will be the real test for the Daylight and Toughnut properties. Prize will now fine-tune the 41 exploration targets to some high-priority trenching and drill targets, which means the final quarter of this year will be action-packed. And the timing might be right, as the gold price broke through the $1325-level earlier this morning.
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The author has a long position in Prize Mining. Prize Mining is a sponsor of the website. Please read the disclaimer
