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Astorius Resources Ltd.
Summary
| Project: | Rainbow Canyon | |
|---|---|---|
| Deposit: | Rainbow Canyon | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 7/6/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 6-7-2017: Astorius Resources Ltd. announces an Exploration/Drilling Update report for its Rainbow Canyon deposit at the Rainbow Canyon project. Drilling results incl. 9.14m @ 3.69ppm Au from 100.58m. Vancouver BC, July 6, 2017, Astorius Resources Ltd. (TS | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Clinton Smyth (n/a) | |
| ABSTRACT: | Vancouver BC, July 6, 2017, Astorius Resources Ltd. (TSX VENTURE: ASQ) ("Astorius" or the "Company") is pleased to announce that it has received encouraging results from an initial six hole RC program at the north-eastern end of its Rainbow Canyon gold property in Nevada – the first known drilling ever to have taken place on the property. Highlights of the drilling results are: Rainbow Canyon is a 417 hectare low-sulfidation gold prospect located in the northern Walker Lane structural and metallogenic domain. Andesites, basalts and rhyolites of the Miocene Alta and Old Gregory Formation underlie most of the property. Forty kilometers to the southwest of Rainbow Canyon the Alta Formation is also host to the world-renowned Comstock Mine, a low sulfidation lode deposit which produced 8.4 million ounces gold. Eight kilometers to the north-west of Rainbow Canyon the Olinghouse gold deposit has reported a non-43-101-compliant resource of slightly over one million ounces of gold (Wilson et al, 1999). A total of six holes were drilled for a total of 2,780 feet (847m). Five holes targeted a NE trending corridor of gold-mineralised quartz veins dipping to the SE, and one hole targeted a second smaller corridor SE of the main mineralised corridor. Table 1 below lists location and drilling results for each borehole, and Figure 1 below shows the collar locations of holes drilled. Borehole logging results and downhole profiles for a number of elements in hole RCR-03 are shown in Figure 3 | |
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