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California Gold Mining Inc.
Summary
| Project: | Fremont | |
|---|---|---|
| Deposit: | Queen Specimen | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 4/3/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-4-2018: California Gold Mining Inc. announces an Exploration/Drilling Update report for its Queen Specimen deposit at the Fremont project. Drilling results incl. 10.7m @ 4.08g/t Au from 185.3m. Toronto, Ontario – California Gold Mining Inc. (“California | |
| Resources: | (Resource): 515Koz Au (Ind.) and 364Koz Au (Inf.) contained at project | |
| CP/QP: | [Overall Report]: Vishal Gupta (Internal) | |
| ABSTRACT: | Toronto, Ontario – California Gold Mining Inc. (“California Gold” or the “Company”) announces the fourth set of assay results from the ongoing resource drilling program at the Queen Specimen zone at its flagship Fremont Project (the “Project” or “Fremont”) in Mariposa County, California. Assays for the first nine holes from the current program at Queen Specimen were announced in separate press releases dated February 8, 2018, February 21, 2018 and March 5, 2018, respectively. Today’s results advance the Company’s main objective of generating a second shallow mineral resource on the Property covering the newly identified Queen Specimen mineralized zone. This zone is located in the north-west portion of the Property, and constitutes roughly 750m of strike length, out of the total four kilometers strike of the Mother Lode shear zone (the “Shear Zone”) on the Property. Vishal Gupta, California Gold’s President and CEO, said, “Today’s assays are the highest-grade results received from the Queen-Specimen zone to-date, and amongst the highest-grade results from the entire Fremont Property, including the Pine Tree-Josephine zone where our current NI 43-101 compliant mineral resource is hosted. It is increasingly becoming apparent that as we progress our drilling along Queen Specimen systematically from the southern end of the zone towards the centralized core of the zone, the mineralization is getting more intense. We are treating these high-grade results as a new discovery since the mineralization is hosted in a unit on the hanging wall side of the Shear Zone that has not been systematically drilled previously, and is traditionally not associated with significant mineralization. This further supports our vision that at the completion of our current drill campaign we will be able to add significantly to our resource base, and further demonstrate the continuity of near-surface mineralization along the entire four kilometres strike of the Shear Zone on the Fremont Property. It also signals that there is significant “blue sky” potential at Fremont that we will be eagerly exploring.” | |
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