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California Gold Mining Inc.
Summary
| Project: | Fremont | |
|---|---|---|
| Deposit: | Queen Specimen | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 2/8/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-2-2018: California Gold Mining Inc. announces an Exploration/Drilling Update report for its Queen Specimen deposit at the Fremont project. Drilling results incl. 30.2m @ 1.21g/t Au from 68.0m. Toronto, Ontario – California Gold Mining Inc. (“California | |
| Resources: | (Resource): 515,000oz Au (Ind.) and 364,000oz 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 first set of assay results from the recently commenced resource drilling program at the Queen Specimen zone at its flagship Fremont Project (the “Project” or “Fremont”) in Mariposa County, California. Today’s results advance the Company’s main objective of generating a second mineral resource on the Property covering the newly identified Queen Specimen mineralized zone. This zone is located in the northwest 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. The Company’s current NI 43-101 open pit-constrained mineral resource of 515,000 ounces grading 1.71 g/t gold in the Indicated category, and an additional 364,000 ounces grading 1.44 g/t gold in the Inferred category, only encompasses the Pine Tree-Josephine zone within the Property. Vishal Gupta, California Gold’s President and CEO, said, “These results are exactly what we were hoping to see. We are extremely pleased with the substantial grades and sizeable widths intersected at the Queen Specimen zone that lies to the north of the Pine Tree-Josephine zone where the current NI 43-101 compliant mineral resource for Fremont is hosted. These latest results indicate the continuation of the near-surface gold mineralization along the strike of the Shear Zone and support our thesis that there is potential to significantly expand the current open pit-constrained mineral resource at Pine Tree-Josephine along strike at Queen Specimen. Having already demonstrated positive metallurgical results in 2014, California Gold aims to distinguish Fremont as one of the best emerging gold projects in North America by incrementally adding to its sizeable current mineral resource. In addition to the Pine Tree-Josephine and Queen Specimen deposits, the Fremont Project hosts numerous other very promising mineralized targets that will be the Company’s focus following the completion of the second mineral resource.” | |
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