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Contact Gold Corp.
Summary
| Project: | Pony Creek | |
|---|---|---|
| Deposit: | West Target | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 8/14/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-8-2018: Contact Gold Corp. announces an Exploration/Drilling Update report for its West Target deposit at the Pony Creek project. Drilling results incl. 33.53m @ 0.42g/t Au from 4.57m. Vancouver, British Columbia--(Newsfile Corp. - August 14, 2018) - C | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Vance Spalding (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - August 14, 2018) - Contact Gold Corp. (TSXV: C) (the "Company" or "Contact Gold") is pleased to announce drill results from an additional 12 holes, totaling 2,500 metres from its 2018 drill program at the Pony Creek gold property ("Pony Creek"), located in Elko County, Nevada, adjacent to Gold Standard Ventures' Railroad-Pinion Project. These drill holes were designed to begin testing the 2 km long gold-in-soil and CSAMT anomalies ("West Target"), which were generated through the 2017 exploration program and to build upon areas of open gold mineralization at the Bowl Zone. Drilling by previous operators in the area of the West Target failed to reach the structural control for gold mineralization identified by Contact Gold. The West Target is 1 kilometre north of the property's Bowl Zone and is interpreted to be located along the same major north-south structure associated with oxide gold mineralization at the Bowl Zone, and potentially Gold Standard Ventures' Jasperoid Wash zone. "The team is very excited with this genuine new discovery of gold at Pony Creek. The West Target was generated through first-principles exploration methods, including geology, geochemistry and geophysics completed in 2017. Intersecting oxidized, near surface gold mineralization in the first hole into a fresh target is what every exploration geologist dreams of and it happens very rarely in a mature area like the Carlin trend. The West Target is over 2 km long and we intend to aggressively drill test both the west and east flanks of it in the coming months," stated Vance Spalding, VP Exploration of Contact Gold. Drilling through 2018 is designed to expand mineralization at the Bowl Zone, and to test new large-scale targets, including the North Zone and the West, Moleen, and Elliot Dome targets, generated by Contact Gold since acquiring the property one year ago. The Company has completed 29 holes in 2018, totaling over 6,000m of 16,000 planned metres of drilling. The drill program forms part of a comprehensive property wide exploration program comprising over 4,000 soil samples and geological mapping to support additional drill target generation. Assays are pending for 12 holes, with drilling scheduled to run through November 2018. | |
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