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Project: | Caribou | |
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Deposit: | Caribou | |
Location: | Canada | |
Commodities: | Gold | |
Date: | 11/20/2018 | |
Report Code: | NI43-101 | |
Report Type: | Exploration/Drilling Update | |
Project Stage: | Pursuing Resources Definition | |
Report details: | 20-11-2018: Osprey Gold Development Ltd. announces an Exploration/Drilling Update report for its Caribou deposit at the Caribou project. old drillholes, new assay results incl. 70.57m @ 1.58g/t Au from 79.10m. Vancouver, British Columbia--(Newsfile Corp. | |
Resources: | x | |
CP/QP: | [Overall Report]: Perry MacKinnon (Internal) | |
ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - November 20, 2018) - OSPREYGOLD DEVELOPMENT LTD. (TSXV: OS) (OTCQB: OSSPF) (the "Company" or "Osprey") is pleased to provide further results from its ongoing 2018 exploration program underway at the CaribouGold Project ("Caribou") located in Nova Scotia, Canada. Caribou is approximately 80 kilometers ("kms") northeast of the city of Halifax, Nova Scotia, and 8 kms north of Atlantic Gold's Moose River Consolidated mill site. These results provide continued evidence of lower grade disseminated mineralization within the host sediments, around the historically sampled high grade veins. The best reported intercept being hole CM87-23 reporting 70.57 metres ("m") of 1.58 grams per tonne gold ("g/t Au"), or 0.80 g/t Au if utilizing a 70 g/t Au grade cap. More complete results are available below in Table 1. Sampling this core is a cost-effective step to determining Caribou's potential to host significant zones of gold mineralization disseminated within the host sediments, between the historically mined high grade veins. These results are being used to refine drill plans on these broad mineralization targets within the host sediments "These results continue to support our thesis that there is significant disseminated mineralization at Caribou, in addition to the high grade stockwork systems, and veins," said Company President Cooper Quinn. "Due to the condition of the on-site stored core, Osprey personnel re-boxed and relogged historic holes before sampling intervals from them. Although not all historic core was recoverable, there was sufficient recovered core to verify intervals and to sample, and assay large zones of previously unsampled host rock. We're very pleased with these results. These longer intervals of disseminated mineralization, augmented by the historic higher grade intercepts, are similar in style to what Atlantic Gold is mining at the Touquoy open pit, and are one key type of mineralization we've been systematically exploring for at Caribou." | |
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