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Osprey Gold Development Ltd.
Summary
| Project: | Goldenville | |
|---|---|---|
| Deposit: | Goldenville | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 6/22/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-6-2017: Osprey Gold Development Ltd. announces an Exploration/Drilling Update report for its Goldenville deposit at the Goldenville project. Drilling results incl. 7.05 m @ 3.89g/t Au from 20.2m. Vancouver, British Columbia--(Newsfile Corp. - June 22, | |
| Resources: | (Resource, Inf.): 2.8Mt @ 3.20g/t Au for 288Koz Au contained at project | |
| CP/QP: | [Overall Report]: Perry MacKinnon (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - June 22, 2017) - OSPREYGOLD DEVELOPMENT LTD. (TSXV: OS) (the "Company" or "Osprey") is pleased to announce assays from the first 6 holes of 24 previously unassayed holes drilled in 2014. These holes were from an exploration program conducted in 2014 byGoldworx, a former operator of the Company's Goldenville Property ("Goldenville"), located inGuysborough County, Nova Scotia. Notable initial assay results include Hole P4-14-04 which returned multiple elevated intervals with elevated gold values, including 3.89 g/t gold over 7.05 metres, which included a higher grade intercept of 26.20 g/t gold over 0.80 metres and 5.71 g/t gold over 1.00 metre. The 24 holes for 751 m were drilled on a 25 by 25 metre grid on the northern limb of the Goldenville-Gold Lake Anticline which dips moderately between 45 and 60 degrees. Mineralization occurs within bedding parallel quartz veins and within the argillite and greywacke host rocks. The 24 holes were drilled to delineate near-surface mineralization for a planned open pit bulk sample, and average approximately 30 metres in length. The prior operator was unable to finish the planned drill program, completing 24 of a planned 30 holes, and the core from the completed holes was never cut, logged, or assayed. Osprey acquired the well-preserved core and submitted halved core for laboratory analysis. | |
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