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Spanish Mountain Gold Ltd.
Summary
| Project: | Spanish Mountain | |
|---|---|---|
| Deposit: | Phoenix Zone | |
| Location: | Canada | |
| Commodities: | Gold-Silver | |
| Date: | 2/27/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-2-2019: Spanish Mountain Gold Ltd. announces an Exploration/Drilling Update report for its Phoenix Zone deposit at the Spanish Mountain project. Drilling results incl. 28.35m @ 0.25g/t Au from 119.15m. Vancouver, BC ‐ Spanish Mountain Gold Ltd. (the | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Judy Stoeterau (Internal) | |
| ABSTRACT: | Vancouver, BC ‐ Spanish Mountain Gold Ltd. (the “Company”) (TSX‐V: SPA) is pleased to announce the assay results from additional exploration drilling completed during 2018 at the Phoenix Zone, which is located less than two kilometres from the proposed open pit delineated within the Main Zone of the Spanish Mountain gold project (the “Project”) located in British Columbia, Canada. The Phoenix Zone was discovered in 2011 by the Company. Preliminary metallurgical test work has shown that core samples from this area are amenable to the same gold recovery process as has been developed for the Main Zone. The potential viability of the Main Zone has been demonstrated in a 2017 Preliminary Economic Assessment. For the reconnaissance program conducted during 2018, the objective was to test the potential continuity and extent of the mineralization trend between the Phoenix Zone and the additional gold‐bearing area to the north acquired by the Company in 2012. Three shallow (less than 160m from surface) holes with wide spacing (up to 800m) were drilled along a 500m wide corridor. Results All three drill holes encountered mineralization above the cut‐off grade established under the Project’s 2017 PEA indicating a northwest trend to the mineralization along a 3,500m long corridor, more than three times the strike length of the Main Zone. This broad trend of gold mineralization is not primarily associated with argillite as at the Main Zone. The trend remains open and untested to the northwest and southeast. | |
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