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UrbanGold Minerals Inc.
Summary
| Project: | Troilus | |
|---|---|---|
| Deposit: | Troilus | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Copper-Zinc | |
| Date: | 12/23/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-12-2019: UrbanGold Minerals Inc. announces an Exploration/Drilling Update report for its Troilus deposit at the Troilus project. Drilling results incl. 1.8m @ 10.14g/t Au, 3.77g/t Ag from 83m. Ottawa, Ontario--(Newsfile Corp. - December 23, 2019) - Urb | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Mathieu Stephens (Internal) | |
| ABSTRACT: | Ottawa, Ontario--(Newsfile Corp. - December 23, 2019) - UrbanGold Minerals Inc. (TSXV: UGM) ("UrbanGold" or the "Company") is pleased to report partial results from its fall drill program on the Troilus Property, located near Chibougamau, Quebec. Several areas were targeted during the initial program which included the Larabel block to the north, the central Bullseye block and the Argonaut claims which are under earn-in agreement with Argonaut Gold ("Argonaut") (September 13th, 2019 news release). On the Argonaut claims, a total of fourteen (14) holes were drilled on targets that had not seen any work for over 30 years. Nine (9) holes targeted the historic FreeGold zone and its potential extensions along strike (September 13th, 2019 news release). Additional core assay analysis and testing is currently underway on the portion of the drill core that is presumed to intersect the FreeGold zone. Hole FRG-19-04, which extended deeper than most other holes at FreeGold intersected new mineralization below the historical FreeGold system at a vertical depth of approximately 83 metres with 10.14 g/t Au and 3.77 g/t Ag over 1.8 metres (including: 30.3 g/t Au, 10.3 g/t Ag over 0.6 metres). It is to be noted that true width cannot be determined at this time. Anomalous amounts of copper and zinc are also reported within the same intersection. It was observed that gold mineralization is associated with small amounts of sulphides forming stringers in contact with a porphyritic dyke. UrbanGold geologists are currently re-evaluating the geological model for the area to determine if porphyritic dykes may be associated with gold mineralization elsewhere within the FreeGold system. | |
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