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Contact Gold Reports Excellent Drill Results in First Three Holes

Contact Gold (C.V) completed a 2,123 meter, 23 hole drill program at the Green Springs project in Nevada, and the assay results for the first three holes…

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This article was originally published by Caesars Report

Contact #gold $C.V completed a 2,123m, 23 hole #drill program at the Green Springs project in Nevada, and the assay results for the first three holes (drilled on the X-Ray Zone) have now been received from the lab. And the assay results didn’t disappoint with very good grades over excellent widths in the first two holes with hole three slightly disappointing with just 3.05 meters containing 0.14 g/t gold.

Needless to say most of the attention should go towards hole 1 and 2 with a thick interval of 28.95 meters containing 1.66 g/t gold and 35.05 meters containing 0.82 g/t gold respectively. Both intervals started at exactly the same downhole depth at 9.14 meters.

Regarding hole 1, even if you isolate the 15.24 meters containing 2.66 g/t gold, the remaining 13.72 meters still contains approximately 0.55 g/t gold. We have the same comment for hole 2: yes, the 16.76 meters of 1.32 g/t gold is responsible for the majority of the gold in the wider 35.05 meter interval grading 0.82% but even if you would take the 16.76 meter interval away, the remaining 18.29 meters would still contain an average grade of 0.36 g/t. A lower residual value than in hole 1, but a 0.36 g/t  gold grade would still for sure make the leach pads in Nevada.

These are just the first three holes of five holes drilled in the outcropping X-Ray Zone. All holes were relatively shallow with an average depth of less than 90 meters and it looks like the target area remains open in three directions and the southwest appears to be the most intriguing direction as the overlying Joanna limestone is preventing soil and rock geochemistry to be useful tools to be deployed in that area.

The assay results from two more holes at X-Ray are still outstanding, Contact Gold also drilled sixteen holes at Tango and two holes were drilled at the B-C gap to follow up on last year’s discovery hole which contained 16.76 meters of 0.70 g/t gold.

Disclosure: The author has a long position in Contact Gold. Contact is a sponsor of the website. Please read our disclaimer.

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