Connect with us

Precious Metals

79North grab samples up to 15.51 g/t gold at Nassau, Suriname

79North Inc. [JQ-CSE; SVNTF-OTCQB; 6120-FSE] has discovered a new gold occurrence, with surface samples containing…

Published

on

This article was originally published by Resource World

79North Inc. [JQ-CSE; SVNTF-OTCQB; 6120-FSE] has discovered a new gold occurrence, with surface samples containing up to 15.51 g/t gold in a structural corridor that has a strike length of at least 600 metres. The new gold occurrence will be tested with approximately four drill holes as part of the ongoing Phase 2 drilling at the 70%-owned Nassau gold project in Suriname, South America. 79North can earn up to an 80% interest.

Jon North, president and CSE, commented: “While our geological team was waiting for the drill to arrive from Guyana, they spent a fruitful month prospecting and sampling at the Nassau concession. The results reported here include the discovery of a new high-grade gold occurrence at least 600 metres long and the northwest extension of the high grade Witlage gold zone, which create two new drilling opportunities and indicate to us that the gold-bearing system at Nassau is very extensive and fertile.”

Gold is concentrated near a north-trending contact between quartzite and argillite that was traced for 600 metres in three outcrops. The north end of the Ziti structure is intersected by the northwest-trending Witlage deformation zone and this intersection is also an area where intensive artisanal mining has created an obvious colour anomaly of bright white quartz tailings.

Adjacent to, and within the contact, gold is concentrated in quartz-pyrite vein stockworks and silicified zones in quartzite. At the north end of the structure, rock samples contain up to 5.7 grams gold per tonne from rock chip samples of quartz veins and silicified quartzite with disseminated pyrite. At the south end of the structure, a large pit approximately 40 metres wide and 15 metres high was recently excavated into a hillside by local miners who were evidently mining material with an excavator and hand cobbing the ore to feed two crusher-sluice box streams. At that location, the quartzite has stockworks of quartz vein steeps and flats and the adjacent argillite also has secondary quartz-pyrite replacement bodies. Four drill holes (approximately 400 metres) of drilling are planned to test the Ziti gold occurrence. It is anticipated that the drilling will be completed in June as part of the current Phase 2 drilling of the high grade Witlage Target.

Results of sampling of the newly-discovered Ziti gold occurrence included 15.51 g/t gold, 1.58, 2.29, 2.99, 1.86, 2.31, 2.70, 5.70 and 2.12 g/t.

In addition to the newly discovered Ziti gold occurrence, additional rock chip sampling was completed along the Witlage shear zone corridor where local miners have made new exposures of the northwest extension of the shear zone. High grade quartz veins and stockworks were sampled and individual samples contained 14.12, 5.92, and 2.72 g/t gold. The shear zone in this exposure contains numerous quartz shear veins ranging in width from millimetres to approximately 10 cmand is, in general, more silicified than the Witlage Shear Zone farther to the southeast. Fifty metres northwest of the new samples reported herein, a large area of quartz stockwork at least 10 metres wide is partially exposed by new artisanal mining and has been sampled, however the results are pending. It is anticipated that at least two holes will be drilled in this area.

Phase 2 drilling at the Nassau project commenced May 9th, 2022, and to date approximately 300 metres of drilling in 3 holes have been completed. It is anticipated that the results of the first four drill holes will be reported in the next few weeks.

cse
otcqb

cse-jq
79north-inc
79north inc

Economics

Bonds, Bullion, & Black Gold Drop, Dollar Pops As Fed Confirms Hawkish Stance

Bonds, Bullion, & Black Gold Drop, Dollar Pops As Fed Confirms Hawkish Stance

ISM data confirming a contraction in employment across Manufacturing…

Continue Reading
Precious Metals

Recession Is Priced In; Stagflation Is Not

Recession Is Priced In; Stagflation Is Not

 Submitted by the Space Worm Substack

The Eurodollar futures market is predicting a Fed rate…

Continue Reading
Economics

FOMC Minutes Show “More Restrictive” Fed Worried About ‘Entrenched’ Inflation

FOMC Minutes Show "More Restrictive" Fed Worried About ‘Entrenched’ Inflation

Since the last FOMC statement and press conference on June 15th…

Continue Reading

Trending