Contact Gold Hits High-Grade Oxide Gold at Green Springs
Vancouver, BC -- August 17, 2023 -- NewsGenie -- Contact Gold Corp. (TSXV:C) (OTC:CGOLF) has announced promising drill results from its 2023 exploration program at the Green Springs gold project in Nevada's Cortez Trend. The program, part of a US$10 million earn-in with Centerra Gold Inc. (TSX: CG; NYSE: CGAU), saw 4,028 meters of RC drilling across 29 holes.
Matthew Lennox-King, President & CEO of Contact Gold, highlighted the significance of the X-Ray drill holes, noting they extended gold mineralization to the northeast. He emphasized the well-oxidized nature, thickness, and high grades observed, expressing gratitude to Boart Longyear, Centerra Gold, and the Contact Gold team for a safe and successful program.
Key X-Ray Zone highlights:
- 1.90 g/t Au over 25.91 meters, from 89.92 meters in drill hole GS23-10, including 2.50 g/t Au over 18.29 meters.
- 1.41 g/t Au over 12.19 meters, from 85.34 meters in drill hole GS23-11, including 2.45 g/t Au over 4.57 meters.
- 1.67 g/t Au over 10.67 meters, from 85.34 meters in drill hole GS23-12, including 2.03 g/t Au over 7.62 meters.
These holes, drilled from new locations south and west of the X-Ray discovery zone, confirm and extend mineralization from the 2021 discovery holes. The X-Ray target remains open for expansion, especially to the east, south, and west, characterized by near-surface, well-oxidized gold with exceptional grades and thicknesses. Gold mineralization is hosted at the lower Pilot Shale contact with the Guilmette limestone, similar to the Pan Mine and Alligator Ridge.
Results are pending from six additional holes at X-Ray. The program also included step-out holes at the Tango Zone, discovered in 2021.
Map Showing Location of 2023 Green Springs Drill Holes
Vance Spalding, VP Exploration, Contact Gold, a qualified person under NI 43-101, has reviewed and approved the technical information. Green Springs is strategically located near Calibre Mining Corp.'s Gold Rock project and Pan Mine.
Contact Gold is focused on district-scale gold discoveries in Nevada, with extensive land holdings on the Carlin and Cortez trends.