- Contact Gold (C) announced the company has located an additional gold discovery at its the X-Ray Target at its Springs Gold Project
- This is the second gold discovery of 2021 made at the X-Ray Target in the northern portion of Green Springs
- The project is located in White Pine County, Nevada, near the southern end of the Cortez Trend of Carlin-type gold deposits
- The property covers 19.86 square kilometres encompassing three shallow past producing open pits and numerous targets that were not mined
- Contact Gold is up 11.11 per cent, trading at $0.10 at 1:33 pm ET
Contact Gold (C) announced the company has located an additional gold discovery at its the X-Ray Target at its Springs Gold Project.
This is the second gold discovery of 2021 made at the X-Ray Target in the northern portion of Green Springs.
This new discovery at the X-Ray Target comes on the heels of the Vancouver company’s Tango discover earlier this month, and contains even better oxide gold intercepts.
The project is located in White Pine County, Nevada, near the southern end of the Cortez Trend of Carlin-type gold deposits.
The Green Springs property is comprised of 257 lode mining claims covering 19.86 square kilometres of U.S. Federal lands, encompassing three shallow past producing open pits and numerous targets that were not mined.
“The discovery of another brand-new zone of oxidized gold mineralization in the Pilot Shale at Green Springs is a great accomplishment for our team. This discovery provides further validity to our exploration model targeting the underexplored Pilot Shale, which was the primary factor in deciding to acquire the project. As we continue to employ this model we are achieving excellent first pass hit rates at new, previously undrilled targets, providing us confidence to aggressively continue to test similar new areas and targets elsewhere on the project. The discovery of broad intervals of well-oxidized mineralization at X-Ray opens up the potential to put together a significant zone of gold in the previously undrilled gap between Alpha and the Mine Trend,” said Contact Gold Vice President of Exploration Vance Spalding.
The company began the 2021 Green Springs drill program in late February and completed 58 drill holes totalling 7,511 meters. Assays are pending for 32 drill holes, including from the Mine Trend, Alpha Zone and the Golf Target.
Contact Gold is an exploration company focused on making district scale gold discoveries in Nevada.
Contact Gold is up 11.11 per cent, trading at $0.10 at 1:33 pm ET.
