- Gold79 (AUU) is releasing results of reprocessed geophysics its Jefferson Canyon Project
- The geophysics coincides well with both the results from historical drilling and the 2020 geochemical sampling program
- The company believes it supports the potential for Jefferson Canyon to become a significant deposit
- The company has applied for 15 drill sites with multiple holes from each site
- Gold79 is unchanged, trading at $0.07 at 9:57 am ET
Gold79 (AUU) is releasing results of reprocessed geophysics its Jefferson Canyon Project.
The geophysics coincides well with both the results from historical drilling and the 2020 geochemical sampling program.
The company believes it supports the potential for Jefferson Canyon to become a significant deposit.
The Jefferson Canyon Gold Project is located in Nevada.
“The work we have done over the last year at Jefferson Canyon continues to highlight the potential of this project. In particular, we have merged the very positive historical drill results with geochemical results and reprocessed geophysics. On the basis of this work, we have designed an initial drill program for Jefferson Canyon and submitted our application for drill permits,” said Gold79 President and CEO Derek Macpherson.
Following up on the 2020 soil sampling campaign and strong historical drilling results from the project, the company reprocessed the data from previously completed resistivity, magnetic and gravity geophysical surveys. The results of the reprocessed magnetic survey reveal a coincident magnetic low likely related to a mineralizing event.
On July 21, 2021, the company submitted an application for a Plan of Operations at its Jefferson Canyon Project. The application is for 15 drill sites with multiple holes from each site and the corresponding roads to service them.
It is anticipated that the project should be drill-ready in 2022.
“We are looking forward to the completion of the permitting process so that we can start our maiden drill program at Jefferson Canyon. The last drilling conducted by previous operators in the 1980’s encountered impressive gold and silver grades,” said Gold79 Chairman Gary Thompson.
Gold79 is unchanged, trading at $0.07 at 9:57 am ET.
