- Elevation Gold Mining Corp. (ELVT) has begun exploration drilling on the Florence Hill target located on the Moss Mine Property in Arizona
- Over two million ounces of gold have been produced in the surrounding Oatman district
- The company has identified comparable Oatman structures at Florence Hill
- 3,800 metres of core drilling will be done and roads and drill pads have been put in to test adjacent fault-hosted targets
- Elevation Gold Mining Corp. (ELVT) is unchanged trading at $0.15 per share as of 3:59 p.m. ET
Elevation Gold Mining (ELVT) has begun exploration drilling on the Florence Hill target located on the Moss Mine Property in Arizona.
According to the company, over two million ounces of gold have been produced from underground mining in the surrounding Oatman district.
“Recent geophysical work by the company has identified key structures from the historic Oatman district that continue to Florence Hill… It is unusual to find an undrilled target with these features in the lower 48, and the company is excited about the potential for making a new discovery,” Michael G. Allen, President of Elevation Gold, said.
Average head grades were reported to have ranged between approximately 10 to 33 grams of gold per tonne.
Elevation Gold stated it has planned a program of approximately 3,800 metres of core drilling and has built roads and drill pads to test adjacent fault-hosted targets, including the Silver Creek Springs, eastern West Oatman, and possibly the Hardy Vein exploration targets.
“The proximity of significant historic producers in the Oatman district and their location on structures that intersect the Silver Creek Caldera margin in the Florence Hill area, highlights the potential of the Florence Hill exploration target,” Dr. Warwick S. Board, Vice President of Exploration for Elevation Gold, said.
The company’s ongoing work continues to add further details to the multiple features that are coincident in the Florence Hill exploration area.
Elevation Gold Mining Corp. (ELVT) is unchanged trading at $0.15 per share as of 3:59 p.m. ET.
