- BULGOLD (TSXV:ZLTO) has begun exploration diamond drilling at the Lutila Gold Project in Slovakia
- The exploration license spans an area of 32.2 square kilometres and is prospective for quartz-adularia, low-sulfidation epithermal gold mineralization
- The company intends to drill two diamond drill holes to test the potential for mineralized quartz-adularia veins deposited within an upflow zone
- Shares of BULGOLD are up 37.50 per cent to C$0.11 as of 12:39 p.m. ET
BULGOLD (TSXV:ZLTO) has begun exploration diamond drilling at the Lutila Gold Project in Slovakia.
In a news release, the company stated the exploration license spans an area of 32.2 square kilometres and is prospective for quartz-adularia, low-sulfidation epithermal gold mineralization.
The company intends to drill two diamond drill holes to test the potential for mineralized quartz-adularia veins deposited within an upflow zone at depth and beneath the Certov vrch target area and the Rhyolite Ridge target area.
“We have started drilling on the Certov vrch target area where historic soil geochemistry has outlined a strong, broad and coincident arsenic and antimony anomaly,” Sean Hasson, CEO of BULGOLD, said in a statement. “We will be drilling to target gold mineralized quartz veins deposited within an upflow zone beneath the ridgeline, similar to those found five kilometres north at the historic Kremnica gold mine. We will be drilling what we believe to be the deepest hole ever designed within this target area.
The targeted upflow zone is interpreted to be the southern, down-faulted extension of the 6-km-long Kremnica low-sulfidation vein system immediately north of the project area. Both drill holes will be completed to a minimum 600 metre hole depth and results will be released on a completed hole basis after receipt of assay results.
With headquarters out of Toronto, BULGOLD is a gold exploration company focused on the exploration and development of mineral exploration projects in Central and Eastern Europe.
Shares of BULGOLD (TSXV:ZLTO) are up 37.50 per cent to C$0.11 as of 12:39 pm ET.
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