- Contact Gold Corp. (C) has announced results from two drill holes completed at the Green Springs Project
- The recently completed holes at the X-Ray Zone have intersected average gold grades
- The X-Ray target is near the surface and remains wide open for expansion
- Contact Gold planned for a second phase of drilling after all results are received and integrated into the drill plan
- Contact Gold Corp. (C) is unchanged trading at $0.04 per share as of 2:37 p.m. ET
Contact Gold Corp. (C) has announced results from two drill holes completed in the 2022 step-out drill program at the Green Springs Project.
Results for the remaining 16 holes drilled from the Tango Zone are pending, but the recently completed holes at the X-Ray Zone intersected average gold grades.
“The grades, thicknesses and oxidation at X-Ray are exceptional and compare favourably across the state… There are multiple targets of interest, and discoveries to follow-up on at Green Springs,” said Vance Spalding, Vice President of Exploration at Contact Gold. “
According to the company, the X-Ray target is near the surface and remains wide open for expansion. The new results further extend mineralization to the west and southwest from the 2021 discovery holes at X-Ray and build on previously released high-quality results from the current program.
Gold mineralization at the X-Ray Zone is allegedly characterized by strong grades, oxidation, and continuity. The mineralization is hosted at the lower Pilot Shale contact with the underlying Guilmette limestone.
Contact Gold shared it is also planning for a second phase of drilling after all results from the first phase are received and integrated into the drill plan. The phase will include follow-up drilling at Tango, X-Ray, and the B-C Gap zones. It is also expanding an existing permit to test high conviction targets south of the Echo Zone, the Whiskey, and Foxtrot targets.
Contact Gold Corp. (C) is unchanged trading at $0.04 per share as of 2:37 p.m. ET.