- Gold Springs Resource (TSX:GRC) has received assays from North Jumbo
- The results have confirmed the possibility for a southward extension of the North Jumbo Resource that borders Nevada and Utah
- The company also said the 2022 drill program is advancing as expected
- Shares of Gold Springs Resource Corp. are down 3.23 per cent to C$0.15 at 4 pm ET
Gold Springs Resource (TSX:GRC) announced on Monday (September 19) that it has received assays from the first 2022 drill holes at North Jumbo.
In a press release, the company said the results have confirmed the possibility of a southward extension of the North Jumbo resource in its Gold Springs project that borders Nevada and Utah.
Randall Moore, executive vice president of exploration at Gold Springs, said the results confirm the discovery of a new gold mineralization area that extends 200 meters south of its North Jumbo Resource in a new structural block that has never been drilled.
Other highlights include:
- The extension of the North Jumbo Resource in a parallel western mineral block (J-22-001, J-22-006, and J-22-007).
- The extension of gold mineralization in the southern portion of the North Jumbo Resource as our model predicted (Hole J-22-008).
“All these holes have thick sections of gold mineralization and higher-grade intervals than our existing resource,” Moore said. “The 2022 drill program is advancing as we hoped, and our resource models are being confirmed and refined by all these positive drill results.”
Gold Springs has now completed 56 drill holes as part of its 2022 drilling program, which totals 11,990 meters of its planned 21,000-meter program. So far, drilling has targeted the North and South Jumbo resources, the Charlie ROss target and the Snow target. While the Snow target saw its first-ever drilling, drilling will now move to the Red Light target as well as the Horsehoe Extension.
Gold Springs Resources is focused on the exploration and expansion of gold and silver resources at its Gold Springs project. The project sits in the prolific Great Basin.
Shares of Gold Springs Resource Corp. are down 3.23 per cent to C$0.15 at 4 pm ET.