The Company has completed 13 holes totalling 7,242 metres and is scheduled to start the Phase 2 Drilling Program in July.
The continuity of mineralization, low-grade and high-grade, is identified by several gold-bearing zones that require follow-up drilling as they have the same signature as gold-bearing zones in the Con Mine.
The mineralization in holes GTCM21-012 and GTCM21-013 consists of zones with smoky quartz veinlets rich in arsenopyrite needles and stringers within a strongly sericitized alteration envelop.
Gold assays of >3 g/t are re-assayed on a 30 g split by fire assay with gravimetric finish.
Being within 10 kilometres of the City of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power, and skilled tradespeople.
The YCG lies on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that host the former-producing high-grade Con and Giant gold mines.
Certain statements made and information contained in this news release constitute “forward-looking information” within the meaning of applicable securities legislation .
In particular, this news release contains forward-looking information regarding the current drilling on the Campbell Shear on the Newmont Option potentially adding high grade ounces to the Company’s current YCG mineral resource, future planned drilling on the Newmont Option area and the Company’s objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.
Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.