The Company has now completed its winter Phase 1 drilling program of 13 holes totaling 7,242 metres, with assay results pending for the last 4 holes.
High-grade zones, similar to those mined at Con and those intersected in holes GTCM21-003 and 005 earlier in the Phase 1 drilling at 150-200m spacing, are part of the same system that needs to be drilled systematically with closer spacing.
President and CEO David Suda stated, “We are highly encouraged that results to date establishes continuity of the gold mineralization for over two kilometers and a strong correlation with historical assay results and historically, the same gold envelope part of the Con Mine.
High grade lodes have historically been located successfully in the Campbell Shear Structure and the limited drilling to date is considered highly encouraging.
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.