Calico Resources Corp. (TSXV:CKB,OTCQX:CVXHF) announced the final results from the first two core holes of the recently completed 12 hole drilling campaign at Grassy Mountain.
As quoted in the press release:
The drill program targeting the higher grade portion of the resource consisted of three (3) core holes and nine (9) reverse circulation rotary (RC) holes totaling 10,216 feet was completed October 30, 2011.
- Drill hole CAL-001, a -70 degree angle hole extended gold mineralization 100 feet south of historic RC holes TSO-2 and 26-043 along Section 2950NW, intersected 213.7 feet (65.14 m) of high-grade material averaging 0.146 opt Au (4.98 g/t) using a 50 g/t cap on Au sample results.
- Drill hole CAL-002, a vertical hole designed to fill in a 200 foot gap between historic RC holes 26-037 and 26-056 on Section 2900NW, intersected 153.3 feet (46.73 m) of high-grade material averaging 0.255 opt Au (8.75 g/t) using a 50 g/t cap on Au sample results.
- Table 1 below presents, weight averaged intercepts, both uncapped and “top-capped” at 50 g/t. Intercepts include internal waste (waste is defined as maximum consecutive down hole assay length containing less than 2g/t) and are 40 feet in CAL-001 and 20 feet in CAL-002 (note this statement is not meant to imply economics). The intercepts are “bottom capped” at >2 g/t above and below the intercept. Table 2 presents comparative results of the above mentioned historic RC holes.