The Conversation (0)
On Monday, the company reported the discovery of a new high-grade gold zone at its Sakami project. Intersections include up to 6.86 g/t gold over 9.6 meters, including 9.49 g/t gold over 6.5 meters, in hole PT-15-87.
Nevertheless, they were no doubt pleased to see it release further good news on Monday. Specifically, the company reported the discovery of a new high-grade gold zone with intersections of up to 6.86 g/t gold over 9.6 meters, including 9.49 g/t gold over 6.5 meters, in hole PT-15-87.
Further highlights include 1.41 g/t gold over 22.5 meters and 0.94 g/t gold over 13.75 meters in hole PT-15-86.
Those results not only confirm the potential for the discovery of enrichment zones within Zone 25, but also confirm the northwest extension of hole PT-14-79, which was drilled in 2014 and returned 6.93 g/t gold over 12 meters, including 11.35 g/t gold over 6 meters.
Canada Strategic’s CEO, Jean-Sebastien Lavallee, said in a press release, “[t]his high-grade gold discovery is very significant for future exploration at Sakami.” He also noted that it confirms the potential for high-grade mineralization.
The drill program those results come from finished up in March and consisted of seven holes for a total of 2,049 meters; it ultimately saw Zone 25 tested over a strike length of more than 250 meters and to a depth of over 500 meters along its plunge. To date, the company has received assay results from four holes from the program, with results from two holes being announced Monday.
The holes reported previously also returned wide gold-bearing intersections, including 1.29 g/t gold over 54.5 meters in hole PT-15-84; in turn, that includes 3.03 g/t gold over 6.5 meters and 2.5 g/t gold over 7.5 meters. For its part, hole PT-15-85 returned 1.47 g/t gold over 45.5 meters, including 3.84 g/t gold over 7.5 meters and 1.74 g/t gold over 11 meters.
Investors have reacted to Monday’s news positively, with the Canada Strategic’s share price rising 5.56 percent, to $0.095, by end of day Monday. The company’s share price has risen an impressive 90 percent year-to-date. Matamec Explorations (TSXV:MAT) is Canada Strategic’s partner on the project, and its share price was up 12.5 percent, at $0.045 by close of day Monday.
Securities Disclosure: I, Kristen Moran, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Canada Strategic Metals is a client of the Investing News Network. This article is not paid-for content.
Related reading:
Canada Strategic Building a Resource at La Loutre: CEO Jean-Sebastien Lavallee.