The Conversation (0)
Threegold Resources (TSXV:THG) has acquired significant and historical data on the Standard Gold property: 11,854 meters of diamond drilling hole core that was drilled on the in the early 1980’s and detailed logs of unfiled cores totalling 2,137 meters. The unfiled cores, together with historical assay logs and a strong data base of information, have been safely stored in core shacks and is in good shape since it was drilled in the 1980’s. Upon the acquisition, Threegold matched the core holes with the drill collars and geo-referenced them.
As quoted in the press release:
Several things stand out in this such as the fact that achieving almost 12,000 meters of drilling is time consuming and costly for an exploration company and to acquire this core and data for a nominal cost is of huge benefit to Bowmore and Threegold’s shareholders. Secondly, this drill core will allow the Company to better understand the highly prospective geological context of the area. Thirdly, with re-analysis of the full mineralized sections, this data would be conclusive for a future NI43-101 technical report. Fourth, previous work done by Bowmore Exploration, the Company’s option partner, have already demonstrated the strong potential of the area by defining extension of the historical gold mineralized corridor (see press release March 29th 2012).
Threegold Resources President and CEO Victor Goncalves said:
We are pleased to have been fortunate enough to get our hands on well over one million dollars worth of drilling. The Company will commence the necessary work to maximize the data at hand.
Click here to read the Threegold Resources (TSXV:THG) press release
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