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Treasury Metals (TSX:TML) has announced additional results from its drilling program at its 100 percent owned Goliath Gold Project in Ontario. As quoted in the press release: Treasury’s current drilling program is primarily focused on the conversion and expansion of underground “Inferred” Mineral Resources to the “Indicated” category that reside in and adjacent to the …
Treasury Metals (TSX:TML) has announced additional results from its drilling program at its 100 percent owned Goliath Gold Project in Ontario.
As quoted in the press release:
Treasury’s current drilling program is primarily focused on the conversion and expansion of underground “Inferred” Mineral Resources to the “Indicated” category that reside in and adjacent to the known Main Zone and C Zone gold-bearing shoots.
Highlights from the program include:
- Hole TL16413 that intersected 6.54 g/t Au and 7.04 g/t Ag over an intersection length of 11.5 m as tabulated below in a section of the Main Zone containing visible gold confirming the presence of high grade mineralization in this area of the eastern shoot.
- Drilling has also intersected some significantly high silver values in association with the gold mineralization.
- Hole TL16410 returned 10.95 g/t Au and 12.44 g/t Ag over a longer intersection length of 7.0 m. This hole tested a sparsely drilled section of the central shoot area.
- The Company has also commenced a 5,000 m condemnation drilling program covering the proposed placement sites for both mill and mine infrastructure and the tailings storage facility.
Chris Stewart, President and Chief Executive Officer, commented: “Our infill diamond drilling program continues to deliver results for us in the underground including both attractive grades and widths. Over the last two months, we have been working diligently to assess and determine our best path forward towards gold production at the Goliath Gold Project. We will be in a position during February to provide the market with a detailed project update and development timeline putting us in a strong position to make a production decision during this phase and ultimately move into construction of the Goliath Gold Project.”
The high grade silver intersections include hole TL16417 that assayed the highest silver content of the current program returning 2.26 g/t Au and 104.03 g/t Ag over 3.0 m. TL16406 returned 5.50 g/t Au and 78.97 g/t Ag over a sample length of 4.9 m. This latter hole intersected significant gold and silver mineralization in an area where Mineral Resources were not previously defined.
