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Be the first with the news that moves the market- TriStar Gold Inc (TSXV:TSG) has completed its pre-feasibility infill drill program at the Castelo de Sonhos gold project, in Brazil
- The program concluded on April 18th with the company drilling almost 19,000 metres across 183 holes, while anticipating a further 2,000 metres will need to be drilled to finalise the study
- The exploration work outlined a number of near-surface targets, which are now being evaluated
- With the near-surface work complete, the company is focusing on delineating deeper targets at the site
- TriStar Gold (TSG) is up 4.92 per cent, with shares trading for C$0.32 and a market cap of $60.86 million
TriStar Gold Inc (TSXV:TSG) has completed its pre-feasibility infill drill program at the Castelo de Sonhos gold project, in Brazil.
The program concluded on April 18th and the company drilled almost 19,000 metres across 183 holes.
Despite completing the planned program, TriStar estimates another 2,000 metres of drilling will need to be completed to finalise the study. No assays have yet been returned but the company expects early results to arrive before the end of May.
Once the study is complete, the results will be combined with the site’s Preliminary Economic Assessment, which was completed in 2018.
Along with the new data, TriStar will also include the recent changes to the Brazilian real exchange rate and the newly improved price of gold into the study’s calculations.
Alongside this news, the company announced it has outlined new potential drill targets, outside the current known resource at the site.
With a number of targets isolated, the company will be able to incorporate them into a larger picture of the site’s known resource.
After outlining these near-surface targets, the company is now shifting focus at the site and will target deeper deposits. A selection process for the new exploration effort is expected to finalise around the middle of the year.
Nick Appleyard, President and CEO of Tristar, is excited about the project’s new targets, which were found with the help of GoldSpot Discoveries.
“Our geologists are currently evaluating the first round of these shallow open-pit targets in preparation for initial drill testing as soon as possible.
“Work on CDS deeper targets is ongoing and we anticipate it similarly generating multiple targets by the time work is completed in June,” he said.
TriStar Gold (TSG) is up 4.92 per cent, with shares trading for $0.32 at 2:58am EDT.
