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Be the first with the news that moves the market- Contact Gold (C) has added a second rig to an ongoing drill program at its Green Springs gold property in White Pine County, Nevada, USA
- One reverse circulation drill rig is currently operational at the past-producing Charlie pit, with another core rig now operating at the Echo Zone
- The company is hoping to extend previous drilling work to deeper depths, accessing the Pilot Shale target beneath known gold mineralisation
- Additional claims have also been added to the northern boundary of the project to cover possible extensions of the Tango target
- Contact Gold (C) is currently down 2.7 per cent to C$0.18 per share
Contact Gold (C) has added a second rig to an ongoing drill program at its Green Springs gold property in White Pine County, Nevada, USA.
Located near the southern end of the prolific Cortez Trend and adjacent to Fiore Gold’s Pan Mine and Gold Rock Project, the property covers 18.5 square kilometres of land and includes three shallow past-producing open pits, along with several targets that have not yet been exploited.
One reverse circulation drill rig has already been working at the historic Charlie pit, with a core drill rig now operating at the Echo Zone.
As the first ever core drilling program to be undertaken at the Green Springs property, core holes will seek to extend previous drilling to greater depths in an effort to reach the Pilot Shale target, which is thought to exist beneath known gold mineralisation hosted in the Chairman Shale target.
Three holes have already been completed at the Echo Zone, while another three have been completed at the Zulu target with assays to come.
Matt Lennox-King, CEO of Contact Gold, noted that more than 600 drill holes have been completed at the Green Springs property to date, none of which included core drilling work.
“Drilling core holes and increasing drill production with two rigs working on site will add a lot of geological value and will enable us to test the next prospective host unit down, the Pilot Shale, beneath the past producing pits and the Echo Zone.
“As the drill program intensifies, we look forward to our first results from Echo and Zulu and exploring our newly staked claims north of Tango,” he added.
The company recently undertook a claim staking program to cover the potential extensions of the Tango target, which lies to the north of the Green Springs property.
Contact Gold (C) is currently down 2.7 per cent and is trading at C$0.18 per share at 1:18pm EDT.
