- MegumaGold Corp. (NSAU) has completed extensive soil geochemistry, till sampling, and prospecting program at the Murchyville South Project Area in Nova Scotia
- The program was designed to detect geochemical signatures of bedrock gold mineralization along the Moose River Trend in the area
- The company plans to carry out detailed mapping and prospecting programs during the second quarter and geophysical surveys in the third quarter
- MegumaGold is a Canadian junior gold exploration company
- MegumaGold Corp. (NSAU) remains steady, trading at $0.06 per share
MegumaGold Corp. (NSAU) has completed extensive soil geochemistry, till sampling, and prospecting program at the Murchyville South Project Area.
The program was designed to detect geochemical signatures of bedrock gold mineralization along the Moose River Trend in the area. It was comprised of 670 soil samples and 44 till samples carried out on 200-metre spaced lines, with samples taken every 100 metres along each line.
2021 till samples were collected to evaluate anomalous gold results from historical till sampling on the property.
The samples were taken from the currently open, southwest strike extension of Touquoy West, where MegumaGold focused its previous fieldwork.
The company plans to carry out detailed mapping and prospecting programs during the second quarter in areas of anomalous soil geochemistry defined in the recent program.
Once mapping and prospecting have been conducted, MegumaGold will further investigate high-priority targets with IP geophysical surveys in the third quarter, followed by a drill program.
The Murchyville South project area is adjacent to the Touquoy Gold Mine, operated by St. Barabara Limited.
MegumaGold’s work at Murchyville is estimated to cost over $100,000, the minimum amount needed for an initial exploration program according to the company’s agreement with Genius Metals.
According to the agreement, MegumaGold now has the option to acquire a 49.9 per cent interest in the property from Genius Metals, which currently holds Murchyville.
MegumaGold is a Canadian junior gold exploration company engaged in the business of acquiring, exploring, and developing natural resource properties.
The company has centred its exploration focus on the Meguma Supergroup of Nova Scotia that hosts the producing Touquoy Gold Mine plus several other advanced-stage gold deposits.
MegumaGold Corp. (NSAU) remains steady, trading at $0.06 per share as of 10:32 am ET.
