Source: Petrolympic Ltd.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Petrolympic Ltd. (PCQ) released assay results from seven holes on the southern block of its Belcourt Property in Abitibi, Quebec
  • The property is in a favourable geological context for gold and base-metal mineralization within felsic to intermediate volcanic rocks underlain by an important structural corridor and is surrounded by numerous precious and base metal deposits
  • A program that is being developed that will include a high definition heliborne magnetometric survey followed by biogeochemical, prospection, mapping, and sampling surveys on selected priority areas
  • Petrolympic Ltd. (PCQ) was up 36.36 per cent trading at C$0.075 per share as of 1pm ET

After drilling seven holes, Petrolympic (PCQ) released assay results from 1,092 metres on the southern block of its Belcourt property in Abitibi, Quebec.

The property is in a favourable geological context for gold and base-metal mineralization within felsic to intermediate volcanic rocks underlain by an important structural corridor and is surrounded by numerous precious and base metal deposits.

The most significant intersections were:

  • BE-22-01: 1.49g/t Au over 5.4 metres (including7.02 g/t Au over 0.9 of a metre)
  • BE-22-02: 0.71g/t Au over 3 metres (including1.43g/t Au over 1 metre)
  • BE-22-04: 2.2 g/t Au over 1.3 metre and 3.13g/t Au over 3 metres (including7.29g/t Au over 1 metre)
  • BE-22-05: 0.97g/t Au over 1 metre and 0.22g/t Au over 1 metre
  • BE-22-06:6.5 g/t Au over 0.5of a metre and 1.3 g/t Au over 2.5 metres in Zone 1 and 1.3  g/t Au over2.0 metres in Zone 2

The company added that these gold occurrences, the favourable geological context, and the mineralizations discovered in the vicinity all support further exploration efforts in the Belcourt property.

A program that is being developed that will include a high definition heliborne magnetometric survey followed by biogeochemical, prospection, mapping, and sampling surveys on selected priority areas.

Source: Petrolympic Ltd.

Diamond drilling will then test the most promising targets, the depth and lateral extension of the known mineralized auriferous zones, and significant geological, geophysical, and geochemical anomalies.

Petrolympic Ltd. is an exploration company engaged in the acquisition, exploration and development of gold, petroleum light crude oil, and natural gas properties.

Petrolympic Ltd. (PCQ) was up 36.36 per cent trading at C$0.075 per share as of 1pm ET.

More From The Market Herald
VR Resources - CEO, Dr. Michael Gunning.

" VR (TSXV:VRR) intersects more critical mineralization

VR Resources (VRR) has discovered another high-grade zone of critical metals mineralization at its Hecla-Kilmer Property in Ontario.

" U3O8 Corp. (TSX:UWE) appoints new board chairman and CEO

U3O8 Corp. (UWE) announced that Dr. Richard Spencer has transitioned from President and Chief Executive Officer to Chairman of the Board.

" Gratomic (TSXV:GRAT) unveils graphite deposit extension in Brazil

Gratomic (GRAT) has a trenching program underway on its Capim Gross Project in Brazil.
The Market Herald Video

" Tocvan Ventures (CSE:TOC) announces latest drill results from Pilar

Tocvan Ventures Corp. (TOC) has completed the latest stage of drilling at its Pilar Au-Ag Project in Sonora, Mexico.