Decade shares jump 22% on Golden Triangle results.
Decade Resources Ltd. [DEC-TSXV] shares rallied sharply Tuesday after the company said three drill holes have intersected native gold on the Argo/LG zones at its Del Norte property located 34 kilometres east of Stewart, in British Columbia’s Golden Triangle region.
Drilling highlights include 10 metres of quartz and sulphide with fine visible gold in hole DDH-DN-21-15, and visible gold associated with sphalerite in DDH-DN-21-16.
“The company is extremely pleased with the successful program to date on the Del Norte project,” said Decade President Ed Kruchkowski. “The company is also excited by the continued presence of visible gold, silver minerals and strong base metal mineralization in the latest drill holes,” he said. “The drilling to date shows a great consistency along strike and to depth for the mineralization between various drill holes along the Argo/LG zone.”
Decade share rallied on the news, jumping 22% or $0.01 to $0.055 on volume of 568,910. The shares are currently trading in a 52-week range of 12 cents and $0.04.
The Argo/LG zone is one of four major mineralized trends identified to date. Any one of the identified zones has the size potential to host a mineral deposit, the company has said. The geology of the mineralized zone suggests deposition along a stratigraphic horizon similar to hosting the Eskay Creek deposit.
Drilling in 2021 indicates a strike length of at least 1,200 metres and a height of at least 200 metres for the zone tested this season. It remains open north, south and to depth.
The company said it will formalize 2022 field plans once all the assays have been received.
The Del Norte project was optioned from Teuton Resources Corp. [TUO-TSXV, TUC-Frankfurt] in January of 2020 with terms allowing the company to earn up to a 55% interest in the property by spending $4 million over a 5.0-year period. The company can earn an additional 20% interest by carrying the property to commercial production.
A portion of the drilling in 2020 was designed to test a number of targets generated by a comprehensive review of past work on the property and augmented by prospecting discoveries made early in the field season (such as Eagle’s News).
Highlights from drilling into the Argo zone include: 1049.64 g/t silver equivalent over 6.03 metres in drill hole DDH DN20-18, included within an interval grading 119.95 g/t Ag Eq over 58.37 metres, 2128.48 g/t Ag Eq over 2.46 metres in DDH DN20-20, included within an interval grading 221.03 g/t Ag Eq over 34.09. metres.