Gold Basin Resources Corp.Â [GXX-CSE; GXXFF-OTCQB] provided an update on the continuing drill program at the Cyclopic deposit and the maiden drill program on its 100%-owned Stealth deposit on the Gold Basin oxide gold project in Mohave County, northwestern Arizona.
Stealth drilling continues to intersect thick gold intersections, with grades exceeding one g/t gold. Latest results include 80.6 metres (true width) at 1.0 g/t gold from 22.9 metres in hole ST22-009. Hole ST22-013 returned 70.1 metres at 1.0 g/t gold from 13.7 metres. Hole ST22-017 returned 32 metres at 1.3 g/t gold from 42.7 metres. Hole ST22-021 returned 47.2 metres at 1.0 g/t gold from surface. Hole ST22-023 returned 29 metres (true width) at 1.4 g/t gold from 45.7 metres.
Drilling intersections show a consistent broad zone of higher-grade (one g/t) gold mineralization along the 350 metres of strike length drilled to date. The deposit remains open in all directions. The mineralized trend along the major Stealth fault clearly indicates the potential to extend and join to the Red Cloud deposit, located to the south of Stealth.
Gold mineralization has similar subhorizontal geometry to the Cyclopic deposit, with high-grade, subvertical, crosscutting, gold-bearing structures also being evident. Drilling at Gold Basin during the 2022 campaign totals 11,799 m in 109 holes, with 3,714 m drilled at Stealth. The company owns both the surface and mineral rights of the Stealth deposit. Greater than 3,000 assays at the ALS laboratory are still outstanding.
Michael Povey, CEO, commented: “The drilling results from our Stealth program continue to provide broad gold intersections, most of which are much greater than 20 metres thick and exceed one g/t gold. The new ‘hits’ of 80 metres and 70 metres from almost surface are outstanding, not to mention the other significant intersections of even higher-grade mineralization. The pleasing factor is the overall consistency of gold mineralization in almost all the drill holes. Given that the Stealth fault is a major structure running roughly northwest-southeast for at least eight kilometres on the company’s property and is clearly mineralized to a far-greater degree than was previously thought, the scale of the potential along strike as well as depth presents the company with even more exciting exploration opportunities.”
The drilling completed at the Stealth oxide gold deposit focused on confirming historical drilling intercepts and testing both lateral and depth extensions of the known gold mineralization. Results have exceeded all expectations, with multiple broad intersections of gold mineralization in 23 of the 25 holes drilled. These include 17 intersections with a grade of over one g/t gold and an average thickness of 38 metres; in addition to these, multiple significant intersections of greater than 0.5 g/t gold also contributed to delineating a deep mineralized zone that extends almost from surface along the 350 m strike length drilled.
The 2022 drill program at Stealth has tested a relatively small area (350 m by 150 m) of the mapped Stealth fault, which is over eight kilometres in strike length and remains largely undrilled for most of this extent.
A total of 74 new unpatented claims and an option to acquire additional claims have expanded the total land footprint to 40 km2.