Gold Basin Resources Corp. [TSXV-GXX; OTCQB-GXXFF] reported final results from the 2,224-metre, follow-up reverse circulation (RC) drill program at the 100%-owned Gold Basin oxide gold project in northwestern Arizona.
Highlights: Multiple broad gold zones intersected in the Gap zone up to 70 metres wide down hole, covering a strike length of approximately 250 metres.
Notable gold intersections from the final batch of seven drill holes include CM23-056 (angled hole) that returned 53.0 metres at 0.41 g/t gold from 94.5 metres, including 21.3 metres at 0.61 g/t gold from 97.5 metres.
CM23-053 (angled hole) returned 50.3 metres at 0.41 g/t gold from 27.4 metres, including 25.9 metres at 0.57 g/t gold from 50.3 metres. CM23-055 (angled hole) returned 15.2 metres at 0.55 g/t gold from 73.2 metres.
Mineralization remains open at depth, along strike, and in width on the Stealth-Red Cloud trend.
Colin Smith, CEO, commented: “Final results from drilling in the Gap zone between the Stealth and Red Cloud Deposits are highly encouraging, with the majority of holes intercepting broad intervals of near-surface oxide gold, providing further evidence of a contiguous 1.5-km-long oxide gold system throughout the Stealth-Red Cloud trend. We look forward to the next round of drilling to further delineate and expand the envelope of mineralization, which remains open in all directions.”
The 2023 phase 2 follow-up drill program primarily targeted the Gap zone between the Stealth and Red Cloud oxide gold deposits, which had been historically tested by a small number of widely spaced drill holes. Exploration holes drilled by Gold Basin in this program intersected near-surface gold in four of six holes drilled along the main Gap zone trend over a strike length of approximately 250 metres, demonstrating continuity of mineralization between the Red Cloud and Stealth deposits. Additional holes are under preparation in the Gap zone to determine deposit geometry.
Both down-dip holes at the Stealth Deposit reported herein (CM23-052 and CM23-053) returned oxide gold intercepts, demonstrating that the auriferous structure continues at depth. Most of the 1.5-km-long Stealth-Red Cloud trend remains open down dip and along strike, warranting additional drilling to extend the envelope of mineralization.
Gold Basin Resources is advancing the 42- km2 Gold Basin project, located in the Tier 1 mining jurisdiction of Mohave county, Arizona. The project hosts multiple at-surface oxide gold deposits which remain largely open for expansion, and district-scale exploration potential which has been vastly underexplored by modern technologies. Gold Basin is accessible year-round via a 1.5-hour drive on I93 Highway southwest of Las Vegas, and high-power electrical lines from the Hoover Dam crosscut the southern project area.