The company reported that its initial hole in the Phase 2 drill program, Hole 2022-AID-001, intercepted 14.55 metres averaging 2.44 g/t) gold, including 0.85 metres at 9.60 g/t gold and 1.1 metres at 9.14 g/t gold from 142.25 metres depth.
Hole 2022-AID-001 intercepted mineralization approximately 50 metres down dip from PAU-21-003 drilled in 2021. The company is awaiting further drill results and expects them later this year, and in early 2023. Drilling is currently ongoing in Sweden and expected to continue until permitted by the local reindeer husbandry. This current drill program represents a continuation of phase 1 drill program that was initiated in late 2021.
The company plans to complete up to 1,500 metres of diamond drilling at the Aida target on the Paubacken Project using one drill rig. The program is designed to test over 800 metres of a 5-km identified structural corridor coincident with anomalous top of bedrock gold and pathfinder anomalism. The program will step out on the 22.5 metres at 2.4 g/t gold intercept encountered in 2021 to understand size, geometry, and structural controls of mineralization along the Aida structural corridor.
Aida Target: The Phase 1 program in late 2021 completed 5-hole 760-metre winter drilling program was encouraging and confirmed bedrock mineralization identified in the 2021 regional BoT/ToB drilling program.
The campaign included 22.5 metres of 2.4 g/t gold in PAU21003, located under approximately 20 metres of glacial till cover. The 2022 diamond drilling program intends to step out on this intercept to depth and along strike to the north and south on the Aida structural corridor. In 2021 wide-spaced regional BoT/ToB drilling identified several additional anomalous Au and pathfinder anomalies at Aida coincident with sub-parallel structural corridors.
The Paubacken Project consists of three main target zones, Aida, Belle and Harpsund. Summer work programs continued systematic exploration of the target areas and leave the company well positioned with extensive targets in the project area.
“We are excited to confirm mineralization on this step down hole and continue to be encourage by what is being identified in this program. We are testing an 800m section of a 5km long structural corridor which resides less than 5km NE of the operating Svartliden mill,” commented cCEO Adam Cegielski.
Gold Line currently holds a prospective portfolio of gold exploration projects in Sweden and Finland. In Sweden projects are located in the Gold Line Mineral Belt and Skelleftea Belt of north-central Sweden, and the Mjosa-Vanern Belt in southwest Sweden. In Finland Gold Line holds the entire underexplored Oijarvi Greenstone Belt located in northern Finland.