Goldstorm Metals Corp. [GSTM-TSXV; B2U-FSE] has begun a diamond drill program on its 100%-owned Electrum gold and silver property, located within the Golden Triangle region of British Columbia.
The Program at Electrum will total approximately 3,000 metres over 7 to 9 drill holes targeting high-grade gold and silver intervals reported from previous drill programs by other operators. In prior programs, several of the drill-tested targets returned high-grade results, including 31.40 g/t gold and 19.0 g/t silver over 2.0 metres and 440.8 g/t gold and 400.0 g/t silver over 0.52 metres.
Drill targets will also include areas of gold-bearing surface samples collected by Goldstorm over the past year within the historical East Gold Mine area, where intermittent small-scale, underground production between 1939 and 1965 produced 3,816 ounces of gold and 2,442 ounces of silver from 45 tons of hand selected ore. Sampling and mapping by Tudor Gold Corp. in 2020 further support this prospective target, as a verification chip sample taken within this area returned values of 101.60 g/t gold and 20,334.0 g/t silver.
Ken Konkin P. Geo., President and CEO commented: “Our start-up operations at Electrum have gone very smoothly. We have set-up the camp at the former Granduc mill-site and we thank our good friends at both Castle Resources Inc. and Scottie Resources Corp. for sharing this facility with Goldstorm Metals Corp. Two diamond drills have been mobilized to the Electrum project. One fly drill will concentrate on the peripheral intrusive-related, or porphyry-style targets, while a track-mounted drill will be set up on the numerous high-grade structurally-hosted targets near the main showings. Currently, only the fly drill is operating while we prepare sites for the track-mounted drill. We anticipate alternating the same drill crew between the fly drill and the track-mounted drill so that we can receive and assess the results from the first hole at the porphyry-style target before planning more holes at that site. One huge advantage that this program has is the excellent road access to the property. An excavator has been dispatched to restore all the old access roads, in anticipation of using our track drill to test several of the priority targets.
“In addition to the drilling program, for the past month geological crews have been undertaking daily prospecting and mapping traverses at the Crown claims, to the northwest of Electrum, and we continue to discover new structures and mineralized zones. Results from these newly discovered base and precious metal occurrences will be reported in the coming weeks. Given that the Electrum-Crown group of claims hosts potential for various types of mineralization, including epithermal/low-sulphidation, high-grade Au-Ag structures, as well as bulk-tonnage Au-Cu-Ag porphyry, and VMS styles of deposits, we are very excited to embark on this initial Goldstorm Metals Corp exploration program.”
The Electrum Property is located directly between Newmont’s Brucejack Mine, approximately 20 km to the north, and the past producing Silbak Premier mine, 20 km to the south.
In addition to high grade gold and silver mineralization targets, Electrum hosts untested geophysical anomalies at depth beneath the main vein zones, as well as an area at the south end of Electrum that shows evidence of potential porphyry-style mineralization.
Goldstorm Metals has a large strategic land position in the Golden Triangle of British Columbia, an area that hosts some of the largest and highest-grade gold deposits in the world. Goldstorm’s flagship projects Crown and Electrum cover an area that totals approximately 16,469 hectares over 7 concessions, of which 6 are contiguous. The Crown Project is situated directly south of Seabridge Gold’s KSM gold-copper deposits and Newcrest Gold’s Brucejack/Valley of the Kings gold mine. Electrum, also located in the Golden Triangle of BC, is situated directly between Newmont’s Brucejack Mine, approximately 20 km to the north, and the past producing Silbak Premier mine, 25 km to the south.