Oban Mining drills six metres of 19.63 g/t gold at Windfall

Oban Mining Corp. [OBN-TSX] has released new results from the continuing drill program at its 100%-owned Windfall Lake gold project located in Urban Barry township, 200 km northeast of Val-d’Or, Quebec. The 55,000-metre drill program combines definition drilling above the Red Dog intrusion and expansion drilling above and below Red Dog.

Highlights from the 12 new drill holes include: 19.63 g/t gold over six metres (below Red Dog) in the FW4 zone in DDH OBM-16-580; 31.10 g/t gold over 2.6 metres from the Caribou W2 zone (above Red Dog) in DDH OBM-16-570; and 97.27 g/t gold over two metres in the upper 27 lens in DDH OBM-16-572.

Refer to company press release for complete drill results

Drilling above Red Dog is focused on expanding the known zones and upgrading the level of confidence in the mineral resource. Drilling below Red Dog is focused on testing three major corridors of mineralization and alteration (FW-1, FW-3, FW-4) oriented east-northeast and dipping steeply to the southeast, similar to the known lenses of the Main zone defined above Red Dog. Some of the deeper holes are designed to test gold mineralization both above Red Dog and the corridors of mineralization and alteration below Red Dog.

OBM-15-560 (Section 2550 E) tested zones FW-1, FW-3 and FW-4 and intersected the FW-1 lens with 5.71 g/t gold over 13.0 metres at 1,123.0 metres (reported in news release dated Jan. 28, 2016). The drill hole also intersected the FW-3 and FW-4 lenses with anomalous gold values over five metres and 11.0 metres, respectively. OBM-15-560 also intersected a splay of the FW3 lens associated with a silicified porphyry dike containing 3 to 5 per cent pyrite and traces of chalcopyrite and returned 11.11 g/t gold over 6.2 metres at 1,196.8 metres.

OBM-15-564 (Section 2700 E) — assays are pending. OBM-16-570 (Section 2150 E) is a definition hole that targeted the Caribou W2 lens at approximately 80 metres below the surface. The lens corresponds to a strongly silicified, sericitized and chloritized rhyolite with 5 per cent pyrite and returned 31.10 g/t gold over 2.6 metres.

OBM-16-571, OBM-16-574 and OBM-16-575 all targeted the Caribou W2 lens whereas OBM-16-576 and OBM-16-578 tested the dip extension of the Caribou W1 lens. All of those drill holes intersected pyrite mineralization with silica alteration and confirmed the continuity of the mineralized system between the Caribou W1 and the Caribou W2 lenses. The drill holes returned anomalous mineralization such a 1.3 g/t gold over 11.11 metres (OBM-16-571), 0.8 g/t gold over nine metres (OBM-16-574), 0.7 g/t gold over 10.70 metres (OBM-16-575), 0.29 g/t gold over 9.2 metres (OBM-16-576) and 0.50 g/t Au over 10.5 metres (OBM-16-578).

OBM-16-571 (Section 2150 E) is a definition hole that targeted the Caribou W2 lens at approximately 80 metres below the surface. This drill hole intersected 32.26 g/t gold over two metres at 162.0 metres down–hole in the hanging wall of the Caribou W2 lens but only returned low-grade results in the targeted lens.

OBM-16-572 (Section 2400 E) is a definition drill hole that targeted zone 27 at mid-elevation (180 metres below surface). The targeted lens was intersected from 226.0 metres to 232.0 metres and assayed 1.8 g/t gold over six metres. This drill hole also intersected shallow high-grade mineralization returning 97.27 g/t gold over two metres at approximately 80 metres below surface in the upper extension of zone 27.

OBM-16-573 (Section 2725 E) was designed to test the eastern edge of the zone 27 lens at approximately 420 metres below surface. The targeted lens returned 4.86 g/t Au over 2.7 metres. This intersection is located 15 metres above drill hole EAG-12-400 that returned 12.1 g/t gold over 3.7 metres (see the news release of Eagle Hill Exploration Corp. dated July 23, 2012).

OBM-16-577 (Section 2950 E) targeted the down-plunge extension of the zone 27 above the Red Dog intrusion. This drill hole was abandoned due to excessive deviation but intersected 4.1 g/t gold over four metres at 129.0 metres in an altered porphyry dike with 1% pyrite. This intersection cannot be correlated with other known intercepts at this time.

OBM-16-580 (Section 2950 E) replaced drill hole OBM-16-577 and targeted the down-plunge extension of zone 27 and was extended below the Red Dog to target the FW-3 and FW-4 corridors. The zone 27 lens was intersected from 673.6 metres to 683.2 metres and consists of an altered andesite with 2-15% pyrite, traces of chalcopyrite and sphalerite crosscut by a 2.3-metre-wide porphyry dike. Assay results for this interval are pending. Below the Red Dog, this drill hole intersected the FW-4 lens that returned 19.63 g/t gold over six metres associated with a strongly silicified andesite crosscut by porphyry dikes with 2–8% of pyrite stringers and several specks of visible gold.

True widths are estimated at 65–80% of the reported core length intervals. Assays are uncut except where indicated.