The company recently completed the 6,536-metre program initiated in July, 2021. These results are from three core holes and one reverse circulation (RC) hole, comprising approximately 1,393 metres. A new core hole located 120 metres south of the original Water Well Zone (WWZ) discovery holes has returned the best grade-thickness yet reported from the zone, a span of 41.1 metres averaging 5.03 g/t gold in drill hole BHSE-212C, including 27.4 metres of 7.30 g/t gold, including 19.8 metres of 9.49 g/t gold, including 6.10 metres of 16.90 g/t gold.
Other significant gold intercepts from these holes include 9.1 metres of 1.21 g/t gold from 324.6 metres depth in BHSE-209 (an RC hole), including 4.6 metres of 2.07 g/t gold from 326.1 metres depth; and 9.1 metres of 1.34 g/t gold from 255.1 metres depth in BHSE-210C (a core hole).
Patrick Highsmith, President and CEO, commented, “We are very excited to report another thick, high-grade intercept from the Water Well Zone at our Eureka Project. In stepping out 120 metres south from previous drilling, we have drilled one of the best holes in the history of the Lookout Mountain area. The zone is showing good continuity and excellent grade, and it is wide open to the south and to the east. The Lookout Mountain resource and the IP anomaly in the Graben Zone continue well to the south from this drilling, and we look forward to testing our geologic model for the Water Well Zone in this highly prospective north-south corridor. We are planning extensive drilling to follow-up these excellent intercepts from both BHSE-212C and the previously reported BHSE-220C.”
These results constitute most of the balance of outstanding drilling data from the WWZ, which lies immediately east of the Lookout Mountain gold resource. Results are pending for portions of four additional holes from the WWZ, including BHSE-220C, which included a high-grade interval.
This basal unit of the Dunderberg Shale is now confirmed to be consistently mineralized and extensive over an elongate oval footprint spanning at least 400 metres in the south to north direction and 200 metres in the west to east direction.
The Eureka Property includes the historic Lookout Mountain and Windfall mines in a total property position of approximately 24 square miles (62 km2). Measured Resources are 3.04 million tons of 0.035 oz/ton gold, or 1.2 g/t gold, for 106,000 oz gold. Indicated Resources stand at 25.90 million tons of 0.016 oz/ton, or 0.6 g/t gold, for 402,000 oz gold. Inferred Resources are 11.71 million tons of 0.012 oz/ton, or 0.41 g/t gold, for 141,000 oz gold.