Treasury Metals has announced initial results from the first phase of the ongoing infill drilling program at its 100% owned Goliath Gold Project located in Northwestern Ontario.
Treasury's current drilling program is primarily focused on the conversion of underground "Inferred" resources to the "Indicated" category that reside in and adjacent to the known Main Zone and C Zone gold-bearing shoots. During this multi-phase drill program, Treasury expects to test over 20 targets at vertical depths ranging from 360 m to 690 m from surface over a strike length of 950 m along the main gold deposit. Successful results of this program would enhance the underground resources in the mine plan for upcoming Pre-Feasibility level design studies.
Highlights from the initial Phase I drill program include Hole TL16-410 that intersected a well mineralized section of the central Main Zone shoot containing significant concentrations of visible gold and returning 11.55 g/t Au over a sample length of 6.0 metres (m) as tabulated below. This hole is located 40 m east of the new hole TL16-406 that returned 5.74 g/t Au over a sample length of 4.9 m.
Other highlights include drill hole TL16-405 that contained visible gold and returned 7.99 g/t Au and 4.48 g/t Ag over a sample length of 7.25 m (from 580.75 to 588.0 m), including 14.61 g/t Au and 6.21 g/t Ag over 3.79 m (580.75 to 584.54 m), in the B1 zone in an area of the deposit not previously tested providing new resource expansion opportunities in that portion of the deposit. Hole TL16-403B returned 5.06 g/t Au and 4.05 g/t Ag over a sample length of 2.0 m in association with visible gold. Due to deflection this hole did not test its intended target but did test an area where resource blocks were not previously defined resulting in the expansion of gold resource blocks in that particular area of the deposit as well.
Treasury has extended the drilling program from the initially planned 5,000 metres to target and convert additional deep underground "Inferred" resources. Further results will be released as the drilling program continues and new assays become available.