6 Targets with Substantial M&I Resources, Wide Open for Expansion

The 2022 drill program completed 77 RC holes for a total of 16,226 meters 

  • 24 holes around South Jumbo resource,
  • 22 holes around North Jumbo resource,
  • 19 holes around Charlie Ross resource (2021discovery),
  •   2 holes on Snow target (2022 discovery),
  •   5 holes on Red Light target,
  •   5 holes on Horseshoe Extension target.

Assays have been received from 41 RC holes: 20 of the 24 at South Jumbo, 13 of the 22 at North Jumbo, 6 of the 19 at Charlie Ross, 2 at Snow, none from the Red Light and Horseshoe Extension targets.

2022 Drilling results:

  • South Jumbo: Expansion of the resource (see link).
  • North Jumbo: Expansion of the resource (see link).
  • Charlie Ross: Expansion of the resource (see link).
  • Snow: Discovery of a new gold mineralization (see link).

At the South Jumbo resource, the 20 drill results received have extended gold mineralization to the west and at depth and to the north. The resource remains open along the western and eastern margins, and to the north where 4 additional holes have been completed and await results.

At the North Jumbo resource, the 13 drill results received have extended gold mineralization in a western parallel mineral block and to the south into a new structural block extending gold mineralization 200 meters south of the North Jumbo Resource with hole J-22-005 returning 1.87 g/t gold equivalent over 29 meters including 3.73 g/t over 9.2 meters, and with hole J-22-004 returning 0.57 g/t gold equivalent over 41.2 meters and 1.88 g/t over 6.1 meters. Of the 9 holes awaiting results, 5 additional holes are looking to extend mineralization further to the south.

At Snow target, the 2 first drill holes ever completed resulted in a new discovery with hole SN-22-002 returning 1.98 g/t gold equivalent* over 3.0 meters and 0.70 g/t gold equivalent over 27.4 meters.

*Gold equivalent based on US$1,800/oz gold, US$25/oz silver and 50% for silver recovery.

The 2022 core drilling was designed to test deeper portions of the systems and to collect material for metallurgical testing. The Company had completed 3 diamond core holes, one at South Jumbo, one in the Tremor target discovered in 2021 and now part of North Jumbo, and one at Charlie Ross for a total of 695.5 meters. No assays have yet been received from the core drilling.

The ground based CSAMT geophysical survey covering most of the 33 targets was completed in August 2022.


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