Colomac Gold Project centrally located within its Indin Lake Gold Property, Northwest Territories in Canada. Dr Michael Byron, President and CEO said "We are very encouraged by the recent drilling at Colomac, which targeted high-profile areas within the Exploration Target where we are focused on building near-term ounces. The 280 metres of continuous downhole mineralization intersected in hole C20-06 illustrates the shear amount of mineralized rock hosted by the Colomac Main sill, reinforcing our beliefs in the future potential of the project. Drilling was also successful in opening up a new unexplored region of the sill and confirmed significant expansion and widening of the host quartz diorite portion of the sill to depth within the northern part of Zone 2.0. The drilling season at our Indin Lake Gold Property has now come to an end with a total of 22,993 metres of drilling completed at Colomac, the Treasure Island Gold Project, and a small campaign at the Leta Arm Gold Project, where results have already been released. The fifth drill has arrived on site, and camp expansion is nearing completion in preparation for the expanded 2021 program which will advance a number of regional assets that have high-grade potential."
COLOMAC DRILLING HIGHLIGHTS:
Hole C20-06 returned 252.13 metres (150.00 metres true width) of 1.84 grams per tonne gold including 200.45 metres (110.00 metres true width) of 2.01 gpt Au with several internal higher-grade intercepts.
Best continuous downhole mineralization encountered to-date (280 metres) with visible gold observed in 79 individual assay samples, extending a broad band of mineralization to new depths where it remains open.
Upper intersection - 19.38 metres of 2.30 gpt Au, including 3.40 metres of 7.47 gpt Au.
Mid-level intersection - 12.50 metres of 3.66 gpt Au, including 3.05 metres of 10.14 gpt Au.
Lower intersection - 17.50 metres of 3.35 gpt Au and 16.00 metres of 4.91 gpt Au, including 9.75 metres of 7.34 gpt Au, and including 5.50 metres of 11.14 gpt Au
C20-06 true width of 150 metres, is roughly triple its near surface size. Mineralization on this section spans from near surface to over 580 metres vertical depth where it remains open.
Zone 1.5-2.0 panel of mineralization (formed by the merger of Zone 1.5 and 2.0, considered to be the strongest mineralized section of the Colomac Main sill) was extended an additional 140 metres southward to upwards of 640 metres in strike length and remains open along strike and to depth.
Hole C20-03 intersected 38.25 metres (21.00 metres true width) of 2.09 gpt Au, including 10.50 metres of 4.16 gpt Au, and including 6.00 metres of 6.64 gpt Au.
C20-03 returned over 170 metres of relatively continuous downhole mineralization, resulting in a 100-metre true width at 550 metres vertical depth, further demonstrating the deposit's distinct widening to depth.
Hole C20-08 intersected 85.00 metres (43.00 metres true width) of 1.19 gpt Au, including 21.75 metres of 2.35 gpt Au, and including 12.25 metres of 2.91 gpt Au.
All four holes intersected mineralization at depth resulting in the expansion of known occurrences and the discovery of new areas of interest highlighted by hole C20-06 which tested a new area to depth at Zone 2.0 and confirmed the continued widening of the mineralized portion of the sill to depth. The 2020 drill program has also successfully completed some of the intersections required to help convert the "Exploration Target" opportunity into future resources