Gold Springs Resource Corp.(TSX:GRC) has made a new discovery with drilling at the “Tremor” target in Nevada, USA.
The discovery was confirmed in assay results from hole J-21-015which measured an average of 1.0 g/t gold equivalent over more that 160m located 180m south of the discovery hole J-21-006.
The company said these results confirm the existence of a new gold mineralising system called “Intrusive-Related Gold System (IRGS)”on a new target which the company has named “Tremor”.
This new gold system is situated along the northern extension of the Jumbo Trend of the large Gold Springs project of 8000 ha located on the border of Nevada and Utah.
J-21-015 Highlights include 1.0 g/t gold equivalent over 163.1m:
- 1.42 g/t gold equivalent over 33.5 meters within the vein, which includes,
- 3.26 g/t gold equivalent over 10.7 meters within the vein, and
- 0.94 g/t gold equivalent over 123.5 meters within the intrusive and contact zone.
Randall Moore, Executive Vice President of Exploration, said the company has been anxiously awaiting these results which now confirm what what it believes to be a major new discovery.
“The existence of an IRGS at Gold Springs opens a potentially large area to develop a new gold resource.
“Hole J-21-015 extended both the high-grade vein system and the gold mineralisation associated with the intrusive first seen in hole J-21-006. We would also like to highlight that both holes ended in gold mineralization.
“We are now awaiting assays from another 15 holes at ‘Tremor’ that are currently in the laboratory for testing. Drilling has extended this northern vein for over 200m and the “Tremor” intrusive zone for 600m along strike as seen in the drill cuttings. The thickest intercept within the intrusive thus far has been 280m.”
GRC is waiting to receive assays from 24 holes on two targets – 15 from “Tremor” and nine from “White Point” – in the coming weeks.
Intrusive-Related Gold System (IRGS) at Tremor
GRC is confident of the presence of an Intrusive-Related Gold System within the “Tremor” target situated along the north extension of the Jumbo Trend in Utah where a strong CSAMT high resistivity anomaly extends for 1,200 meters.
GRC has been focused on defining gold resources related to epithermal gold systems where four resource areas have been identified thus far, all remaining open to expansion. Epithermal systems are generally emplaced at shallow depths, typically related to volcanic activity, and have a strong structural control of the gold mineralisation.
Intrusive-Related Gold Systems (IRGS) form at deeper levels with the gold controlled by thin stockwork veins, breccias, or disseminated within the intrusion. IRGS are known to form large gold deposits.
The new “Tremor” target has magnetite as a dominant component deeper within the intrusive and the alteration is characterised by secondary biotite and potassium feldspar. It is possible that the two systems, epithermal and IRGS, are of different ages and only related spatially. From the results received thus far both stockwork veining and disseminated gold appear to be components of this new discovery.
The gold-bearing intrusive was emplaced along a strong north-south structural corridor and has been traced in drill holes for nearly 600m. Intercepts of the intrusive range from three to 280m with the thickest intercepts bottoming in the intrusive.
Holes in the “Tremor” target area also intersected rhyolites and mafic dikes which have been shown to contain gold mineralisation within the contact zone of the “Tremor” intrusive.
2021 ongoing drilling programme
The Company has completed 18 holes at “Tremor” designed to test the extent of the intrusive hosted gold system. These holes demonstrate the intrusive extends for 600m and is open to the north, south and at depth. In addition, the vein system in hole J-21-006 has been traced for 200m.
The drill has moved to “Charlie Ross” where eight additional holes are planned to follow-up that new discovery, while GRC waits for assays on the remaining 15 holes at “Tremor”.
Once those assays are received, the company plans to drill additional holes at “Tremor”.
For further information please visit: https://goldspringsresource.com/
