P2 Gold Inc. (TSXV:PGLD) has received positive results from four reverse circulation (RC) drill holes (GBR-032 to 035) of the initial 2022 Drill Programme at its Gabbs Project located on the Walker-Lane Trend in Nevada.
“Following upon the success of our 2021 drill programme at Gabbs, we completed a 22-hole, 4,000m RC drill programme at Gabbs in January and February of this year,” President and CEO, Joe Ovsenek, said.
“This drilling focused on extensions to the Car Body and Sullivan Zones and infill and extensions to the Lucky Strike Zone. As we set our sights on delivering a preliminary economic assessment on Gabbs in the fourth quarter of this year, we will turn our attention to expanding the oxide mineralisation in future drill programme, which will be the first to be accessed in a mine plan.”
The initial 2022 Drill Programme commenced at the Car Body Zone and then moved to the Sullivan and Lucky Strike zones before returning to the Car Body Zone to finish the programme.
Select drill results from holes GBR-032 to GBR-035 drilled at the Car Body Zone include:
- Hole GBR-033 intersected 2.96 g/t gold over 22.86 m, including 12.19 m grading 5.00 g/t gold; and
- Hole GBR-035 intersected 1.13 g/t gold over 39.62 m, including 13.72 m grading 2.73 g/t gold, and 0.51 g/t gold over 28.96 m
Drill holes GBR-032 to 035 were designed to test for structural controls on the mineralisation at the Car Body Zone, which is the smallest tonnage, but highest-grading gold zone on the property. The gold at Car Body is interpreted to be low-sulphidation epithermal mineralisation and is open in all directions.
These initial four holes have confirmed the results from the historical drilling at Car Body and have locally expanded the mineral intersections.
The ore controls appear to be related to a set of steeply dipping, east-west quartz stock work typical of the Walker Lane Trend. Two north – south oriented holes were completed at the end of the program to test for this stockwork. Higher density drilling is expected to intersect more mineralization with the net effect of expanding the bulk tonnage resources.
Gabbs Metallurgy and Geophysics Programmes
The Phase Two metallurgical programme is nearing completion. The results of the programme will be used as the basis for a preliminary economic assessment targeted for completion in late 2022.
In the field, a 48.3-line km Natural Source Magneto Telluric (NSMT) survey has been completed over the project covering all four known zones of mineralisation and the prospective locations of the potential gold-copper porphyry source at depth.
An interpretation of the NSMT survey indicates an anomaly, that may be the potential source of the Gabbs porphyry mineralisation, midway between the Sullivan and Lucky Strike zones at a depth of approximately 400 m.
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