Promising Rock Chip Samples Collected In 2020 Field Programme
Walcott Resources Ltd (CSE: WAL) has received positive results from recent rock chip sampling on the company’s Cobalt Hill Property located near the City of Castlegar, in Southern British Columbia.
CEO, David Thornley-Hall, said the company is encouraged by evidence of low-grade, bulk-tonnage style gold mineralisation within intrusive rocks on the property.
Known gold mineralisation on the Cobalt Hill property consists of numerous narrow intrusive-hosted high-grade quartz veins containing visible gold (i.e. Maude S vein: 38.0, 39.0 and 85.6 ppm Au; High Grade vein: 14.4 ppm Au, 38.0 ppm Au, 88.4 ppm Au, 413.0 ppm Au).
The 2020 exploration programme was directed at assessing the potential for larger zones of low-grade gold mineralisation on the property, rather than repeat sampling of these known high-grade areas. Geological mapping was completed and a total of 60 rock samples, including field duplicates and independent QA/QC standards of known grade, were submitted for analysis.
The majority of rock samples were from the Meister-Marilyn zone where strong sericite-altered intermediate intrusive, with local silicification and quartz veining, occurs within in a 200 x 100 m heavily forested area. Narrow quartz veins at the Meister/Marilyn zone have returned elevated gold values from historic grab samples, including 37.3 ppm Au. A grab sample from the Meister zone collected by the company in 2019 returned 8.0 g/t Au. This area is untested by drilling.
Induced polarisation is being considered for this area. Modern trenching is also being considered to better expose rock in this area for systematic sampling prior to possible diamond drilling.
The second area targeted in the recent work programme was a 650 x 250m coincident magnetic low anomaly and gold-in-soil geochemical anomaly with values to 622 ppb Au, which is located approximately two km east of the Meister/Marilyn zone.
Historic rock samples from within the target area have returned greater than 2 ppm gold from grab samples of float material.Abundant quartz veining occurs in float, outcrop and sub-crop in this area. None of the grab rock samples collected in the 2020 program were significantly elevated in gold, but as at the Meister/Marilyn zone, a correlation is observed between gold and silver and arsenic and suggests a similar mineralisation and alteration style. The large gold soil anomaly remains unexplained, is untested by drilling, and is a high priority target for follow-up. Walcott is considering a winter programme of induced polarisation to provide further definition to the area, prior to drill testing.
