Gold79 Starts Drilling at Gold Chain Project, Arizona
Gold79 Mines has initiated a new drilling program at its Gold Chain Project in Arizona. The program consists of seven core holes totaling approximately 1,000m, following up on successful 2023 drilling results. The first hole will test below previous Hole GC23-28, which yielded 51.1 g/t Au over 9.1m. The program aims to test the Tyro Main structure and provide additional geological context to previous drilling work. Previous significant results include 44.2m at 2.10 g/t Au in hole GC23-23 and 21.2m at 1.73 g/t Au in GC21-16. The company plans a follow-up program in Q1 2025, leading to a maiden resource estimate.
Gold79 Mines ha avviato un nuovo programma di perforazione presso il suo Gold Chain Project in Arizona. Il programma consiste in sette fori estrattivi per un totale di circa 1.000m, a seguito dei risultati di perforazione del 2023, che hanno avuto successo. Il primo foro testerà il sito al di sotto del precedente foro GC23-28, il quale ha prodotto 51.1 g/t Au su 9.1m. L'obiettivo del programma è testare la struttura principale di Tyro e fornire un ulteriore contesto geologico rispetto ai precedenti lavori di perforazione. I risultati significativi precedenti includono 44.2m a 2.10 g/t Au nel foro GC23-23 e 21.2m a 1.73 g/t Au nel GC21-16. L'azienda prevede un programma di follow-up nel primo trimestre del 2025, conducendo a una stima di risorse iniziali.
Gold79 Mines ha iniciado un nuevo programa de perforación en su Gold Chain Project en Arizona. El programa consiste en siete pozos de núcleo que totalizan aproximadamente 1,000m, tras los resultados exitosos de perforación de 2023. El primer pozo probará debajo del pozo anterior GC23-28, que arrojó 51.1 g/t Au sobre 9.1m. El programa tiene como objetivo probar la estructura principal de Tyro y proporcionar un contexto geológico adicional a los trabajos de perforación previos. Los resultados significativos anteriores incluyen 44.2m a 2.10 g/t Au en el pozo GC23-23 y 21.2m a 1.73 g/t Au en el GC21-16. La compañía planea un programa de seguimiento en el primer trimestre de 2025, que llevará a una estimación de recursos iniciales.
Gold79 Mines는 아리조나의 Gold Chain Project에서 새로운 시추 프로그램을 시작했습니다. 이 프로그램은 2023년 시추 결과에 따라 약 1,000m에 걸쳐 7개의 코어 구멍으로 구성되어 있습니다. 첫 번째 구멍은 이전 구멍 GC23-28 아래를 시험하며, 이 구멍은 9.1m에 대해 51.1 g/t Au를 생산했습니다. 이 프로그램의 목적은 Tyro Main 구조를 검사하고 이전 시추 작업에 대한 추가 지질적 맥락을 제공하는 것입니다. 이전의 중요한 결과에는 구멍 GC23-23에서의 2.10 g/t Au에 대해 44.2m과 GC21-16에서의 1.73 g/t Au에 대해 21.2m이 포함됩니다. 회사는 2025년 1분기에 후속 프로그램을 계획하고 있으며, 이는 최초의 자원 추정으로 이어질 것입니다.
Gold79 Mines a lancé un nouveau programme de forage sur son Gold Chain Project en Arizona. Le programme se compose de sept trous de carottage d'une longueur totale d'environ 1.000 m, suite aux résultats de forage fructueux de 2023. Le premier trou testera sous le précédent trou GC23-28, qui a donné 51.1 g/t Au sur 9.1m. L'objectif du programme est de tester la structure principale de Tyro et de fournir un contexte géologique supplémentaire aux travaux de forage précédents. Les résultats significatifs précédents incluent 44.2m à 2.10 g/t Au dans le trou GC23-23 et 21.2m à 1.73 g/t Au dans le GC21-16. La société prévoit un programme de suivi au premier trimestre 2025, menant à une première estimation des ressources.
Gold79 Mines hat ein neues Bohrprogramm in seinem Gold Chain Project in Arizona initiiert. Das Programm besteht aus sieben Kernbohrungen mit insgesamt etwa 1.000 m, um an die erfolgreichen Bohrergebnisse von 2023 anzuknüpfen. Das erste Bohrloch wird unterhalb des vorherigen Lochs GC23-28 testen, das 51.1 g/t Au über 9.1m ergab. Das Ziel des Programms ist es, die Tyro Main Struktur zu testen und zusätzlichen geologischen Kontext zu den vorherigen Bohrarbeiten zu bieten. Zu den vorherigen bedeutenden Ergebnissen gehören 44.2m bei 2.10 g/t Au im Loch GC23-23 und 21.2m bei 1.73 g/t Au im GC21-16. Das Unternehmen plant ein Folgeprogramm im ersten Quartal 2025, das zu einer ersten Ressourcenschätzung führen wird.
- Previous drilling success with high-grade gold intersections of 51.1 g/t Au over 9.1m
- Trenching results showed 39.7 metres at 1.14 g/t Au
- Progress toward maiden resource estimate
- Consistent gold mineralization across multiple drill holes
- None.
Ottawa, Ontario--(Newsfile Corp. - October 31, 2024) - Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) ("Gold79" or the "Company") is pleased to announce that it has commenced drilling at its Gold Chain Project in Arizona. This next phase of drilling is expected to consist of seven core holes totaling approximately 1,000m.
Derek Macpherson, Executive Chairman, CEO and Director stated, "We are excited to continue drilling at Gold Chain following up on the drilling success from 2023. Importantly, the first hole of this new program will test below Hole No. GC23-28, which returned 51.1 g/t Au over 9.1m within a broad zone of gold mineralization recorded from surface to the end of hole. Also, this core program coupled with the prior work completed should move the Company one step closer to delivering a maiden resource at Tyro."
Figure 1: Drill Rig at Gold Chain Project, Arizona, starting hole GC24-29
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/5717/228425_figure1.jpg
Drill Program
Planned drilling consists of seven HQ core holes, totaling approximately 1,000 metres to test along the Tyro Main structure as well as to depth, within the Gold Chain project. The core drilling program has been designed to provide additional geologic context to previous reverse circulation drilling; surface and underground mapping/sampling; and, the recently completed trenching program. Core holes are intended to confirm the geologic model and grade continuity along the nearly 1km strike. Increased confidence in the geologic model will assist Gold79 in the design of additional drill holes proposed for early 2025 to advance this target toward a maiden resource (Figure 2).
The final hole of the 2023 drill program, GC23-28, intersected 51.1 g/t Au over 9.1m at the intersection of the Whitespar fault and the Tyro Main zone within a broad zone of gold mineralization recorded from surface to the end of hole depth of 85.3m. Trenching conducted by Gold79 in May 2024 across this intersection returned 39.7 metres at 1.14 g/t Au and corroborated a N-NW trend to the Whitespar chalcedony vein swarm.
The first hole of the current program, GC24-29, is designed to traverse this zone beneath GC23-28 about 80 metres below the surface exposures. There are also one or two additional holes planned to test the intersection of these two structures.
The balance of the drill holes are designed to test the northeast-trending Tyro Main Zone vein grades, density and orientations along the main zone. Most of the holes will test the 500m drilling gap between hole GC23-23 which returned 44.2m at 2.10 g/t Au and GC21-16 which returned 21.2m at 1.73 g/t Au. Historical mining, geologic mapping and trenching support continuity along this zone.
It is anticipated that the results from this drill program should provide the data required to design a follow-up drill program. The follow-up program is expected to be completed in Q1 2025, following which the Company plans to complete a maiden resource estimate.
Figure 2: Tyro Main Zone Plan View with Proposed Drill Holes
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/5717/228425_56b2868134e03ab5_002full.jpg
Qualified Person / Quality Control and Quality Assurance
Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company's Vice President, Exploration is a qualified person ("QP") as defined by NI 43-101 and has reviewed and approved the technical content of this press release. Mr. Johansing has been responsible for all phases of work conducted to date at Gold Chain by Gold79.
About Gold79 Mines Ltd.
Gold79 Mines Ltd. is a TSX-V listed company focused on building ounces in the Southwest USA. Gold79 has four gold projects, two of which are partnered with major gold producers (Kinross at Jefferson Canyon and Agnico at Greyhound). Gold79 is focused on establishing a maiden resource at its Gold Chain project in Arizona and advancing its Tip Top Project in Nevada.
For further information regarding this press release contact:
Derek Macpherson, Executive Chairman and CEO, Gold79
Phone: 416-294-6713
Email: dm@gold79mines.com
Or
Quentin Mai, President, Gold79
Phone: 604-638-5622
Email: quentin@gold79mines.com
Website: www.gold79mines.com.
Book a 30-minute meeting with Derek Macpherson here.
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FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including the proposed amalgamation transaction with Bullet Exploration Inc., any future tranches of the current private placement or future private placements, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company's future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR at www.sedar.com. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228425
FAQ
What are the latest drilling plans for Gold79 Mines (AUSVF) at Gold Chain Project?
When will Gold79 Mines (AUSVF) complete its follow-up drilling program?
What were the significant gold intersections from Gold79's (AUSVF) previous drilling at Gold Chain?
