Drilling Of Oxide Gold At The Bravo Zone

VANCOUVER - Contact Gold Corp. reported results for 7 more drill holes completed at the Bravo Zone during the late 2020 drill program at the Green Springs gold property. Bravo Zone drilling was designed to confirm and expand near surface Pilot Shale hosted gold mineralization in the main Bravo Zone, as well as Chainman limestone hosted mineralization on the west side of Bravo in an area of extreme structural complication. Drill hole GS20-25 intersected well oxidized gold mineralization in the Chainman jasperoid with 10.70 g/t Au over 4.57 metres hosted within the NE oriented fault corridor. This well oxidized intercept occurs within a similar structural environment as the high-grade Echo Zone to the south, and is the highest-grade intercept ever encountered in the Bravo Zone.

The Bravo Zone is located in an area of extreme structural complication at the intersection of the northern end of the north trending Green Springs Mine Trend with a major fault extending from Bravo through Alpha and beyond. An east-west striking fault also controls mineralization at Bravo as has been observed at the Echo Zone. Gold mineralization is observed at both the lower Chainman jasperoid as well as the Pilot Shale, and the Pilot/Guilmette contact at Bravo.

"In 2019, we confirmed through our own drilling that the gold mineralization drilled at Bravo in the 1980's, was well oxidized, so we were anxious to get back there and drill more confirmation and exploration holes in 2020. The holes reported today continue to show more oxidized gold mineralization near surface at Bravo and an extremely exciting high-grade intercept in hole 25; reinforcing the potential for Green Springs to deliver very high grades." said, Matt Lennox-King, CEO. "At the Bravo Zone we see our two main target settings juxtaposed, with broad intervals of near surface, oxidized gold mineralization, hosted at both the Pilot Shale / Guilmette Limestone and Chainman Shale / Joana Limestone host horizons, as well as in the upper Pilot shale."