Green Springs Project Drill Holes Results

VANCOUVER - Contact Gold Corp. announced the second batch of drill results from the 2023 exploration program at the Green Springs gold project located on the Cortez Trend in northeastern Nevada.

The 2023 program was carried out as part of an earn-in at Green Springs by a wholly-owned subsidiary of Centerra Gold Inc. Contact Gold is the project operator at Green Springs.  A total of 4,028 metres of RC drilling in 29 drill holes were completed in this year’s program.  

“The excellent results from the most recently received X-Ray drill holes are extremely significant as they successfully extended gold mineralization to the northeast, increasing the drilled footprint of gold mineralization at this emerging oxide gold zone. Just like the previous holes drilled at X-Ray, they are well oxidized, thick and boast some of the highest grades seen at Green Springs,” said Matthew Lennox-King, President & CEO.  “

Highlights: 1.90 g/t Au over 25.91 metres, from a depth of 89.92 metres, in drill hole GS23-10 - oxide, including:  2.50 g/t Au over 18.29 metres – oxide; 1.41 g/t Au over 12.19 metres, from a depth of 85.34 metres, in drill hole GS23-11 – oxide, including:  2.45 g/t Au over 4.57 metres – oxide; 1.67 g/t Au over 10.67 metres, from a depth of 85.34 metres, in drill hole GS23-12 - oxide, including:2.03 g/t Au over 7.62 metres – oxide.  

These drill holes are the first holes drilled from the new pattern of drill roads and drill pads located to the south and west of the X-Ray discovery zone.  Drill holes GS23-10, GS23-11 and GS23-12 were angled to the northeast to further confirm and extend mineralization from the 2021 discovery holes at X-Ray.  The X-Ray target remains wide open for expansion, especially to the east, south and west.  X-Ray is near-surface, well oxidized, with exceptional grades and thicknesses.  

Gold mineralization at the X-Ray Zone is characterized by strong grades, oxidation, and continuity, and is hosted at the lower Pilot Shale contact with the underlying Guilmette limestone. The Pilot Shale is an important regional host unit in eastern Nevada and is host to the Pan Mine and Alligator Ridge among others.  

Further results are pending from 6 additional step-out and offset holes drilled at X-Ray during this year’s program.  The program wrapped up at the Tango Zone, which was also discovered by Contact Gold during the 2021 drill program, focusing on step-out holes to the north and west of the discovery zone.