Green Springs X-Ray Zone Extended In Step-Out Drilling

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

“The drill results from X-Ray significantly expand oxide gold mineralization to the west and south, and most importantly show that X-Ray remains wide open for growth and expansion.   As of today’s release, Contact Gold has drilled 20 holes at X-Ray since 2021, with the vast majority returning thick intervals of oxidized near surface gold mineralization,” said Matthew Lennox-King, President & CEO.  “Green Springs continues to surpass our expectations, with consistent shallow, oxidized gold intercepts coming from across the property.  The team is already focused on designing the next phase of drilling, to continue expanding the known zones and to drill the significant Whiskey and Foxtrot targets for the first time.”  

X-Ray Zone highlights: 0.86 g/t Au over 35.05 metres, from a depth of 77.72 metres, in drill hole GS23-13 - oxide, including: 1.22 g/t Au over 18.29 metres – oxide; 0.80 g/t Au over 48.77 metres, from a depth of 64.01 metres, in drill hole GS23-14 – mixed, including:  1.91 g/t Au over 15.24 metres – oxide; and 0.57 g/t Au over 18.29 metres, from a depth of 36.58 metres, in drill hole GS23-17 - oxide, including: 1.30 g/t Au over 3.05 metres – oxide.

Drill holes GS23-13 and GS23-14 were drilled from the new drill pad located 100 metres to the south of the X-Ray discovery zone, with GS23-17 drilled from a location 150 metres to the southwest. The X-Ray zone remains wide open for expansion, especially to the south, west and northeast.

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, as well as along a thrust fault within the Pilot Shale. The Pilot Shale is an important regional host unit in eastern Nevada and is host to the Pan Mine and Alligator Ridge among others.  2023 Drilling has highlighted the high degree of structural complexity in the north of Green Springs, a key for fluid pathways and formation of gold deposits. The 2023 drill 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.