Major Gold Discovery At The Green Springs Project
VANCOUVER - Contact Gold Corp. announced the drilling of a new gold discovery at its Green Springs gold project in White Pine County, Nevada. Drill Highlights: 0.55 g/t oxide Au over 54.86 m in drill hole GS21-31, from a depth of 19.81 meters, including 1.34 g/t Au over 3.05 m; 1.01 g/t oxide Au over 13.72 m in drill hole GS21-32 from a depth of 24.38 meters, including 2.71 g/t Au over 3.05 m; and 0.87 g/t oxide Au over 13.72 m in drill hole GS21-27 from a depth of 15.24 meters, including 1.5 g/t Au over 4.57 m. Key Points: New gold discovery made at the Tango Target in the northern portion of Green Springs; Tango represents a step out of over 500 meters from the next closest drill holes at the Alpha Zone (see news release dated April 14, 2021), and remains open for expansion, particularly to the south and west; An additional 15 drill holes drilled at the Tango Target all intercepted intervals of near surface, oxidized gold mineralization over an area of 250 x 500 meters; Tango was identified by soil and rock geochemical sampling and was never before drilled; all holes drilled by Contact Gold at Tango intersected significant gold mineralization; Road cut sampling and additional detailed mapping are underway to refine targeting ahead of the next phase of drilling; and Contact Gold has staked an additional 18 claims to the north of the Tango discovery, covering 15.5 Hectares or 36 Acres of prospective ground.
"We are ecstatic to have discovered a large new zone of oxidized gold mineralization at Green Springs. Opportunities to generate and drill shallow, new targets that result in new discoveries are becoming increasingly rare in Nevada, especially on the major gold trends," said Matt Lennox-King, President & CEO. "The Tango discovery, with its large surface footprint, strong oxide grades and thicknesses is a testament to the quality of targets that Vance Spalding, Contact Gold's Vice President of Exploration and his team have generated at Green Springs. We are excited to get back on the ground at Tango and continue growing this exciting new discovery. In the meantime, we are excited to receive results from the newly drilled connector zone, which are the first ever holes into a 500-meter gap between the Mine Trend and Alpha Zone."
The Tango Discovery is located 500 meters to the NE of the Alpha Zone, and represents an entirely new gold zone. The Devonian limestone/shale host at Tango and Alpha is underexplored at Green Springs where it underlies the Mississippian limestone/shale contact that was previously exploited along the mine trend. Gold mineralization at Tango is mostly hosted within decalcified and variably oxidized and silicified Pilot Shale with minor mineralization in collapse breccia of the underlying Guilmette limestone. Northwest and North-South striking, high angle faults control the gold mineralization at Tango. It is open for expansion, particularly to the south and west, plus road cut sampling and detailed mapping of the Tango drill road are underway to collect the necessary data to plan the 2nd phase drill program.