Contact Gold Drills 2.82 g/t Gold Over 45.72 Meters At Pony Creek

 

VANCOUVER, BC - Contact Gold Corp. reported drill results from the first 10 holes, totaling 2,064 meters of its maiden drill program at the Pony Creek gold property, located in Elko County, Nevada.

Pony Creek is comprised of 1,157 unpatented mining claims covering 95.4 square kilometers on the Carlin Trend between Kinross's Bald Mountain mine, Gold Standard Ventures’ Railroad/Pinion District and Newmont Mining’s Rain and Emigrant mines.  No drilling had been conducted at Pony Creek in 10 years.  All of the first 10 holes completed by Contact Gold returned anomalous to high grade gold intersections.

“We are very encouraged by the initial results from Contact Gold’s drilling at Pony Creek.  These results confirm the excellent potential and pervasive mineralization at Pony Creek which are some of the key factors that drove the acquisition, while presenting clear opportunities to expand mineralized zones,” stated Matt Lennox-King, President & CEO, “We believe that Pony Creek forms a prospective and strategic section of the southern Carlin Trend, and these initial results bolster that belief.”

These drill holes are from the ongoing 2017 diamond and RC drill program at Pony Creek, designed to confirm and offset gold mineralization intersected by previous operators.  To date, Contact Gold has completed over 4,000 meters of RC and core drilling in 19 holes.  The drill program forms part of a comprehensive property wide exploration program comprising over 4,000 soil samples, geological mapping, claim staking, gravity and CSAMT geophysical surveys.  Assays are pending for 13 holes, with a core drill rig and RC drill rig currently operating at Pony Creek.  Release sequence of drill results reflects scheduling and receipt of results from assay lab.

The comprehensive exploration program, initially focused on the “Bowl” area, and “Pony Creek North”, is designed to generate future exploration targets, and to build on the existing mineralized zones at Pony Creek, initially through confirming, understanding and expanding mineralization reported in historic drilling. The program integrates multiple techniques, including:  oriented core drilling, detailed surface mapping, biostratigraphic age dating, along with gravity and CSAMT geophysical surveys to gain the necessary stratigraphic and structural information to develop high potential drill targets along strike of the Pony/Dark Star/Emigrant structural corridor and elsewhere on the project where the regional host horizons and structural controls are present.

Drill holes were designed as infill to confirm mineralized areas in historic drilling and also as step outs, generally within 50 meters of historic holes, but up to 100 meters for two holes: drill holes PC17-07 and 017.

Pony Creek is an early stage exploration property and does not contain any mineral resource estimates as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101). There has been insufficient exploration to define a mineral resource estimate at Pony Creek.