Casa Minerals Inc (TSX-V:CASA, OTC:CASXF) has announced assay results of the initial exploration at its Congress Gold Mine Project in Arizona, which included 14.9 grams per tonne (g/t) gold over 1.5 meters (m) as part of a larger intercept of 3.5 g/t over 10.7m.
The explorer and mineral properties developer said results of the field program exceeded expectations, with all the drill holes intersecting the Niagara and Congress Veins extensions on the property and yielded several noteworthy gold intercepts and long intervals of strong gold enrichment.
Casa noted that three distinct areas of gold potential have been identified, two of which were revealed by previous drilling and one is newly discovered, and named for convenience Congress z1, z2 and z3, respectively.
READ: Casa Minerals stakes more mineral claims next to its Congress Gold Mine property in Arizona
The company added that the results, which included compilation of historic data and drilling of 10 holes, demonstrate significant exploration potential of the property.
As well, Casa said its drilling was directed to southeast parts of the Congress Mine where historic work indicated possible extensions of mined areas and to other areas of potential gold mineralization.
The Congress gold mine operated at intervals from 1887 to 1992, with reported production of about 400,000 to 500,000 ounces of gold by previous operators included Echo Bay Mines Ltd and Malartic Hygrade, according to the company.
Casa Minerals is engaged in the acquisition, exploration and development of mineral properties in Canada and the US. It owns 90% interest in the Congress gold mine in Arizona.
In addition, Casa owns a 100% interest in the polymetallic Pitman and Keaper properties in British Columbia and has an option to acquire a 75% interest in the Arsenault VMS property in Canada.
Contact Sean at sean@proactiveinvestors.com