Carlyle Commodities Corp (CSE:CCC, OTC:DLRYF) announced that it has completed its first drill hole of over 1,000 meters (m) at its 100%-owned Newton gold-silver project near Williams Lake in British Columbia.
The company noted that the Newton gold-silver project is a low-sulphide epithermal system. The system remains open in multiple directions, within a highly prospective land package that is workable year-round, it added.
”We are thrilled to have completed this first deep drill hole, testing depths never seen at Newton,” Carlyle vice president of exploration Jeremy Hanson said in a statement.
WATCH: Carlyle Commodities completes drill hole over 1000 metres at Newton Project in British Columbia
The company said its Phase 1 diamond drill program, which recently kicked off, is intended to test high-priority targets with the aim of increasing both tonnage and ounces of the company's current National Instrument 43-101 - Standards of Disclosure for Mineral Projects pit-constrained inferred mineral resource estimate.
The initial focus tested a key zone of felsic volcanic host rock that is outside of the current pit-constrained inferred mineral resource estimate to discover a new zone of mineralization, Carlyle said. The initial target's main objective is to test the continuity of the well-mineralized main felsic domain, which remains open at depth below approximately 500m from historical drilling, it added.
Carlyle said it successfully completed this first hole by drilling to a depth of 1,001m directly through the current inferred resource and extending to untested sections of the felsic domain at depth. Visual reports indicate that much of the host rock encountered throughout the entire 1,001m of drill length encompasses the felsic volcanic unit, which historically hosted much of the gold and silver mineralization within the current inferred resource.
“Our modelling indicates several mineralized felsic domains expanding outside of the current inferred resource with potential for discoveries of new zones of mineralization,” Hanson added. “This initial hole tested beyond the depth of the current inferred resource by approximately 500 meters, most of which cut through the targeted felsic volcanic unit host rock,”
Carlyle Commodities Corp is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties.
The company owns 100% of the Newton gold project in the Clinton Mining Division of British Columbia.
Contact the author at stephen.gunnion@proactiveinvestors.com