Carlyle Commodities Corp (CSE:CCC, OTCQB:CCCFF) said it has received encouraging assays from its second drill hole at its 100% owned Newton Gold-Silver Project near Williams Lake, British Columbia.
The Newton Gold-Silver Project is a low sulphide epithermal system which remains open in multiple directions, within a highly prospective land package that is workable year-round.
Drill hole N23-090 was collared approximately 116 meters south of N23-089 along the southern limits of the historic drilling and was successful in confirming felsic volcanic host rock contained contiguous gold and silver credits from approximately 20 meters below surface to a depth of approximately 220 meters. The feedback from this drill hole is positive for the Newton Project showing further continuity of the inferred resource around the southern border, the company said.
READ: Carlyle Commodities drills long gold interval near surface at Newton project in British Columbia
Highlights from drill hole (N23-090) totalling 251 meters include:
- Confirmation that persistent gold mineralization is present from just below surface to approximately 220 meters depth near the southern boundary of the known inferred resource.
- Confirmation of consistent mineralization in the upper portions of the deposit where the southern boundary is irregular, but sharp.
- The drill hole intercepted strong silica - sericite altered felsic volcanics with disseminated pyrite - marcasite +/- sphalerite.
“We are very encouraged with this drill hole which demonstrates consistent well-mineralized felsic volcanics along the southern boundary. As well we are eagerly awaiting results from drill hole N23-091 which tested the downdip extension of the mineralized zone encountered in N23-089," Jeremy Hanson, Carlyle VP Exploration, said in a statement.
"Drilling approximately 200 meters from near surface of half a gram gold shows again the consistency and continuity of gold in this known inferred resource. Carlyle's team is very pleased to demonstrate another positive intercept and is eager to see what remaining assays will tell us as we begin planning strategy around a Phase 2 campaign," added Morgan Good, the company’s CEO.
Carlyle is awaiting assays of the remaining drill hole N23-091 from its Phase 1 program which was a total of 774 meters and expects to update the market in due course.
Newton Project
The Newton Project contains a current NI 43-101 Resource Calculation which utilizes optimized pit shell constraints to fulfil the requirement for "reasonable prospects for eventual economic extraction". The inferred mineral resource contains 861,400 ounces (oz) of gold (Au), and 4,678,000 oz of silver (Ag) with an average grade of 0.63 grams per ton (g/t) Au, a cut off of 0.25 g/t Au throughout 42,396,600 tonnes.
Highlights:
- The Newton Project is a large, bulk tonnage, low - to intermediate-sulphidation, epithermal gold deposit with nearly 35,000 metres (m) of drilling exploring and developing the historical resource, primarily between 2009-2012.
- Updated inferred pit-constrained mineral resource contains 861,400 oz of Au, and 4,678,000 oz of Ag with an average grade of 0.63 g/t Au, a cut-off of 0.25 g/t Au throughout 42,396,600 tonnes.
- The Newton Project encompasses more than 24,000 hectares.
- Mineralization occurs within an 800m x 400m area defined by drilling to depths of approximately 500m with the majority of the drill holes not exceeding 300m depth.
- Underlying the deposit, a large IP anomaly measures 4 kilometres (km) x 2 km and covers an area greater than 7 km square - yet the existing inferred mineral resource occupies slightly over 0.5 km square or just 7% of the anomaly.
- Gold and associated base metal mineralization precipitated in extensive zones of strong quartz-sericite alteration as well as in mafic volcanic and clastic sedimentary rocks and along fault and fracture zones.
- The alteration assemblages and metal associations at the Newton Project are similar the Blackwater Gold Project deposit of Artemis Gold Inc. The Blackwater Gold Project, which is in construction phase, is located approximately 185 km northeast of Newton, where it is one of Canada's largest open-pitable gold deposits and one of the world's largest environmental assessment-approved gold development projects. The Blackwater Gold Project has a measured + indicated resource estimated at 11.7 million ounces Au and 122 million ounces of Ag.
Carlyle is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. Carlyle owns 100% of the Newton Project in the Clinton Mining Division of British Columbia.
Contact the author at jon.hopkins@proactiveinvestors.com