Carlyle Commodities Corp (CSE:CCC, OTCQB:CCCFF) reported assay results Tuesday from the third and final dill hole of its Newton gold-silver project in British Columbia.
The Newton project, near Williams Lake, is a low-sulphide epithermal system that is open in multiple directions, including at depth. It sits within a land package of 24,000 hectares and is able to be worked all year.
The drill results intercepted 613.9 meters of “continuous consistent well-mineralized bulk tonnage mineralization” that graded 0.53 grams per ton of gold and 1.93 g/t of silver (or 0.55 g/t gold equivalent).
A higher zone intercepted about 18 meters grading 1.65 g/t gold and 1.83 g/t silver (1.67 g/t AuEq).
"We are very excited with the results from drill hole N23-091 which extends the known mineralization associated with the main felsic domain more than 150 meters along trend, and remains open,” said Jeremy Hanson, vice president of exploration.
“These results certainly support our understanding that the Newton project contains numerous zones that continue to expand the deposit, and that the Newton project may contain additional highly prospective underexplored felsic domains.”
A full breakdown of the results can be found here. Overall, the assays confirmed that the known mineralization extends “well below” the current inferred mineral resource depth limits, the company said, providing room for potential resource expansion.
The phase one drill program at Newton was important for confirming said opportunities. Given the results as well as historical data, Carlyle is moving ahead with plans for a phase two program that will test some of the potentially high-grade near-surface zones.
"After a complete review of Carlyle's first drill program at the Newton project, the company is thrilled to have confirmed such consistency and continuity of the main felsic volcanic domain to a depth below the known limits of the inferred mineral resource,” CEO Morgan Good said.
“Having drilled two deep drill holes and intercepting more than half a gram of gold in both gives us confidence in the Newton project's overall size potential.
"We have learned there are various higher-grade zones, some near the bottom of the known inferred mineral resource, which is rather interesting, but more notably some close to surface, which leads us to believe there may be a higher-grade zone of interest to target early in a phase two drill program this spring.”
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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