Gold Basin Resources Corporation (TSX-V:GXX) has announced final results from the 2,224-metre (m) follow-up reverse-circulation (RC) drill program at its 100%-owned Gold Basin oxide gold project in Arizona, which included 50.3m of 0.41 grams per tonne (g/t) gold from 27.4m depth.
The gold project developer said it intersected multiple broad gold zones in the Gap Zone up to 70m wide downhole, covering a strike length of about 250m.
"Final results from drilling in the Gap Zone between the Stealth and Red Cloud Deposits are highly encouraging, with the majority of holes intercepting broad intervals of near-surface oxide gold, providing further evidence of a contiguous 1.5-km-long oxide gold system throughout the Stealth-Red Cloud trend," Gold Basin Resources CEO Colin Smith said in a statement.
"We look forward to the next round of drilling to further delineate and expand the envelope of mineralization, which remains open in all directions," he added.
Gold Basin noted the follow-up drill program targeted primarily the Gap Zone between the Stealth and Red Cloud oxide gold deposits, which had been historically tested by a small number of widely spaced drill holes.
It added that exploration holes drilled by the company in the program intersected near-surface gold in four of six holes drilled along the main Gap Zone trend over a strike length of about 250m, demonstrating continuity of mineralization between the Red Cloud and Stealth deposits.
As well, Gold Basin stated that additional holes are under preparation in the Gap Zone to determine deposit geometry.
Gold Basin Resources is advancing the 42 square kilometre Gold Basin project, located in the tier-one mining jurisdiction of Mohave County, Arizona. The project hosts multiple at-surface oxide gold deposits which remain largely open for expansion, and district-scale exploration potential which has been vastly underexplored by modern technologies.
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