Carlyle Commodities Corp (CSE:CCC, OTCQB:CCCFF) has released encouraging results from the recent diamond drill program conducted at its Newton gold and silver project.
The drill program, spanning 840 meters and covering seven drill holes, aimed to test multiple high-priority targets with the goal of augmenting both tonnage and ounces of gold and silver in the existing resource.
Carlyle said it had confirmed the existence of a new, near-surface, higher-grade gold and silver-bearing zone situated to the north of the current inferred mineral resource.
The new zone included a 24-meter stretch containing 0.83 grams of gold per ton of rock. Surprisingly, this discovery remained unexplored until the latest phase of work.
Carlyle then drilled three additional shallow boreholes, each positioned approximately 50 meters apart, aiming to extend the exploration for potential mineralization. One hole intersected a 39-meter zone with a gold content of 0.75 grams per ton of rock, commencing at a depth of 14.9 meters.
The Halo area, as it is now known, remains open in multiple directions.
Additionally, gold and silver mineralization was discovered in a farther area northwest, in the now designated Sunrise area. All drill holes encountered gold and silver mineralization, noted Carlyle.
Highlights from Sunrise included a short 54-meter exploration hole drilled more than 700 meters northwest of the current inferred mineral resource that returned 0.15 g/t gold from 9 to 54 meters.
Morgan Good, Carlyle’s CEO, called the Phase 2 drill program “smooth and productive,” adding: “Carlyle learned many new technical factors including adding two key zones to the property.”
Good told investors that the company is optimistic that Halo “could be one of the keys we are seeking and definitely warrants follow-up work as soon as possible."
Carlyle plans to continue drilling in all open directions of the newly confirmed areas to further define their ultimate size, grade, and potential.