Gold Basin Resources Corporation (TSX-V:GXX) announced assay results from the first two reverse-circulation (RC) drill holes at its 100%-owned Gold Basin oxide gold project in northwestern Arizona.
Initial data from the ongoing resource expansion and delineation drill campaign at the project’s Stealth Deposit are seen to be promising.
“Assay results from resource expansion drilling at Stealth are on par with some of the best oxide gold results to date at the project and showcase the robust nature of the Stealth oxide gold system,” chief executive Colin Smith said in a statement.
“In particular, the result from drill hole ST24-026 is highly encouraging, as it confirms the extension of a high-grade oxide gold plunge at depth, which remains open, and is to be further tested in this drill program.”
In more detail, hole ST24-026 intercepted 138.7 meters at 0.93 g/t Au from 30.5 meters, including a higher-grade segment of 6.1 meters at 4.83 g/t Au from 36.6 meters and 74.7 meters at 1.16 g/t Au from 94.5 meters.
Similarly, hole ST24-027 returned 82.3 meters at 0.94 g/t Au from 36.6 meters, with an included interval of 41.2 meters at 1.07 g/t Au from 38.1 meters.
Multiple occurrences of visible gold were identified in the RC chip trays, further underscoring the potential of the Stealth Deposit.
To date, five holes totaling 1,027 meters have been completed as part of a planned 3,000-meter program.
Further results from this drill campaign are anticipated within the next three weeks.