Gold Basin Resources Corporation (TSX-V:GXX) has unveiled additional promising reverse circulation drill assay results from its ongoing resource expansion and delineation drill program at the Gold Basin gold project in Arizona.
One drill hole at the Stealth Deposit returned a broad, near-surface, high-grade oxide gold intercept of 51.8 meters at 1.31 grams per ton (g/t) of gold from 82.3 meters, including 38 meters at 1.69 g/t gold from 94.5 meters.
The hole aimed to test for down-dip extensions of gold mineralization from an earlier drill hole, and the company said the intercept indicates mineralization continues and remains open at depth.
Additional drilling is warranted to further extend the mineralized envelop, the company believes.
To date, 14 drill holes totalling 2,470 meters have been drilled as part of the program. The results from two more holes are expected this week and eight holes are in the lab, with results expected in four weeks.
“The Stealth Deposit continues to deliver impressive near-surface oxide gold intercepts from step-out collar locations, with an average vertical depth of about 38 meters to the top of mineralization, and an average drill interval thickness of about 90 meters,” Gold Basin Resources CEO Colin Smith said.
“The rig has now moved to the Gap Zone, a 600-meter-wide trend which separates the Stealth and Red Cloud oxide gold deposits to drill eight final holes. The objective of these holes is to further establish mineralized continuity for potential resource estimation along the full 1.5-kilometer-long trend, which is supported by correlative gold intercepts in four Gap holes along strike from 2023.”