Gold Basin Resources Corporation (TSX-V:GXX) announced on Tuesday the completion of its Q2/Q3 resource expansion and delineation drilling program at its Gold Basin oxide gold project in northwestern Arizona.
The company reported promising results, including broad oxide gold intercepts from the Stealth Deposit, reinforcing the project's potential for further exploration.
The drilling program, which concluded last week, involved 22 reverse-circulation (RC) drill holes totaling 3,640 meters, with 14 holes drilled at the Stealth Deposit and eight at the Gap Zone.
Assays received so far include notable intercepts such as 89.9 meters at 0.49 g/t gold from a depth of 73.2 meters, including 13.7 meters at 1.36 g/t gold.
Another hole returned 29 meters at 0.58 g/t gold from 94.5 meters.
“The Q2/Q3 resource expansion and delineation drill program at Gold Basin concluded last week, and we continue to receive broad intervals of near-surface oxide from step-out collar locations at Stealth,” said Colin Smith, CEO of Gold Basin Resources.
Smith noted an average vertical depth of around 49 meters to the top of reportable mineralized zones, and an average drill interval thickness of nearly 91 meters.
The reported intercepts indicate that gold mineralization continues at depth, warranting further drilling to expand the mineralized envelopes.
Assay results for the next three holes are expected this week, with the remainder due in the coming weeks.