Gold Basin Resources Corporation (TSX-V:GXX) said its latest drill program at the Gold Basin oxide gold project has revealed high-grade gold intercepts.
The company announced additional assay results from the recently completed reverse-circulation drilling program at the project, highlighted by 50.2 meters grading 1.29 g/t gold from a depth of 85.4 meters, with a higher-grade section of 27.4 meters at 2.08 g/t gold.
Another hole reported 33.5 meters at 1 g/t gold from 96 meters depth, including 12.2 meters at 2.08 g/t gold.
These results extend the high-grade mineralization along strike, Gold Basin told shareholders.
The intercepts are shallow, with an average depth of 51 meters to the top of the mineralized zones and an average thickness of 77 meters.
The Q2/Q3 2024 drilling program included 22 holes totaling 3,640 meters. Full results for the remaining 13 holes are expected within the next four to six weeks.
“Drilling results from step-out collar locations along the formerly undrilled northerly road at Stealth continue to yield impressive intervals of near-surface oxide gold,” said Colin Smith, Gold Basin’s CEO.
“Upon receipt of final assays, the maiden NI 43-101 oxide gold mineral resource estimate will commence immediately.”