Spanish Mountain Gold Ltd (TSX-V:SPA, OTC:SPAZF) has released the final results from its 2024 diamond drill program at the Spanish Mountain Gold project in British Columbia, Canada, which suggest the potential for resource expansion.
Broad mineralization and continuous high-grade intervals may lead to increased open-pit potential and deeper resource expansion, the company said.
One of the key results includes a 96.5-meter interval grading 0.9 grams per tonne (g/t) gold, with a continuous high-grade section of 29 meters grading 2.6 g/t gold.
This section included intervals of 6 meters at 3.4 g/t gold and 9 meters at 3.2 g/t gold. Additionally, the same hole intersected 45 meters at 0.4 g/t gold, with a 6.5-meter section at 1.3 g/t gold.
Other results from the program include intersections of 172.7 meters at 0.4 g/t gold, including 4 meters at 1.1 g/t gold and 6 meters at 2.1 g/t gold, and 50 meters at 0.6 g/t gold, with 11.5 meters at 1.1 g/t gold.
Another hole intersected 50 meters at 0.2 g/t gold, including 10.3 meters at 0.5 g/t gold, and another 56.5 meters at 0.3 g/t gold, with higher-grade sections of 8 meters at 1 g/t gold and 1.5 meters at 5 g/t gold.
Peter Mah, Spanish Gold CEO welcomed the “exciting” results from the 2024 exploration program.
“Our exploration team intersected new, broad gold mineralization and high-grade beyond the 2021 resource in the lower argillite host rocks. The lower argillite unit remains open at depth and along strike warranting follow-up drilling,” he said.
"In 2025, we are looking forward to starting a winter exploration diamond drill program following up on targets that could enhance project scale, value and mineral endowment.”