Ready Set Gold Corp (CSE:RDY) (FRA:0MZ) announced that it has completed the Phase 1 drilling program at its flagship 100%-owned Northshore Gold project in northern Ontario.
The company said the Phase 1 program, which consisted of 13 diamond drill holes for a total of about 2,900 metres (m) drilled, was designed to better understand the structural and geological controls of the mineralization of the historical Afric resource, with emphasis on high-grade gold.
“We are happy to say that we are gaining even more confidence in the geological model of the Afric Zone. This process will be integral in unlocking the value of the project,” Ready Set Gold CEO Christian Scovenna said in a statement.
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Scovenna added: “A strong understanding of the geology and structural controls on high-grade mineralization will help ensure continued drilling success and resource growth going forward.”
Ready Set Gold noted that the drill results will help assist with confirming its new interpretation model that includes the possibility that the resource could open up to unexplored strike and dip directions.
It added that to potentially expand the Afric Zone, a Phase 2 program utilizing the updated interpretation model and planning of new drill targets to better define the high-grade mineralization and structural depth is being planned.
The company said it plans to utilize the information from Phase 1 drilling in an eventual updated Afric Gold Deposit's resource calculation.
Ready Set Gold also reported that its newly-appointed Vice President of Exploration Brad Lazich and his team have been developing an updated geological model of Northshore's Afric Zone by logging the fresh Phase 1 drilling core and observing select historical intercepts in the core shack, in addition to the historic database.
It said the new geological concept focuses grade at Northshore into wide, pervasive, and linear structures indicative of a broad, camp-scale deformation zone.
The company added that it believes a continued better understanding of these structures not only helps with grade potential at Northshore but allows it to better understand how to grow the deposit on strike and at depth, which remains open in all directions.
Ready Set Gold said it expects to release the first round of drill assays in the next one to two weeks, as unanticipated delays have been experienced in receiving results from the laboratory due to extreme industry-wide demand.
Ready Set Gold owns a 100% interest in the Northshore Gold Property, in the Schreiber-Hemlo Greenstone Belt near Thunder Bay and is considered one of Ontario's largest undeveloped prospective gold projects.
Contact Sean at sean@proactiveinvestors.com