Ready Set Gold Corp (CSE:RDY) has released the first assays from its maiden drill program at its wholly-owned Northshore gold project in Ontario, which, the company said, shows the potential for the property to host a large gold system.
The results hail from the first six diamond holes of a 13 hole, 2,900 metre (m) program, and all holes hit "significant" gold mineralization and increased exploration potential along strike and at depth.
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"We are very pleased with the initial results of the Phase 1 drill program," said Christian Scovenna, the chief executive of Ready Set Gold in a statement.
"Most importantly, the development of a new geological model for Northshore and the successful testing of the model with this program opens the mineralized zones in many directions, which we believe opens the potential for increasing the size of the zones along strike and at depth."
Notably, one hole at the B Zone structure hit gold in three separate zones.
Highlight assays included 94.25m at 1 grams per ton (g/t) gold, 20.45m at 1.26 g/t and 20m at a grade of 0.99 g/t of the yellow metal.
Within these intercepts were high-grade gold zones, including 2.90m at 8.36 g/t gold and 1.65m at 9.17 g/t of the precious metal.
Northshore lies in the Schreiber-Hemlo Greenstone Belt near Thunder Bay and is considered one of Ontario's largest undeveloped prospective gold projects.
It remains underexplored with around only 5% of the area systematically evaluated. Additionally, the depth potential of the gold mineralized zones remains untested with the deepest drill intercepts at 250m.
Results from the remaining seven holes will be released when available, the company added, expected to be within the next three to four weeks.
Contact the author at giles@proactiveinvestors.com