Ready Set Gold Corp (CSE:RDY) (OTCPINK:RDYFF) (FRA:0MZ) revealed the final set of drill results from the Phase 1 program at its flagship Northshore gold project showing all seven holes intersected gold mineralization.
Highlights from the results include one hole that intersected 80 metres (m) at 1.1 grams per ton (g/t) gold, including 11.2m at 3.5 g/t that hosted a higher-grade interval of 5m at 7.3 g/t gold.
Two other holes intersected 86.5m of 0.9 g/t gold, including 10.5m at 3 g/t, and 2m at 27.3 g/t gold.
READ: Ready Set Gold hits robust gold mineralization over significant widths with first holes of maiden program at Northshore project
Toronto-based Ready Set Gold said that the results help to confirm its geological model for Northshore, redefining the overall geometry and orientation of the gold zones and increasing the exploration potential along strike and at depth.
Exploration plan map of Northshore with reported results
All 13 holes drilled as part of the Phase 1 program intersected gold mineralization in areas with very little historic drilling, the company told investors.
Only around 5% of the Northshore property has been systematically evaluated, according to a statement.
Ready Set Gold told shareholders that it believes the property shows “excellent potential at depth,” including the possibility of high-grade gold zones.
"The intersecting of broad intervals of gold mineralization hosting higher-grade structures is showing us that our understanding of Northshore and our new geological model is certainly progressing in the right direction,” CEO Christian Scovenna said in a statement.
“What is also greatly exciting for Ready Set Gold and our shareholders, is that our modelling indicates that the mineralization may be open along strike and at depth. By considering a different model of mineralization than previous operators of the project, we have potentially unlocked the door to a regionally significant deposit.”
Brad Lazich, Ready Set Gold’s vice president of exploration, added that the information gleaned from the Phase 1 program will help the company plan a systemic surface exploration program ahead of Phase 2 drilling.
"These drill results, in addition to those previously reported, continue to increase our confidence in the results of the historical drilling and our new geological model,” Lazich said.
The Northshore property is located in the Schreiber-Hemlo Greenstone Belt near Thunder Bay, Ontario, which is prospective for gold and silver mineralization.
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