MegumaGold Corp said a minimum 600 metres (m), multi-hole drill program has begun at the Caribou gold project in Nova Scotia.
About two-thirds of the program will twin some notable historic drill holes, with the aim to confirm gold assays, structure and style, while the remaining 200m will step out from these drill holes, with the intent to add strike length and grade to the existing zones.
“We are excited to finally be able to drill on Caribou and be able to see first-hand what made this property a mine in the past,” MegumaGold President Theo van der Linde said in a statement.
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“We will continue to build on the information that we have and what we will get from this program, which I’m sure will help advance Caribou as an important asset of the company,” van der Linde added.
The Caribou gold project consists of 16 contiguous mining claims (256 hectares) located 80 kilometres northeast of Halifax.
MegumaGold noted the Caribou Gold District, which includes the past-operating Holman Mine, produced a little more than 100,000 ounces of gold between 1869 and 1955 at an average grade of about 14 grams per tonne.
The company added that subsequent exploration by Seabright Exploration Inc in the 1980s identified additional parallel, gold-bearing stockwork zones that to date have not been fully delineated by drilling.
MegumaGold has assembled a strategically positioned, district-scale ground position of 151,633 hectares within the Meguma gold district of Nova Scotia.
Contact Sean at sean@proactiveinvestors.com