MegumaGold Corp is awaiting assay results after completing its first drilling program on the Caribou gold project in Nova Scotia.
Four holes, for 620 metres (m), were completed by Maritime Drilling on August 10 this year.
Around half of the drilling, in two NQ-sized diamond drillholes, twinned important historical drillholes, while the other half was step-out and in-fill drillholes, said MegumaGold.
READ: MegumaGold kicks off drilling at the Caribou gold project in Nova Scotia
"Now that we have completed our first drilling program on Caribou Gold Project, I am excited to receiving the assay results, which I believe will confirm that the company was on the right track when it acquired this asset. I look forward to the next steps in advancing this great project," said Theo van der Linde, the president of the company.
Caribou comprises 16 contiguous mining claims (256 hectares) and lies 80 kilometres (km) northeast of Halifax, Nova Scotia and is around 12km on existing roads from St Barbara Minerals Moose River Consolidated operating mill.
Nova Scotia government records for the Caribou district indicate that the area produced slightly over 100,000 ounces of gold between 1869 and 1955.
MegumaGold has assembled a strategically positioned, district-scale tenure position of 151,633 hectares within the Meguma Gold District in Nova Scotia.
Contact the author at giles@proactiveinvestors.com