Gold 50 Limited announced drilling contractor Alaska Midnight Sun Drilling has arrived at the Spitfire Gold-Silver Project in Nevada (Spitfire) over the weekend and drilling has commenced. Gold 50's strategic intent is to rapidly define and progress exploration targets across its portfolio of precious metals assets, leveraging management's track record of discovery in the Southwest USA. Drilling at Spitfire is the second program of a broader 3-project campaign. Drilling at the Top Gun Gold-Silver Project in Nevada was completed in late December 2021 (assays pending). On completion of the current campaign, drilling will commence at the flagship Golconda project in Arizona, anticipated towards the end of first quarter 2022. Drilling has commenced at Spitfire with a 5,000 metre RC drilling programme planned to test high priority targets identified by recent rock chip sampling and surface mapping. Samples were collected at targets identified following an extensive review of TSX-listed Kinross Gold Corporation's historical exploration database. As previously announced on 25th August 2021, thirty-eight of these samples contained more than 1g/t gold and averaged 23.2g/t gold and 38.3g/t silver. Twenty-one rock chip samples collected by
Gold 50 contained more than 10g/t gold and averaged 35g/t gold and 75g/t silver; best sample returned 88.9 g/t gold. Drilling at Spitfire is designed to test multi-prospect targets across the project including: Hearst: a 40m wide zone multigram gold on surface, alteration and quartz /gossan /copper oxide veining. Lithia: multi gram to multi ounce bearing flat quartz veins near the main historic Lithia workings including northern and eastern strike continuation of these veins. Ledge: set of sheeted low angle quartz veins with multigram gold hosted by altered diorite/granodiorite.