The Homestake target is located within the
Hole HS-19-007 was drilled in the area of historic mining and is believed to have intersected one of the productive mineralized shoots within the Homestake system. In addition to the high-grade results from hole HS-19-007, hole HS-19-012 intersected three stacked vein systems returning values of 4.23 g/t Au and 2.5 g/t Ag over 3 metres in the upper vein and 1.12 g/t Au and 4.0 g/t Ag over 3 metres in the middle vein and 1.31 g/t Au and 8.5 g/t Ag in the lower vein. The mineralized interval across the three veins totaled 38.1 metres @ 0.63 g/t Au and 2.6 g/t Ag. Hole HS-19-012 is located 380 metres south of HS-19-007.
In total, GRC drilled 1,856 meters in 14 holes covering 600 metres of strike length at Homestake. Other holes returned spotty, lower-grade intercepts or failed to intersect significant mineralization. A complete summary of the mineralized intercepts is listed below.
Exploration Plan for 2020
The Company's vision is to identify a multimillion-ounce gold resource at its Gold Springs project. Aligned with the Company's vision, the Company's plan for 2020 is to continue to add to the existing gold resources at Gold Springs. The Company will start the plan in Q1 2020 with a ground geophysical survey (CSAMT) intended to fill gaps in the existing CSAMT survey of Gold Springs, followed by detailed structural mapping of certain target-areas, to prepare these areas for future drilling. In Q2, 2020, the Company plans to start its 2020 drill program. The drill program currently contemplates approximately 8,700 meters of drilling, by stepping out and testing the extensions of the existing South Jumbo and North Jumbo resources, with the view of adding more gold and silver ounces to these resources which are open in multiple directions. The plan includes environmental and archeological baseline studies, to ready drill targets that are next in the pipeline for future drilling, and to advance work required for an Environmental Impact Statement. The plan also includes metallurgical test work, and GRC will conclude 2020 with the publishing of a new resource estimate that would include the results of the 2017, 2019 and 2020 drill programs. The total cost of the current exploration plan for 2020 is estimated to be
About
Quality Assurance and Quality Control
Approximately 7 kg of RC chips were sent to the laboratory for each 1.52 metre drill interval. Fifteen percent of the samples submitted by the Company are blanks and standards for QA/QC purposes. In addition, the laboratory also includes duplicates of samples, standards and blanks. The results of these check assays are reviewed prior to the release of data. All RC sample assays are also reviewed for their geological context and checked against the drill logs.
Assay Method
TMI Assays were performed in
Forward Looking Statements
Certain statements contained herein constitute 'forward-looking information' under applicable Canadian securities laws ('forward-looking statements'). Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as 'creating', 'view of', 'intended', 'plan', 'believe', 'vision', 'would', 'continue', 'will', 'estimate', 'promising', and similar expressions. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, risks of the mineral exploration industry which may affect the advancement of the Gold Springs project, including possible variations in mineral resources, grade, recovery rates, metal prices, capital and operating costs, and the application of taxes; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated, changes in project parameters, including water requirements for operations, as plans continue to be refined; regulatory, environmental and other risks of the mining industry more fully described in the Company's Annual Information Form and continuous disclosure documents, which are available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the continuing support for mining by local governments in
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Email: info@goldspringsresource.com
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