Gabbs Phase Two Drill Program Underway
The Gabbs Phase Two drill program has commenced with mobilization of a reverse circulation (“RC”) drill rig to site. The Phase Two drill program is planned to total approximately 4,000 meters of RC drilling in 20 holes. The majority of the drill program will focus on definition drilling at the
Gabbs Phase One Drill Program
The results from the final four RC drill holes of Phase One drilling at the Car Body (GBR-024 to 026) and
- Hole GBR-024 intersected 1.13 g/t gold over 28.96 meters, including 12.19 meters grading 2.35 g/t gold; and
- Hole GBR-026 intersected 1.09 g/t gold over 45.72 meters, including 15.24 meters grading 1.57 g/t gold and 12.19 meters grading 1.39 g/t gold.
Drill holes GBR-024 to 026 were designed to test the mineralization at the
Drill hole GBR-027 confirmed the continuity of the gold-copper mineralization to the northeast at the
Plan maps and sections for drill holes GBR-024 to 027 of the Gabbs Phase One drill program are available here.
Gabbs Mineral Resource Update and Other Project Activities
The Gabbs Project Mineral Resource is being updated and expected to be completed this quarter. The updated Mineral Resource will incorporate the results of the Gabbs Phase One drill program completed in 2021 and both Phase One and Phase Two metallurgical programs.
The Phase Two metallurgical program is underway and is expected to be completed this quarter. The program is expected to determine the preferred extraction process to be used as the basis for a preliminary economic assessment targeted for completion in late 2022.
In the field, a 25.7-line kilometer Natural Source Magneto Telluric (“NSMT”) survey has been completed over the project covering all four known zones of mineralization and the prospective locations of the potential gold-copper porphyry source at depth. Based on the results of the NSMT survey, a 22.5-line kilometer infill NSMT program has commenced over areas believed to potentially host the source gold-copper porphyry.
Gabbs Technical Report
The Company filed a National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) technical report entitled “Amended and Restated Mineral Resource Estimate of the Gabbs Gold-Copper Property,
The Gabbs Technical Report was prepared by
There are no material differences in the Mineral Resources in the Gabbs Technical Report and those contained in the Company’s
Table 1: Selected Gabbs Drill Results,
Hole | Collar Coords | Dip/ Azimuth | From (m) | To (m) | Interval (m) | Gold (g/t) | Copper (%) | AuEQ(3) (g/t) | CuEQ(3) (%) |
GBR-024 | N4291395/E416079 | -90/0 | 53.34 | 82.30 | 28.96 | 1.13 | - | - | - |
Incl | 53.34 | 65.53 | 12.19 | 2.35 | - | - | - | ||
GBR-025 | N4291382/E415970 | -90/0 | 0.00 | 19.81 | 19.81 | 0.78 | - | - | - |
Incl | 10.67 | 18.29 | 7.62 | 1.46 | - | - | - | ||
GBR-026 | N4291326/E415608 | -90/0 | 16.76 | 62.48 | 45.72 | 1.09 | - | - | - |
Incl | 22.86 | 38.10 | 15.24 | 1.57 | - | - | - | ||
incl | 50.29 | 62.48 | 12.19 | 1.39 | - | - | - | ||
GBR-027 | N4293940/E415598 | -65/0 | 140.21 | 199.64 | 59.43 | 0.41 | 0.34 | 0.81 | 0.66 |
incl | 140.21 | 169.16 | 28.95 | 0.56 | 0.43 | 1.06 | 0.87 |
(1) True thickness to be determined.
(2) All samples were submitted for preparation by ALS Global at its facilities in
(3) Gold Equivalent calculations were consistent with the Gabbs Mineral Resource, which used
Quality Assurance
Other News
P2 has filed a NI 43-101 technical report entitled “NI 43-101 Technical Report on the Silver Reef Property, Omineca Mining Division,
The Silver Reef Technical Report was prepared by
P2 also announces that it has launched a new corporate web site at www.p2gold.com.
About
For further information, please contact:
President & CEO (778) 731-1055 Suite 1100, V6C 2G8 info@p2gold.com (SEDAR filings: | Executive Vice President (778) 731-1060 |
Neither the
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