Ottawa, Ontario--(Newsfile Corp. - February 28, 2023) - Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) ("Gold79" or the "Company") is excited to announce the completion of its Phase 2 drilling campaign and the analytical results from its Gold Chain project in Mojave County, Arizona. The program consisted of 12 reverse circulation (RC) drill holes totaling 956 metres (m) testing the Tyro, Sheep Trail and Boulevard mine targets with about 50 percent of the drilling focused on the Tyro vein system.
Highlights from the drilling include:
- GC23-23: 44.2m of 2.01 g/t Au - drilled approximately 50m south of the underground mine workings at Tyro and returned similar grades and mineralization to the underground sampling previously completed (Figure 1, 2, and 3).
- GC23-24: 27.4m of 2.17 g/t Au - drilled approximately 150m south of the underground mine workings at Tyro and returned similar grades and mineralization to the underground sampling previously completed (Figure 1, 2, and 4).
- GC23-28: 85.3m of 6.23 g/t Au - tested the northwest-southeast trending White Spar fault that intersects the Tyro vein system at approximately 45 degrees. The hole included two lower grade zones (61.0m of 0.58 g/t Au and 15.2m at 0.74 g/t Au) with a new high-grade zone in-between of 9.1m at 51.09 g/t Au.
Analytical results for Phase 2 drilling are presented below in Table 1 and 2.
Derek Macpherson, President & CEO, stated, "We are very pleased with the drill results from Tyro which confirm a strike length of nearly one kilometre for Tyro and have discovered a new high-grade zone at this target. Considering that Gold79 has only drilled 28 holes for 2,024m at Gold Chain we are very pleased with the progress to date. Our next step is to further evaluate the Tyro Vein system as we believe the strike could exceed two kilometres. Additionally, we plan some follow-up surface work at Sheep Trail to better understand these results."
Gold79 Discovers New High-Grade Zone at Tyro, Intersecting 9.1m of 51.09 g/t Au Within a Broad Zone of Gold Mineralization at Its Gold Chain Project in Arizona (newsfilecorp.com)