In drilling a significant new discovery at the Harry Property, Blackwolf Copper and Gold (BWCG.v intersected 312 g/t gold and 101 g/t silver over 1.0m from 139m to 140m as well as 277 g/t gold and 118 g/t silver over 1.0m over 199m to 200m!
These initial assay results from the Swann Zone at the Harry Property confirmed a significant gold discovery and one of the most exceptional intercepts in the Golden Triangle in recent times.
The high-grade gold occurs within coarse gold veins and is a Newcrest/Newmont BruceJack style gold system with ultra-high-grade quartz-gold veins.
The first assays occurring within a wide zone of multiple overlapping phases of sulphide mineralization and quarts veins can host significant gold, silver and/or base metal-rich mineralization based on previous sampling.
BWCG CEO, Morgan Lekstrom, commented:
"The Swann Zone, like BruceJack, bears the imprint of the McLeod family's exploration and area knowledge. We are not only thrilled by the exceptional high-grade nature of this discovery, but also the tremendous value it holds for our shareholders. Notably, BruceJack was acquired for USD$2.7 billion by Newcrest and stands as one of the most prominent high-grade underground mines in North America. I firmly believe that we have the potential to develop another similar system."
This news follows BWCG's recent closure of a $3M oversubscribed and upsized private placement with the lead order coming from Billionaire Mining Investor Frank Guistra for 13.02% of all outstanding and common shares from 11.78% to 13.02% following the closure of an oversubscribed upsized private placement which was closed for gross proceeds of $3,263,532.
With additional assays pending from this first hole and the 6 remaining holes in the program still pending alongside assays from the Cantoo Property, BWCG is emerging as a high-potential and early-stage gold and precious metals play.
Posted on behalf of Blackwolf Copper and Gold Ltd.