URBANGOLD RESUMES DRILLING AT PALLADOR-REGNAULT, PROVIDES UPDATE FOR BULLSEYE-CRESSIDA
Drilling has resumed on the Regnault block, at Urbangold Minerals Inc.'s 100-per-cent-owned Pallador property that totals 26,585 hectares. Urbangold drilled four holes totalling 1,095 metres before the holidays and resumed drilling this past Monday on priority targets located immediately south and on strike of the Kenorland Minerals Regnault discovery located farther north, which includes an intersection of 8.47 grams per tonne gold over 29 metres (see Kenorland's July 29, 2020, news release). The 2,500-metre initial drill program is expected to be completed within the next two weeks (see Urbangold's Nov. 16, 2020, news release for additional details).
Urbangold has also received the interpretation of the induced polarization (IP) survey completed on the Cressida block, which forms part of its 8,558-hectare Bullseye joint venture property and where previous drilling has identified a wide gold-bearing zone extending at least 400 metres in length and located 14 km southwest of the former producing Troilus gold-copper mine. The surface geophysics consisting of a 27.2-kilometre induced polarization survey and a smaller 3-D IP survey have identified several high-priority targets, including a strong chargeability anomaly coinciding with the known gold zone and extending 500 metres to the northeast. Other untested chargeability targets are also present.