Shares of Victoria Gold Corp. (TSX: V.VIT, Stock Forum) climbed 19.7% to 45.5 cents Monday, after the company reported results from diamond drill hole NW-15 from the Helen Zone at the Cove Project in north-central Nevada.
Victoria notes that NW-15 intersected a wide gold-mineralized interval of 274.3 m that returned 2.50 grams per tonne gold containing two separate zones at both the top and base of this interval.
The purpose of drill hole NW-15, says the company, was to further test the Helen Zone below where previous drilling defined a plunge length of over 150 metres.
"NW-15 returned very high gold grades over meaningful widths within a much larger, anomalous gold zone", said Chad Williams, president, CEO, and director of Victoria Gold. "This is especially encouraging since NW-15 intersected gold mineralization a substantial distance away from what is believed to be the core of the Helen Zone system - we have once again succeeded in demonstrating that the Helen Zone can return high grades of gold over a wide area," he added.
Victoria says that the proposed Phase II exploration and drilling program at the Helen Zone is anticipated to include underground drilling, and that it is progressing on the design of the contemplated tunnel from surface into the Helen Zone.
On the company’s Bullboard Monday, Scoop61 said: “Wow and in Nevada too!!! Picked some up at 41 cents this looks huge...[sic]”
