- Signal Gold (TSX:SGNL) has intersected high-grade gold at its Goldboro Project from its geotechnical drill program
- The drill program included 1,357 metres in seven HQ-diameter diamond drill holes to support the design of potential open pits from the Goldboro Feasability Study
- Results include 23.85 grams per ton (g/t) gold over six metres
- Shares of Signal Gold are down 2.63 per cent to C$0.19 as of 9:41 am ET
Signal Gold (TSX:SGNL) has intersected high-grade gold at its Goldboro Project in Nova Scotia after a geotechnical drill program.
In a news release, the company stated the drill program included 1,357 metres in seven HQ-diameter diamond drill holes to support the design of potential open pits from the Goldboro Feasability Study.
Highlights from the drill program include 23.85 grams per ton (g/t) gold over six metres. Additionally, results also indicate eight occurrences of visible gold and 32 separate intersections of gold mineralization and indicate that the mineralization remains open at depth and open to the west towards the past-producing Dolliver Mountain Gold Mine.
We are pleased to continue to intersect high-grade gold mineralization within the area of the planned open pits from the feasibility study. These drill holes, completed for geotechnical studies for pit slope and stability analysis, are also critical in demonstrating the continuity of mineralized zones within and near the planned open pits,” Kevin Bullock, CEO of Signal Gold, said in a statement. “This information will further inform continuing refinement and upgrades to the Goldboro Mineral Resource estimate and assist in the definition of open pit design, all initiatives which further de-risk the Goldboro Project.”
Signal Gold is focused on advancing the Goldboro Project in Nova Scotia. According to a feasibility study, the project has an 11-year open pit life of mine with an average gold production of 100,000 ounces per year and an average diluted grade of 2.26 g/t gold.
Shares of Signal Gold are down 2.63 per cent to C$0.19 as of 9:41 am ET.
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