- Gold 50 (G50) to begin drilling at the Top Gun Gold-Silver Project in Nevada imminently
- Drilling at Top Gun forms part of a three project drilling program with work also being undertaken at the Spitfire and Golconda projects
- Around 2000 metres of reverse circulation drilling will be undertaken at Top Gun with a focus on testing a 1150-metre long zone of quartz veining and gold mineralisation
- Once this wraps up, focus will shift to Spitfire where 3500 meters of drilling has been planned to test high prioirty targets identified by rock chip sampling and mapping
- Gold 50 ends the day in the grey with shares trading at 25 cents
Gold 50 (G50) is set to begin drilling at the Top Gun Gold-Silver Project in Nevada imminently.
Drilling at Top Gun forms part of a three project drilling program with work also being undertaken at the Spitfire and Golconda projects.
Gold 50 has executed a drilling contract with Midnight Sun Drilling who will undertake 2000 metres of reverse circulation (RC) drilling.
This drilling will test an 1150-metre long zone of quartz veining, gold mineralisation and silicification.
While Top Gun has been minor historical mining, there is no evidence of any modern exploration or drilling being carried out.
Once drilling wraps up at Top Gun, the rig will move to the Spitfire Gold-SIlver Project with 3500 metres planned to test high priority targets identified by rock chip sampling and surface mapping.
This sampling averaged 23.2 grams of gold per tonne (g/t) and 38.3g/t silver with 38 containing more than 1g/t gold.
Additionally, 21 samples contained more than 10g/t gold with a peak of 88.9g/t gold.
Managing Director Mark Wallace commented on the drilling program.
“We are excited to announce the imminent commencement of our maiden drilling program at our Nevada projects,” Mr Wallace said.
“The Top Gun program will be the start of a continuous campaign of drill testing our high priority targets across our portfolio of quality gold and silver projects in Nevada and our flagship Golconda project in Arizona.
“Gold 50 is well-financed to complete planned exploration activities over the next two years following our IPO in August 2021, and we look forward to keeping shareholders abreast of our progress.”
Gold 50 has ended the day in the grey with shares trading at 25 cents in a $23.87 million market cap.