Gold Basin Resources Initiates Q2 Drill Program to Expand and Delineate Resources at Gold Basin
30.05.2024 | NewsDirect
Gold Basin Resources CEO Colin Smith joined Steve Darling from Proactive to announce that the company has secured a driller and is preparing to commence rig mobilization. The drilling is set to begin in June as part of the company's fully-funded Q2 reverse circulation drill program. This program will focus on resource expansion and delineation at the Stealth Deposit and the Gap Zone at located in northwestern Arizona.Smith elaborated that the company's exploration efforts will target the Gap Zone, which remains sparsely drilled and open in all directions. The Gap Zone is situated between the high-grade Stealth and Red Cloud oxide gold deposits. The northwest-trending Stealth Fault, which hosts the Stealth Deposit, Gap Zone, and Red Cloud Deposit, extends 500 to 900 meters southwest of and parallel to the Cyclopic Deposit. This fault has been mapped for over 8 kilometers to the northwest and 3 kilometers to the southeast, indicating significant potential for resource growth.
The drilling program aims to better define the mineralization within the Gap Zone and to explore the continuity and extent of the gold-bearing structures. The Stealth Fault's geological characteristics suggest it is a major control on gold mineralization in the area, making it a prime target for further exploration.
Gold Basin Resources is also working towards the Project's maiden NI 43-101 oxide gold resource estimate, which is expected to be released later this year. This resource estimate will be a significant milestone for the company, providing a clearer picture of the project's potential and laying the groundwork for future development plans.
Smith emphasized the importance of the upcoming drill program, stating that it represents a critical step in advancing the project. The results from this drilling will not only help to expand the known resources but also improve the understanding of the geological framework, aiding in more precise targeting for future exploration.
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