Gold Basin Resources CEO shares view of project as company Drills its Stealth Deposit
17.06.2024 | NewsDirect
Gold Basin Resources CEO Colin Smith joined Steve Darling from Proactive on-site at their Stealth Project to discuss the ongoing drilling program located in the Arizona desert. Smith shared insights into the current drilling operations, which are actively being carried out at the Stealth deposit. This deposit has yielded promising results from previous drilling programs, including significant intercepts of surface oxide gold.Current drilling efforts are focused on the northern side of the area, a region that has not been extensively drilled before. Historical data indicate substantial potential in this part of the deposit, prompting the decision to drill new holes aimed at expanding both the breadth and depth of the known gold mineralization, particularly towards the north-northwest. This strategic focus is based on the encouraging historical data that suggest untapped potential in these zones.
Smith delved into the technical aspects of the ongoing drilling, highlighting that two holes are being drilled at different angles to test down-dip and down-plunge extensions. These methods are designed to provide a more comprehensive understanding of the deposit's structure and to identify additional zones of gold mineralization. Smith expressed his enthusiasm about returning to the field, a setting he finds immensely fulfilling given his extensive experience in the mining industry.
The primary objective of this drilling program is to advance towards the maiden 43-101 resource estimate, which is expected to be completed in the third or fourth quarter of this year. Each meter drilled is crucial as it contributes to expanding the known oxide gold envelope, connecting different parts of the deposit, and enhancing the overall mineralization. This systematic approach aims to delineate a robust and economically viable gold resource that can support future development and mining operations.
Smith emphasized the significance of the current drilling program for both the Stealth Project and Gold Basin Resources as a whole. He highlighted that the successful execution of this program would not only enhance the company's asset base but also position it strategically for future growth and value creation. The initial results from the drilling are eagerly anticipated, as they will provide critical data to guide subsequent exploration and development activities.
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