Gold Basin Targets (Red Cloud, Gap Zone and PLM)

Oxide gold mineralization has been identified across the entire landholding, with multiple high-priority targets requiring follow up drilling.

Multiple at- or near-surface oxide gold intercepts at the Red Cloud target over 40m in thickness with grades exceeding 1 g/t Au.

Highlights from Q1|23 drilling include:

Red Cloud deposit

  • 57.9m @ 1.82 g/t Au from 4.6m in hole CM23-022
        incl. 15.2m @ 4.12 g/t Au from 10.7m
  • 42.7 m @ 2.44 g/t Au from surface in hole CM23-029
        incl. 18.3m @ 5.53 g/t Au from 6.1m @ 11.72 g/t Au from 2.13m
  • 53.3m @ 1.37 g/t Au from surface in hole CM23-018
        incl. 22.9m @ 2.44 g/t Au from 9.1m
  • 50.3m @ 1.35 g/t Au from surface in hole CM23-025
        incl. 19.8m @ 2.55 g/t Au from 16.8m
  • 47.2m @ 1.07 g/t Au from surface in hole CM23-015
        incl. 18.2 @ 1.41 g/t Au from 29.0m

A recently completed 2,224-metre follow up drill program intercepted at or near surface oxide gold mineralization:

Highlights include:

  • 69.08 m @ 1.03 g/t Au from 6.10 m in hole CM23-022A
        incl. 48.77 m @ 1.31 g/t Au from 10.67 m 
  • 64.01 m @ 0.56 g/t Au from 0.00 m CM23-046
        incl. 30.48 m @ 1.00 g/t Au from 0.00 m;


GAP Zone

A total of 2,224 metres were drilled in 18 RC holes in the follow-up program, with a focus on testing the Gap Zone between Red Cloud and Stealth.

Drillhole CM23-057, located in the central portion of the Gap Zone between Stealth and Red Cloud, returned a shallow oxide gold intercept comparable in thickness, grade and gram*metre to that of the neighbouring deposits, suggesting the presence of a 1.5-km-long gold system, spanning the Stealth-Red Cloud trend. 


PLM deposit

  • 24.4m @ 2.22 g/t Au from surface in hole CM23-002
        INCL. 7.6M @ 4.33 g/t Au from 16.8m
  • 4.6m @ 1.12 g/t Au from surface in hole CM23-004

Significant Historic Intercepts

  • 16.8m @ 6.45 g/t Au from 3.05m in RMBG90-01
  • 18.3m @ 2.53 g/t Au from surface in GBR-07

PLM remains open to the south, and locally at depth.