Canadian Gold Corp. (TSXV: CGC), formerly known as Satori Resources, has unveiled encouraging results from the initial phase 2 drilling at the former Tartan mine. A key highlight is a drill hole that assayed 12.7 g/t gold over 3.2 meters within a 25-meter section averaging 2.7 g/t gold.
By conducting drilling operations to a depth of approximately 1,000 meters below the surface, the company successfully identified high-grade gold mineralization reaching at least 415 meters below the current resource estimate. This extension expands the vertical reach of the high-grade portion by an impressive 72%.
Ed Huebert, CEO and President of Canadian Gold, expressed satisfaction with the results, stating, “Our latest drill results continue to successfully show that the high-grade gold mineralization at the Main zone extends significantly deeper than the resource estimate and remains open for further expansion.”
Anticipated later this year, a new resource estimate will guide the company in commencing permitting and engineering activities. The Tartan mine, situated near Flin Flon, Manitoba, boasts favorable conditions with good road access, access to renewable electric power, and substantial underground and surface infrastructure.
Having operated from 1987 to 1989, producing 36,000 oz. of gold, the mine ceased production due to an extended period of low gold prices. The current indicated resource stands at 1.2 million tonnes grading 6.32 g/t gold, containing 240,000 oz. Notably, the indicated portion comprises 240,000 tonnes at 4.89 g/t gold (37,000 oz.), with a cut-off of 3.0 g/t gold.
Canadian Gold remains committed to ongoing drilling efforts aimed at expanding resources and potentially making new discoveries at the Main zone, South zone, and the volcanogenic massive sulphide (VMS) target situated 850 meters northeast of the mine.
