Step-out results extended mineralization along strike.
Hole 16CDDH06 returned 2.91 g/t AuEq over 25.8m, including 5.78 g/t AuEq over 9.9m.
The hole was drilled 100m along strike from historic hole CSG-002 to test the relatively undrilled North Vein’s footwall that bounds the primary resource
(Figure 1). Hole 16CDDH05, that was drilled 40m along strike from CSG-002, returned 1.01 g/t AuEq over 18.4m. The mineralization remains open along
strike and down-dip and in our view, today’s results demonstrate the expansion potential of the existing 1.2M oz AuEq (44Mt at 0.84 g/t AuEq) resource.
Process flow sheet optimization important to improve project economics.
Infill drilling twined historic holes to acquire fresh material
for additional metallurgical testing. The infill drilling results support the potential of the existing resource and were highlighted by 2.27 g/t AuEq
over 18.0m within a wider interval of 45.3m of 1.26 g/t AuEq (16CDDH09) and 0.87 g/t AuEq over a wide interval of 98.0m (16CDDH01). The PEA uses silver
recoveries of 34% which was based on preliminary testing. We expect recoveries are likely to improve and this should positively benefit project economics.
Derek Macpherson | VP Mining Analysis
Sunneva Bernhardsdottir | Associate, Mining Analysis
Victoria Ellis Hayes | Associate
Red Cloud Klondike Strike Inc.
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