Pamlico Summary Tabulation of All Drill Intercepts Phase II & Phase III RC Drilling - Merritt Area/Pamlico Ridge
(*to convert grams per metric tonne (g/t Au) to troy ounces per short ton (oz/t Au): multiply g/t Au by 0.029167)
|Phase II & Phase III Assay Table: Summary Drill Results - Holes P17-20 to P17-47|
|P17-20||56.4||64.0||7.6||1.71||215||85||80.8||Stockwork like zone|
|including||25.9||27.4||1.5||45.97||New “N-Zone” indicated|
|P17-22||10.7||13.7||3.0||1.51||120||85||76.2||Mineralized interval in upper
|P17-24||24.4||42.7||18.3||1.31||153||85||76.2||Expansion and definition of
|P17-25||13.7||50.3||36.6||3.69||150||80||76.2||Expansion and definition of
|P17-26||19.8||48.0||28.2||4.54||165||80||61.0||Expansion and definition of
|P17-27||12.2||21.3||9.1||2.11||210||85||342.9||Stratigraphic test hole to
|P17-28||53.3||62.5||9.1||2.12||215||85||76.2||New “N-Zone” indicated|
|P17-29||25.9||29.0||3.0||12.60||215||85||76.2||New “N-Zone” indicated|
|P17-30||10.7||12.2||1.5||11.56||195||85||365.8||Stratigraphic test hole to
|P17-31||0.0||2.3||2.3||12.51||192||85||76.2||New “K-Zone” indicated|
|P17-32||7.6||10.7||3.0||1.88||195||85||76.2||New “K-Zone” indicated|
|P17-33||0.0||53.4||53.4||2.36||196||85||76.1||Expansion and definition of
« K-Zone »
|P17-34||13.7||31.2||17.5||0.71||195||85||76.1||Expansion and definition of
« K-Zone »
|P17-35||24.4||42.7||18.3||2.51||195||85||76.1||Expansion and definition of
« J-Zone »
|P17-39||No significant mineralization||Step-out S-W of « J-Zone »|
|P17-40||No significant mineralization||Missed « M-Zone » target|
|P18-41||Hole lost at 350.6 meters||90||70||350.6||Also tested stratigraphy|
|P18-42||No significant Intervals; did not reach target depth||70||70||225.6||Also tested stratigraphy|
|P18-43||No significant Intervals; did not reach target depth||70||70||300.3||Also tested stratigraphy|
|P18-45||No significant Intervals ; did not reach target depth||243||85||192.1||Hole lost/Stuck rods|
|P18-46||No significant Intervals; did not reach target depth||60||70||182.9|
All results reported are length-weighted averages with no grade capping applied. Drill intercepts are for the actual drilled intercept length and may not represent true widths. Insufficient data currently exists to estimate true width. Note, From, To, and Length reported in meters, but converted from feet.
Phase II RC Drilling Program Highlights
- The exploration results to date strongly support the presence of a NW-oriented gold corridor comprising 6 newly discovered high-grade gold Zones: J,K,L,M,N and O with a width of approximately 65 meters (~220 ft) within a broader corridor that, as indicated by historic mining and recent mapping, may have a width of over 245 meters (~800 ft). Mapping along trend to the south east of the current drill area (Merritt Area) indicates that the same NW-oriented structures are still present for at least 365 meters (~1,200 ft) in historic workings and other exposures. Strike potential to the NW is covered and unknown at this time.
- Drilling continues to suggest that the bulk of the gold mineralization is in iron oxide dominated structures and stockwork veining.
- No visible gold has been observed in the Company’s drill logging and underground sampling, indicating a fine grained gold distribution. As well, all mineralized intervals are completely oxidized and within 75 meters (~250 ft) of the surface.
- Drilling in the J-Zone indicates the presence of additional mineralized structures, increasing the potential width of this high-grade area.
- Holes P17-25 and P17-26 better define and expand the J-Zone with intercepts of 3.69 g/t Au over 36.6 meters, including 64.88 g/t Au over 1.5 meters in hole P17-25 and 4.54 g/t Au over 28.2 meters, including 44.4 g/t Au over 1.5 meters in hole P17-26.
- Hole P17-32 delineates the new K-Zone with an intercept of 16.87 g/t Au over 4.6 meters. In addition, assay results for holes P17-21, 28 and 29 indicate the N-Zone is parallel to the adjacent M- Zone, with results of 12.60 g/t Au over 3.0 meters in P17-29 and 4.19 g/t Au over 21.3 meters in P17-21.
- Holes P17-33 and P17-34 offset high-grade drill holes P17-31 and P17-32. Drill hole P17-33 extends the K Zone to the northwest, while hole P17-34, drilled on the same line extends gold mineralization to the southeast. Holes P17-33 and P17-34 both intersected high-grade gold mineralization within broad “halos” of web- like, stockwork style mineralization, similar to that encountered in holes P17-18, 31 and 32.
- Hole P17-35 provides additional infill and extension of the J-Zone to the northwest with selective high-grade iron oxide style gold veining within a broader lower grade halo.
- Hole P17-36 appears to have been collared too close to the edge of the J-Zone and overshot the target, however a 9.2 meter intercept of 0.74 g/t Au suggests that additional favorable structure and stratigraphy are present in the footwall of this zone.
- Holes P17-37 and P17-38 were drilled roughly along trend from the K-Zone area, but encountered dramatically different host rocks and structure than expected. Although the targeted host rock sequence is much thinner in this immediate area due to faulting or stratigraphic variation, both holes produced significant intercepts. Significantly, these intercepts plus broader zones of lower grade mineralization, suggest the gold system is still present in this area as it continues to the northwest.
- Holes P17-27 and P17-30 were two deep (350 m) successful stratigraphic test holes that identified multiple new rock units favorable for hosting gold mineralization at Pamlico.
Phase III RC Drilling Program Highlights
- Phase III drill results indicate an expanded strike length of 1,600 feet (488 m) that includes the Merritt Decline Area and newly identified mineralization at Pamlico Ridge - in excess of 4 times the previously known strike length.
- Phase III results also expanded the apparent width of the mineralized corridor from 220 feet (67 meters) to 420 ft (128 m).
- Prospective depths have been increased to about 530 ft (161 m), a 260% increase over the vertical extent of mineralization indicated by 2017 drilling.
- The best gold values were seen in hole P18-47 which intersected 39.6 meters of 1.48 g/t Au and in hole P18-44 which intersected 86.9 meters of 0.58 g/t Au, including 25.9 meters of 1.02 g/t Au.
- Drilling confirmed consistent and deep levels of oxidation ranging from 600 to more than 900 feet (200 to 300 meters) below surface. All gold intercepts to date are in thoroughly oxidized host rock, commonly a favorable characteristic for modern metallurgical recovery processes.
- Drilling has also discovered a deeper favorable host rock package.