Drill results from Spanish Mountain cut more good grades in pit area
BRITISH COLUMBIA – The assay results are in from Spanish Mountain Gold’s drilling program for the gold project of the same name 70 km northeast of Williams Lake. The selective program targeted the high grade, near surface First zone, and the results did not disappoint.
Spanish Mountain says all six drill holes are indicative of additional higher grade mineralization at depths of less than 100 metres. The holes were drilled in an area of the proposed pit that would be mined during the early years of the project, according to the 2017 preliminary economic assessment.
The first set of drill results include:
Hole 18SMRD-1221: 1.76 g/t gold over 27.4 metres, including 3.62 g/t over 12.2 metres;
Hole 18SMRC-1224: 1.22 g/t over 13.7 metres and 1.86 g/t over 12.2 metres;
Hole 18SMRC-1225: 1.03 g/t gold over 16.8 metres, including 2.28 g/t over 4.6 metres; and
Hole18SMRC-1226: 0.63 g/t gold over 41.2 metres, including 1.32 g/t over 7 metres.
The 2017 PEA focused on a mining rate of 20,000 t/d, half of what an assessment used five years earlier. The smaller rate would save $257 million on initial capital requirements.
This story first appeared on Canadian Mining Journal