The Drill Down: Best Gold Assays (Mar. 22-29)

*This article was originally written by Henry Lazenby and published in The Northern Miner

The Northern Miner’s Drill Down features highlights of the best gold assays from the March 22-29 period. Drill holes are ranked by gold grade x width as identified by data company Mining Intelligence.

This week’s top assay results come from Awalé Resources’ (TSXV: ARIC) Odienne project in the Ivory Coast, followed by New Found Gold’s (TSXV: NFG) Queensway project and Amex Exploration (TSXV: AMX) at Perron, both in Canada.

Ivory Coast

Awalé on March 25 reported the week’s best assay result from hole OEDD-83, which cut 57 metres grading 26 grams gold per tonne from 164 metres depth for a width x grade value of 1,482.

CEO Andrew Chubb says the intersection was rare. “This drill hole is absolutely spectacular,” he said in a statement. “I have been looking at gold projects for the last 20 years and have never seen anything like this.”

The exploration team plans to drill an additional 25,000 meters this year to expand the Charger, BBM, and Sceptre discoveries and to scout prospective pipeline targets. Awalé sees Odienné being developed into a world-class mine camp.

The project benefits from an earn-in agreement allowing Newmont (NYSE: NEM, TSE: NGT) to acquire a minimum of 65% interest by funding US$15 million in exploration., The broader Odienné copper-gold project remains largely underexplored with significant growth and discovery potential.

Newfoundland and Labrador, Canada

The second-best assay this week comes from New Found Gold’s Queensway project. The company said on March 26 that hole NFGC-23-1941 returned 2.55 metres at 186.71 grams from 58 metres depth for a width x grade value of 476.11.

New Found has announced drilling results from 38 diamond drill holes at Iceberg Alley and 114 at the Keats Zone as it continues to trace high-grade gold within the Queensway project near Gander.

The hole marks a significant new area of interest. In the Keats Zone, barge-based exploration uncovered a continuation of the gold-mineralized Keats Main Zone, with standout results including 34.4 grams gold over 3.55 metres.

New Found is expanding the Iceberg and Iceberg East drill program, using seismic data to help target more gold mineralization in the fault. The company started drilling on the project five years ago, completing 500,000 metres by last year and adding another 150,000 to the planned total. There’s been no resource declared yet.

Quebec, Canada

Third on our list is Amex Exploration and its Perron project in Quebec’s prospective Abitibi region.Amex reported on March 28 that PEG-24-742 returned 3.5 metres at 76.69 grams from 131 metres depth for a width x grade value of 268.42.

The hole represents the best result yet from the emerging Gratien zone.

Amex’s drilling over a 4-km strike since at least 2017 discovered the gold zones named Eastern, Denise and Gratien, Central polymetallic, and Grey Cat. The property has year-round road access and lies near power and water services.

The site, 110 km north of Rouyn-Noranda, includes the historical Normetal gold mine, which operated until 1975 after a discovery in 1925. Falconbridge, now part of Glencore (LSE: GLEN), explored the property for base metals in the mid-1990s before Amex acquired the property through an option agreement.

If you would like to receive regular updates and the latest insights into the mining industry you can subscribe to the Costmine Intelligence newsletter here.

Want to learn more about Costmine Intelligence and how we can help you streamline your with your mining data needs?

Request a demo with a member of our team to get a personal assessment and discover what tools and data meet your needs.

Chris Berry

Vice-President Sales

Request a Demo

Related Insights

Image of Osisko's Malartic Mine, Quebec
Content

Top 10 Capital Raisings: Exploring Nevada’s Mining Landscape

Our analyst’s review for rail transport over the past decades notes the abnormally large increase in the cost to move rail freight continues and new rates now persist for a third year. The new cost regime in transportation appears more permanent fixture since the initial impact of Covid-19 continues unchanged. What is happening or what might be a cause of the much-steepened upward increase in cost seen in since 2020.

Free Data and Insights Delivered Directly to Your Inbox

Sign up for our newsletter to get regular updates on our products, along with free data, recommended posts on our Insights channel, and special opportunities.

Name(Required)
This field is for validation purposes and should be left unchanged.