Borealis Mining Company (TSXV: BOGO) has hit strong gold mineralization under a small drill program conducted at its Borealis Gold Project.
The 3,500 metre drill program has hit multiple intervals of gold at the Graben target, which historically has shown large widths of consistent gold mineralization. Highlights from the results include:
- BHBM007: 1.15 g/t gold over 56.4 metres from a depth of 166.7 metres
- BHBM008: 1.58 g/t gold over 45.7 metres from a depth of 187.5 metres
- BHBM011: 2.25 g/t gold over 99.1 metres from a depth of 184.4 metres, including 4.06 g/t gold over 21.3 metres
- BHMB013: 2.11 g/t gold over 36.6 metres from a depth of 193.5 metres, including 8.24 g/t gold over 4.6 metres
- And 2.06 g/t gold over 27.4 metres from a depth of 312.4 metres
The results are said to expand upon known historical results at the Graben deposit, which indicate a large body of near-surface mineralization. Borealis intends to return to the deposit for drill testing in early 2025, with the aim of expanding the system to the north.
The company has also been permitted to conduct a 55,000 tonne underground sample at the Graben zone, which is to be completed via a ramp in the adjacent Freedom Flats pit.
Elsewhere on the project, RC drilling focused on intersecting oxide mineralization is ongoing on the western portion of the project, while geological mapping and sampling remains ongoing. Planning and prep work is also underway for crushing 330,000 tonnes of stockpiled oxide mineralization from prior operation that existed onsite, as well as for the resumption of mining.
Borealis Mining last traded at $0.54 on the TSX Venture.
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