Cambria Gold Mines (TSXV: CAMB) is starting to turn drill core into a mining plan, and the early numbers give it plenty to work with.
The company reported assays from underground infill drilling at the Prew Zone of its flagship Premier Gold Project, headlined by an intercept of 24.36 g/t gold over 6.3 metres. The results come from a first phase of 42 holes totaling 3,151 metres, drilled to tighten spacing to roughly 12.5 metres so geologists can map how the higher grade gold holds together.
Highlights included:
- P26U-0023: 24.36 g/t gold over 6.3 metres from a depth of 33.2 metres
- P26U-0026: 13.17 g/t gold over 10.6 metres from a depth of 30.5 metres
- P26U-0033: 8.31 g/t gold over 11.0 metres from a depth of 39 metres
- P26U-0014: 7.89 g/t gold over 8.0 metres from a depth of 34 metres
- P26U-0034: 3.30 g/t gold over 25.0 metres from a depth of 43 metres
Assays on another 86 drill holes are still pending. Cambria has also moved three drills onto its Silver Coin and Big Missouri deposits, where teams have remodeled wide zones of gold mineralization in quartz and sulphide breccias mined back in the 1940s and 1990s.
“Drilling continues to define wide, high-grade areas as well as important understanding of post-mineral faults at the Prew Zone,” said President and Chief Executive Officer Robert McLeod, who added that further underground infill work would resume after planned fourth quarter development near the project’s 2,500 tonne per day mill.
The drilling caps a busy stretch for the company. Earlier this month, Cambria agreed to spin its Mt. Margaret copper-gold deposit into ECC Ventures 4 Corp., paired with a financing of up to US$100 million, to create a separate U.S.-focused company.
Cambria Gold Mines last traded at $0.80 on the TSX Venture.
