FULL DISCLOSURE: This is sponsored content for Canadian Gold Resources.
Canadian Gold Resources (TSXV: CAN) has completed its diamond drilling program at the Lac Arsenault Project, with results confirming the continuity of mineralization at the Baker Vein.
The program consisted of 10 drill holes totaling 869 meters, with the campaign specifically designed to test the geometry of the vein system beneath the area targeted for a planned bulk sample.
The drilling successfully intersected the Baker Vein in all ten holes. Highlights from the results include:
- LAC-25-BM-001: 19.50 g/t gold and 47.00 g/t silver over 1.0 metre from a depth of 30.3 metres
- LAC-25-BM-002: 7.01 g/t gold over 1.2 metres from a depth of 42.3 metres
- LAC-25-BM-003: 4.00 g/t gold and 7.00 g/t silver over 1.45 metres from a depth of 49.2 metres
High-grade highlights include hole LAC-25-BM-001, which returned 19.5 g/t gold and 47.0 g/t silver over 1.0 meter. Additionally, hole LAC-25-BM-010 intersected 15.0 g/t gold and 95.00 g/t silver over 0.4 meters. These results demonstrate that high-grade mineralization persists throughout the tested corridor, though the company noted the variability in grade distribution common in nuggety gold systems.
The completion of this program marks a primary step in de-risking the upcoming 5,000 tonne bulk sample. Data gathered from the three fan configurations used in this program will be integrated into an updated geological model to refine the parameters for the sampling phase. This larger-scale extraction is intended to reconcile the drill-indicated grades against actual processed tonnage to confirm the vein’s commercial potential.
With the drilling phase now finished, the company is awaiting the remaining assay results to finalize the next steps for exploration and development at Lac Arsenault. Management indicated that the focus will remain on evaluating the bulk sample area as they move forward.
In a parallel move, the company is also advancing permitting for a maiden diamond drilling program at its Robidoux Project. Further details have yet to be released on the program.
Canadian Gold Resources last traded at $0.13 on the TSX Venture.
FULL DISCLOSURE: Canadian Gold Resources is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Canadian Gold Resources. The author has been compensated to cover Canadian Gold Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
