Carlyle Commodities Corp. (CSE: CCC) has announced the successful completion of a diamond drill program at its Newton Gold Project, marking a significant step in the company’s ongoing efforts to enhance its resource base.
The drill program, spanning 840.3 meters across seven holes, aimed at testing high-priority targets to augment the NI 43-101 Newton Project Resource Calculation. All seven holes have been sampled and sent to Bureau Veritas, an ISO 9001 certified independent lab, for analysis, with initial results expected in the coming weeks.
The program targeted surface geochemical gold anomalies, open mineralization, and mineralized volcanic and intrusive rocks, focusing on increasing the NI 43-101 inferred mineral resource, expanding potential higher-grade areas, and exploring new zones of mineralization. The Newton Project hosts gold in felsic volcanic, mafic volcanic, and quartz porphyry intrusive rocks, all successfully intersected in varying degrees of alteration and associated sulphide deposition.
- Hole N23-092: Drilled 50 meters north of a previous hole, intersecting altered quartz feldspar porphyries with disseminated and fracture-controlled pyrite.
- Holes N23-093, 094, and 095: Targeted areas around historical hole 10030, intersecting propylitic altered mafic volcanics with disseminated and fracture-controlled sulphides.
- Hole N23-096: Drilled more than 100 meters north of the inferred mineral resource, intersecting strongly altered felsic volcanics with disseminated and fracture-controlled sulphides.
- Hole N23-097: Drilled immediately west of the inferred mineral resource, intersecting altered quartz feldspar porphyry with disseminated and fracture-controlled sulphides.
- Hole N23-098: Drilled 750 meters northwest of the inferred mineral resource, intersecting altered quartz feldspar porphyry with disseminated and vein-hosted pyrite.
Carlyle’s President and CEO, Morgan Good, expressed satisfaction with the program’s efficiency, stating, “We look forward to our results and continuing to advance the Newton project in 2024.” VP of Exploration, Jeremy Hanson, added, “We are certainly looking forward to our results and getting back on the ground.”
The Newton Gold Project, covering more than 24,000 hectares, boasts an inferred mineral resource containing 861,400 oz of Au and 4,678,000 oz of Ag. The deposit remains open in multiple directions, with potential for increased size, grade, and additional mineralized areas.
A detailed technical report, compliant with NI 43-101, is available on Carlyle’s SEDAR+ profile, providing comprehensive information on the updated Newton Project Resource Calculation.
Carlyle Commodities last traded at 0.085 on the CSE.
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