Carlyle Commodities Releases Drill Strategy For Phase Two Program
FULL DISCLOSURE: This is sponsored content for Carlyle Commodities.
Carlyle Commodities (CSE: CCC) has released its drilling strategy for a phase two program scheduled to begin in the near term at its flagship Newton Gold Project, found near Williams Lake, BC.
The program, which is set to consist of up to 1,500 metres of drilling across seven holes, is estimated to have each hole drilled to an average depth of 200 metres. Carlyle has indicated it intends to expand the program further once work is underway, with the drill program aiming to begin “as soon as possible.”
Proposed drill locations are said to have been already plotted following the review of data.
READ: Carlyle Commodities Begins Metallurgical Work At Newton Gold
There are currently four objectives for the program, the priority for which is testing higher grade, near surface extensions of the current inferred resource. Additional objectives include tying in historical step out locations to potentially increase the resource, drill test a highly prospective fourth felsic unit to the northwest, and to continue to define the resource and development potential of the project.
The Newton project currently holds an inferred mineral resource estimate of 861,400 ounces of gold and 4.68 million ounces of silver. The resource contains an average grade of 0.63 g/t gold, and uses a cut off grade of 0.25 g/t gold.
“As the gold market continues to strengthen Carlyle is looking forward to advancing its efforts at Newton. There are various higher-grade near surface targets to follow up with from historical drilling close to the limits of the current 43-101 Inferred Resource, as well as an intriguing felsic volcanic unit northwest of the deposit we are very keen to test early in the next phase of drilling,” commented CEO Morgan Good.
Carlyle Commodities last traded at $0.18 on the CSE.
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