Gold Lion Resources (CSE: GL) this morning released the first results from trenching that took place late last year at its Robber Gulch property, located near Burley, Idaho. The company saw a trench on the property, referred to as RG-TR-20-03 assay 0.45 g/t gold over 174 metres, including 0.88 g/t gold over 45 metres.
The intersection on the property signifies a new Carlin-type oxidized gold discovery on the firms property, with the trench intersecting a broad interval of disseminated oxidized gold. Located within the Raider Zone, the trench is said to remain open in multiple directions while samples are said to be representative, even and continuous. Sampling was conduced via two to three metre long chip samples along the entire length of the trench.
The mineralization zone was intersected via two cross trenches, RG-TR-20-03 as mentioned above, as well as RG-TR-20-02, while remaining open to the north and south where it said to trend underneath thin basalt cover. The company is planning several additional trenches to the south of the new discovery, with trenching proven to be a cost-effective means of sampling and obtaining structural and stratigraphic data for further targeting.
It should also be stated that representative cyanide-soluble assays from the interval highlighted returned an average of 90% fire assay, while the discovery was located in a region that is road-accessible and near to excellent infrastructure. It is believed that the grade increases to the south, onto US Forest Service ground, where a categorical exclusion application for trenching and drill collaring has been submitted for.
|Trench ID||Location||From (m)||To (m)||Interval (m)||Au (g/t)|
“The tenor of the Raider Zone gold-in-soil anomaly also increases to the south, into never-before trenched or drill-tested ground, managed by the US Forest Service. Outcrop grab samples of up to 6.49g/t gold have been collected by the Company along this southern extension (see news release dated July 2, 2020). We are very excited to continue testing the Raider Zone along strike, both on BLM and Forest Service ground once permits are received from the USFS.”Chris Paul, Exploration Manager for Gold Lion
The company also announced this morning that its maiden drill program is continuing as planned on the property. The first hole, RG-RC-20-01, has been completed to a depth of 1,240 feet, with abundant quartz veining and iron oxide said to have been encountered at the top of the hole. The entire hole has since been sampled and sent for analysis.
Gold Lion Resources last traded at $0.33 on the CSE.
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