Gold Springs Resource Corp. (TSX: GRC) today provided an update on the Gold Springs project, where it is conducting a 10,000-meter drilling operation in the Eastern Great Basin of Utah and Nevada. The company this morning announced the completion of 7 additional holes under the current program.
The South Jumbo area is home to 4 of the 7 holes, driving the number of holes drilled during 2021 within this area to 16 in total, where the company is looking to expand the current resource. One hole was located 125 metres east of the known resource to test depth extension, while three tested for down-dip and depth extensions.
The 3 remaining holes were drilled inside of the Central Jumbo target area. Each of the holes intersected broad zones of intermittent silicification within intense sericite-clay alteration, a characteristic of epithermal gold systems. All the holes were targeted using the ground based CSAMT geophysical survey completed last year, which recognized areas of high resistivity associated with the known mineralization.
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Drilling operations to date have been focused mainly on broadening the South Jumbo resource. The company will now move to test the Central target, before moving to the North Jumbo resource where drilling will be conducted in an effort to test for the expansion of the resource.
Gold Springs Resource Corp. last traded on the TSX at $0.10.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
