Gold X2 Mining (TSXV: AUXX) has released the first assays from its QES Deeps drill program at the Moss Gold Project. Two holes saw assays released this morning, with both holes cutting long runs of gold up to 100 metres below the current open pit shell.
The two holes are the first of 21 planned for the campaign, with the holes intersecting mineralized shear zones wider than the company’s model had predicted.
Highlights from the results include:
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- MQD-26-465: 0.73 g/t gold over 227.2 metres from a depth of 637.8 metres
- Including 0.90 g/t gold over 157.75 metres from a depth of 707.25 metres
- Including 1.43 g/t gold over 42.0 metres from a depth of 774.0 metres
- Including 2.65 g/t gold over 11.95 metres from a depth of 790.05 metres
- MQD-26-474: 0.73 g/t gold over 271.6 metres from a depth of 630.4 metres
- Including 0.89 g/t gold over 173.0 metres from a depth of 685.0 metres
- Including 4.86 g/t gold over 8.0 metres from a depth of 721.0 metres
- Including 1.05 g/t gold over 52.0 metres from a depth of 767.0 metres
The two holes were collared on the southern flank of the QES Zone and drilled 75 to 100 metres below the current pit shell. Both cut a core shear zone that is an estimated 170 to 180 metres in true width, with several higher-grade intervals inside it.
The new holes also sit 180 metres above MQD-25-326, the deepest hole on the deposit, which cut 117 metres of 1.21 g/t gold in March. That suggests the mineralized shears run well below the current drilling.
Gold X2 says the lower part of the current pit is limited by sparse drilling rather than by economics. The QES Deeps campaign is designed to fix that, so that economic parameters alone set the size of the pit.
“These results reinforce the potential to expand the open pit to depth and represent a meaningful opportunity to grow the current mineral resource at the Moss Gold Project,” said CEO Michael Henrichsen. “With 12 of the 21 planned holes in the QES resource expansion program now complete, we are continuing to define the scale and continuity of mineralization beneath the existing pit.”
Gold X2 has now completed 12 of the 21 planned holes and expects more assays over the coming weeks.
Gold X2 Mining last traded at $9.77 on the TSX Venture.
