Trillium Gold Mines (TSXV: TGM) this morning reported the first results from the ongoing drill program at the firms Gold Centre Property. Located in the Red Lake Region of Ontario, the property sits directly adjacent to Evolution Mining’s Red Lake Operations.
The first two drill holes from the program were reported on a preliminary basis by the company this morning, with drilling intersecting the same Huston-Balmer style geology on the property. The intersection suggests that the mineralization known to be present at Evolution’s mine continues onto the property owned by Trillium Gold along strike and at depth.
The drill program itself is set to see a total of eight holes drilled on the northern portion of the property, across an aggregate of 8,000 metres. Drilling is targeting mineralization identified via an IP survey conducted in 2013 by the previous property owner, Rupert Resources.
The first hole was drilled to a total depth of 830 metres, with the target mineralization intersected at a depth of 521.1 metres. The second hole meanwhile was drilled to a depth of 809 metres, with the Huston-Balmer contact being intersected at a depth of 713.15 metres. Assays for both holes are currently pending.
“Our first two drillholes at the Gold Centre property already indicate a very favourable milestone. We have seen both the source of the IP anomalies and the Huston-Balmer contact as well as indications of the same alteration and structures as at the Red Lake Mine next door. With access to the western side of the property now becoming a possibility, we anticipate even more success in the drilling.”
William Paterson, Trillium Gold’s Vice President of Exploration
Trillium Gold last traded at $0.74 on the TSX Venture.
FULL DISCLOSURE: Trillium Gold Mines is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Trillium Gold Mines on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
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