Drill Assay Results from Goldenville Project Return 98.29 g/t Gold over 0.7 Metres and a Broader Intercept of 6.90 Metres Grading 2.70 g/t Gold
Osprey Gold Development Ltd. (TSXV: OS) (OTCQB: OSSPF) have announced further assay results from its 18 hole, 3,044m drill program at the Company’s Goldenville Property, located in Guysborough County, Nova Scotia. The release includes results for holes G17-08 to G17-15 drilled on the main Goldenville trend, in the immediate vicinity of the Company’s current NI 43-101 Inferred Resource of 2,800,000 tonnes at 3.20 g/t gold for 288,000 ounces of gold (2,800,000 tonnes at 4.96 g/t gold for 447,000 ounces of gold uncapped).
Notable in the 2017 holes are multiple significant intercepts reflecting the mineralized nature of the Goldenville trend where gold is hosted in an array of stacked quartz veins and host rocks within a large anticlinal fold.
- G17-14 intersected 52.00 g/t gold over 0.70, within 6.30 m of 6.22 g/t gold — this area is open 750m to the east to hole G07-12;
- G17-08 intersected 98.29 g/t gold over 0.70 m, as well as 2.70 g/t gold over 6.90 m on the north limb of the anticline;
- G17-15 intersected 1.52 g/t gold over 14.40 m 64 m east along strike from G17-08, east of Highway 7 in the Bluenose Mine area;
- G17-09 intersected 2.04 g/t gold over 11.10 m, 114 m along strike from G17-08;
- G17-13 intersected wide zones of well mineralized host rock and quartz veins in the same unit as G17-07, but no values over 1 g/t gold;
Company President Cooper Quinn said: “We’re very happy with the results of this program. These results support the potential to expand our current resource at Goldenville. The drill program also tested for broader zones of mineralization outside of the vein-hosted gold; this was successful in the southern limb of the Goldenville anticline in hole G17-14 which contained multiple intercepts of lower grade mineralization within the host rock. In the northern limb, results in the Bluenose Mine shaft area are very encouraging, returning the highest grades Osprey has drilled to date as well as broad zones of mineralized host rock and quartz veining, highlighted in hole G17-15 drilled over 300 m along strike to the east from G17-14.”
Via Newsfile Corp. – February 21, 2018