Carlyle Commodities Corp (CSE:CCC, OTC:DLRYF) announced that it has received assays from the first drill hole at its 100% owned Newton gold-silver project in British Columbia, which included 689 metres (m) of continuous consistent well mineralized bulk tonnage mineralization grading 0.51 grams per tonne (g/t) gold and 1.5 g/t silver starting from 18m depth.
The mineral exploration company also said a higher-grade zone was discovered about 50m below the current Inferred resource that graded 1.24 g/t gold and 1.16 g/t silver over 30m.
“With our first drill hole we have confirmed that this system is open for potentially vast expansion,” Carlyle Commodities CEO Morgan Good said in a statement.
READ: Carlyle Commodities awaiting assay results after completion of Phase 1 drill program at Newton gold-silver project in BC
“Drilling nearly 700 meters of over half a gram gold from near surface shows how continuous and deep this system is,” Good added.
Carlyle noted the positive feedback from the initial hole is a key step in confirming the Newton project hosts numerous opportunities to potentially expand the current Inferred resource and define new mineralized zones.
The company added that recent drilling extends the known mineralization about 345m beyond the Inferred resource limits, opening up significant volumes of rock for potential resource expansion.
In addition, Carlyle said it is awaiting assays of the remaining two drill holes from its Phase 1 program and expects to update the market over the coming weeks.
The Newton project is a low sulphide epithermal system that remains open in multiple directions, within a highly prospective land package that is workable year-round, according to the company.
Carlyle Commodities is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties.
Contact Sean at sean@proactiveinvestors.com