Crosshair Exploration and Mining (CXX-V) has intersected significant gold in recent drilling on its Wing’s Point-Titan prospect, 40 km north of Gander, Nfld.
Highlighting the drilling is a 3.35-metre intersection that graded 10.22 grams gold; this is included in a 5.25-metre interval that averaged 6.77 grams gold per tonne. Visible gold was seen in the core.
Another hole (WP-5) intersected 3.65 grams gold over 2.32 metres. This included an intercept that graded 10.3 grams gold over a 0.53-metre width. A third hole intersected 2.5 metres grading 4.45 grams gold per tonne.
Eleven HQ-sized holes were drilled (totaling 881 metres). Five holes contained intercepts from 0.1-6.95 metres in length that graded 0.76-7.63 grams gold per tonne. Three holes failed to intersect significant mineralization. In hole WP-5 gold values were associated with sedimentary rock rather than gabbro. This indicates that gold is more pervasive than previously thought.
The Titan prospect has been exposed in intermittent trenches over a strike length of 485 metres. Mineralization occurs close to the boundary of the original grid over the prospect. As a result, soil sampling has been completed over an additional 250 metres to the northeast and to the southwest. Following the drilling, an induced polarization survey tested the area. Results are expected later this month.
The Wing’s Point-Titan prospect is a joint venture under option from Rubicon Minerals (RMX-T). Crosshair can earn up to 60% of the property by spending $1.5 million (and issuing 400,000 shares to Rubicon) over a four-year period.
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