Drilling by Gold Summit (GSM-V) has cut some narrow intervals of high-grade gold down-dip and along strike from a series of veins on its Tip Top property in Esmeralda Cty., Nevada.
The company has sunk a total of 705.5 metres in 9 core holes over 61 metres of strike length. Selected results from the first five holes include:
- hole 1 – 1.5 metres (from 44.4 metres below surface) grading 5 grams gold and 41 grams silver per tonne;
- hole 2 – 0.95 metre (from 27.9 m) of 7.16 grams gold and 64 grams silver;
- hole 3 – 0.76 metre (from 34.4 m) running 20.42 grams gold and 113 grams silver; and
- Hole 5 – 0.73 metres (from 54.7 m) of 4.52 grams gold and 11 grams silver.
Hole 4 failed to return gold grades exceeding 1 gram gold. Results for the remaining four holes will follow.
The company says that intervals exceeding 5 grams gold generally correspond to clay zones rich in vuggy, white quartz vein fragments with ubiquitous calcite pseudomorphs.
The Tip Top property is situated in the andesite belt of western Nevada. The property is home to a 400-metre-long epithermal vein averaging 3 metres wide. Previous limited drilling was highlighted by one 4.6-metre core intersection grading 11.2 grams gold. Near the middle of the vein system reverse-circulation drilling cut grades of 16.8 grams per tonne across a 3.5-metre width and 15.8 grams per tonne across a 2.6-metre width.
Future drill plans at Tip Top await ongoing evaluation of data from the recent drill program; detailed mapping continues.
Meanwhile, the company plans a diamond drilling program for high-grade vein mineralization at the Gold Reef property in California in December. Field mapping and data compilation continues at the Monte Cristo property.
Shares in Gold Summit were a nickel, or nearly 7%, higher at 80 in thin, late afternoon trading in Vancouver following the news on Nov. 21.
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