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Au Gold Corp Receives Drill Permit for Ponderosa Gold Project and Will Commence Fully Funded Drilling in April 2022
(TheNewswire) Vancouver, British Columbia – TheNewswire - March 24, 20...
About this update from Au Gold Corp
[{"type":"text","content":"Au Gold Corp Receives Drill Permit for Ponderosa Gold Project and Will Commence Fully Funded Drilling in April 2022 \n \n \n (TheNewswire)\n \n \n \n Vancouver, British Columbia –\n \n \n TheNewswire -\n \n \n March 24, 2022 –\n \n \n Au Gold Corp\n \n \n (TSXV:AUGC) (“\n \n \n AUGC\n \n \n ” or the “\n \n \n Company\n \n \n ”)\n \n \n is pleased to announce it has received the\nnecessary permits to conduct its inaugural  diamond drill program at\nits road accessible Ponderosa epithermal gold project 16 km southwest\nof Merritt, BC.  The fully funded drill program will comprise a\nminimum 1,500 m of diamond drilling  in 10-14 holes to be conducted\nby Superior Diamond Drilling Inc. of Powell River, BC.  Phase I\ndrilling is expected to commence in April and will target the Tomahawk\nand Flat Iron Zones in the central part of the property.\n \n \n \n \n Highlights:\n \n \n \n \n \n \n Fully funded\n \n \n diamond drilling of\n \n \n 1,500 m in\n10-14 holes\n \n \n to commence in April.\n \n \n \n \n \n \n Targeting\n \n \n 15 m\nwide\n \n \n \n \n auriferous\n \n \n bedrock vein exposure at\nTomahawk\n \n \n that has never been\ndrill-tested.\n \n \n \n \n \n \n Targeting\n \n \n 25 m\nwide historical auriferous zone at Flat Iron\n \n \n that has never been drill-tested.\n \n \n \n \n \n \n President & CEO Marc Blythe commented “We are\nvery happy to have received our permits and get started on the next\nphase of exploration at Ponderosa.  The Company has conserved funds\nwhile waiting for permits, continuing to hone its exploration plan and\nprepare to drill.  The infill soil sampling carried out in 2021\nhighlights additional exploration potential on other lower priority,\nbut still significant targets at Ponderosa.”\n \n \n \n \n Tomahawk Zone\n \n \n \n \n The\n \n \n Tomahawk Zone\n \n \n is currently\nexposed for 55 m along a north-northeast strike and 15 m across the\nwidest continuous exposure.  Dips are modera\n \n \n \n \n te to steep toward the west between\n45 and 70 degrees.  Mineralization and alteration comprise high level\nangular volcanic breccias with multiple phases of silica cement and\nstockwork style veining; tan to orange-brown clay altered volcanic\noften finely fractured with multiple generations of clear t...