Business
AUGC Provides Update on Ponderosa Gold Project and Work Plan for 2023
(TheNewswire) Vancouver, B C - TheNewswire - May ...
About this update from Au Gold Corp
[{"type":"text","content":"AUGC Provides Update on Ponderosa Gold Project and Work Plan for 2023\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver,\nB\n \n \n \n \n C\n \n \n \n \n -\n \n \n \n \n TheNewswire -\n \n \n \n \n May 23, 2023 -\n \n \n \n \n Au Gold\nCorp.\n \n \n \n \n (TSXV:AUGC)\n \n \n \n \n (“\n \n \n \n \n AUGC\n \n \n \n \n ”\n \n \n \n \n or\nthe\n \n \n \n \n “\n \n \n \n \n Company\n \n \n \n \n ”)\n \n \n \n \n is pleased to provide an update for the 2023 exploration\nseason at Ponderosa.  Management continues to be enthusiastic about\nthe project and believes it has the potential to host a significant\ngold discovery.\n \n \n \n \n \n \n “Au Gold Corp remains extremely\npositive that a significant gold discovery will be made at\nPonderosa” states AUGC President and CEO, Marc Blythe.  “While\nthe initial drilling at Tomahawk has verified the presence of\nhigh-level gold-silver-bearing epithermal style mineralization, six\npriority targets bearing moderate to strong gold-arsenic soil\ngeochemical responses and/or prospecting sample results remain to be\ntested”.\n \n \n \n \n \n \n The Ponderosa Gold Property is located\nwith the unceded traditional territory of the Nlaka’pamux\nPeople.\n \n \n \n \n \n \n 2022 Exploration\nSummary – Why We Are Excited About Ponderosa\n \n \n \n \n \n \n During 2022, exploration focused\nexclusively on the Tomahawk and Flat Iron targets.  Drilling\nsuccessfully identified epithermal alteration and mineralization in\nall 20 holes drilled with 10 of 20 holes yielding anomalous gold\n(>0.20 g/t – 2.20 g/t Au) and silver intervals (described in the\nNews Release dated\n \n \n \n \n \n August 4,\n2022\n \n \n \n \n \n ).  Management\nfocused its efforts at the Tomahawk and Flat Iron zones on the basis\nof significant outcrop exposure (Tomahawk) and historical trench\nreferences (Flat Iron).  Both target areas are represented by only\nintermittent weak gold/arsenic-in-soil anomalism but host broad\noutcrop exposures indica\n \n \n \n \n \n \n tive of a high-level\nlow sulphidation epithermal system.  Sections showing the geology and\nassay results for the 2022 drilling have been posted to the\nCompany’s website at\n \n \n \n \n \n https://augoldcorp.com/project/pond...