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Contact Gold Announces Maiden Resource Estimate of 433,000 Inferred Ounces of Gold at the Pony Creek Project, Carlin Trend, Nevada
Vancouver, British Columbia--(Newsfile Corp. - January 11, 2022) - Contact Gold Corp. (TSXV...
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[{"type":"text","content":"Contact Gold Announces Maiden Resource Estimate of 433,000 Inferred Ounces of Gold at the Pony Creek Project, Carlin Trend, NevadaVancouver, British Columbia--(Newsfile Corp. - January 11, 2022) - Contact Gold Corp. (TSXV: C) (OTCQB: CGOLF) (the \"Company\" or \"Contact Gold\") is pleased to announce an initial mineral resource estimate at its Pony Creek gold project located in Elko County, northeastern Nevada. Pony Creek is one of the Company's two advanced exploration-stage, Carlin-style gold projects in the Nevada. The 100% owned Pony Creek project is strategically located immediately south of Gold Standard Ventures' South Railroad Project which is in the process of completing a feasibility study and permitting an open pit heap leach gold mining operation. Key Points:433,000 total inferred pit constrained ounces at an average grade of 0.52 grams per tonne (g/t) Au utilizing a US$1,600/oz pit shell and cut off grades of 0.14 and 0.22 g/t Au, depending upon recovery profile.Overall strip ratio of 2.98Clear opportunities to expand the footprint of near surface oxidized gold mineralization across Pony CreekThe Stallion Zone is wide open for expansion in all directions, particularly along strike to the NorthThe Bowl Zone remains open, particularly to the NW in the direction of the Palomino targetOffset and infill drilling of mineralization at Appaloosa, Pony Spur and South Stallion targetsThe project hosts the large-scale undrilled Mustang and Elliot Dome targets, developed by Contact GoldThe Company has an approved Plan of Operations to conduct drilling at Pony Creek on all the high priority targets developed since 2017, with the drill season at Pony Creek typically running from late May through DecemberContact Gold has completed cyanide solubility assays on all samples with Fire Assays returning greater than 0.1 g/t Au, providing an initial guide to potential recoverabilityThe Company has also completed cyanide bottle roll tests on material from the Bowl and Appaloosa Zones, and confirmed the absence of significant amounts of organic carbon within the Pony Creek host rocks Future programs will focus on expanding the mineral resources at Pony Creek, through step out drilling at the existing deposits and drill testing the large-scale Mustang and Elliot Dome targets for the first time. \"The MRE at Pony Creek is a key development i...