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Contact Gold Extends the Gold Footprint of Pony Spur and Discovers Another New Carlin-type Gold Target at Pony Creek
Vancouver, British Columbia--(Newsfile Corp. - March 26, 2019) - Contact Gold Corp. (TSXV: C)...
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[{"type":"text","content":"Contact Gold Extends the Gold Footprint of Pony Spur and Discovers Another New Carlin-type Gold Target at Pony CreekVancouver, British Columbia--(Newsfile Corp. - March 26, 2019) - Contact Gold Corp. (TSXV: C) (the \"Company\" or \"Contact Gold\") is pleased to announce the discovery of significant gold-in-soils extending 580 metres west from the previous drilling discovery at the Pony Spur target on the Pony Creek gold property (\"Pony Creek\"). In addition, the highest-grade gold-in-soil sample, 1.18 g/t gold, was returned from a new target 480 metres south of Pony Spur in a similar Carlin-type gold setting.Highlights:580 metres by 200 metres gold-in-soil anomaly up to 386 ppb Au (0.386 g/t Au) continuing west from the Pony Spur discovery holes (see news release September 5, 2018) Multiple soil samples over 100 ppb Au (0.1 g/t Au) extending east from the discovery outcrop of intensely silicified sandstone with strong barite and hematite alterationHighest grade soil sample at 1.18 g/t Au collected 480 metres south of Pony Spur in an area of gold-in-soil anomalies measuring 225m by 175mThese new gold targets are located along the traditional host horizon at the Devil's Gate Limestone - Webb Formation contact that hosts the majority of gold deposits on the southern Carlin Trend\"These new gold discoveries at the traditional Carlin-type gold host are very exciting. To discover our highest-grade gold in soil sample to date from Pony Creek is particularly encouraging given its proximity to Pony Spur, and our other targets on the property. In addition, we are excited to see that our drill intercepts from last year might only have been at the margin of the system and that there is a substantial footprint of gold extending west and south from Pony Spur.\" stated Matt Lennox-King, CEO of Contact Gold. Pony Spur TargetThe Pony Spur Target was acquired in 2017 as part of Contact Gold's expansion of Pony Creek. The claims cover an exposure of intensely silicified Chainman Shale with strong barite and hematite that occurs along a regional-scale, northwest-striking fault that projects into the Bowl Zone gold-in-soil footprint (580m-200m), defined by 24 soil samples across 3 soil sample lines 100m apart and on 50m centres7 samples returned better than 100ppb Au, which is considered highly anomalous in Carlin-type gold systemsDrilling in 2018 ...