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Contact Gold Receives Plan of Operations Permit for the Pony Creek Gold Project, Nevada
Vancouver, British Columbia--(Newsfile Corp. - June 18, 2020) - Contact Gold Corp. (TSXV: C...
About this update from Commodore Metals Corp.
[{"type":"text","content":"Contact Gold Receives Plan of Operations Permit for the Pony Creek Gold Project, NevadaVancouver, British Columbia--(Newsfile Corp. - June 18, 2020) - Contact Gold Corp. (TSXV: C) (OTCQB: CGOL) (the \"Company\" or \"Contact Gold\") is pleased to announce receipt of a key permit for the Pony Creek gold project (\"Pony Creek\"), allowing the Company to ramp up drilling to test high-priority targets across a broad area of the property. Drilling to date has been limited to 10 acres, leaving a significant footprint of prospective terrain underexplored. Pony Creek is located on the Carlin Trend in Elko County, Nevada, immediately south and east of Gold Standard Venture's Railroad project. Receiving the Plan of Operations means that all the high priority drill targets developed by Contact Gold over the last 2.5 years can now be drilled. Pony Creek can now support exploration activities, including drill pad and road construction of up to 150 acres a significant increase from the 10 acres previously under Notice of Intent permits that facilitated drilling in 2017, 2018 and 2019.\"Receipt of the Plan of Operations permit is a key milestone for Pony Creek,\" said Matt Lennox-King, President & CEO of Contact Gold. \"Our exploration success at Pony so far has been within a limited footprint under Notice of Intent permits. The Plan of Operations allows for an aggressive follow up on our recent discoveries at the Stallion and Bowl Zones, and to test the other high-quality drill targets our team has generated over the past 2.5 years. We believe Pony Creek can deliver several new gold discoveries.\"Drilling to date at Pony Creek has been very successful in both expanding previously known zones of near surface gold mineralization and making new discoveries on previously un-drilled targets developed by Contact Gold. Pony Creek was acquired in June 2017 in the \"founding\" transaction to create Contact Gold. Since that time, the Company has made significant progress advancing, de-risking and augmenting the exploration and growth potential of the property. Contact Gold has drilled 25,960 metres in 117 drill holes across four main target zones, maintaining a hit ratio of over 90% of all drill holes hitting significant gold mineralization (defined as greater than 3 metres grading 0.14 g/t Au). For an overview map of the known gold zones and the ne...