Business
Contact Gold Reports Q1 2019 Financial and Operating Results
Contact Gold Corp. (TSXV: C) (the "Company" or "Contact Gold") is pleased to announce it...
About this update from Commodore Metals Corp.
[{"type":"text","content":"Contact Gold Reports Q1 2019 Financial and Operating ResultsContact Gold Corp. (TSXV: C) (the \"Company\" or \"Contact Gold\") is pleased to announce its financial and operating results for the three months ended March 31, 2019. The Company's focus is on the Pony Creek gold property (\"Pony Creek\") located within the Pinion Range, in western Elko County, Nevada, south of the Railroad Pinion project operated by Gold Standard Ventures. Pony Creek encompasses approximately 107 km2 in the southern portion of the Carlin gold trend and hosts near surface oxide and deeper high-grade gold occurrences and targets supported by extensive exploration databases. The Company made several new gold discoveries at Pony Creek in 2018, and to date 87 of 93 holes drilled by Contact Gold have encountered gold mineralization. Quarterly highlights and recent developments Closed financings for aggregate gross proceeds of $6.85 million Announced the start of the 2019 drilling program at Pony Creek with the mobilization of one reverse circulation (\"RC\") drill rig Expansion through RC drilling of the Bowl Zone area by a further 250 m to the south of previously known mineralizationExtension of the gold footprint at the Pony Spur target, including gold-in-soils extending 580 metres west from the Pony Spur discovery hole Developed multiple new Carlin gold targets at Pony Creek, including:\"Palomino\" - immediately northwest of the high-grade oxide portion of the \"Bowl Zone\"\"Mustang\" - a continuation of the 1.5 kilometre (\"km\") long gold-in-soil \"Moleen\", and \"Willow\" targets, located 600 metres (\"m\") north of the \"Stallion Zone\" (previously named the \"West Zone\"), and immediately south of GSV's Jasperoid Wash discovery \"DNZ\" - north-south striking structural target that lies on strike between GSV's Dixie target and the Appaloosa ZoneOutlookWith the closing of the non-brokered private placement on March 14, 2019, and closing of the public offering on May 22, 2019, the Company is fully funded to begin its 2019 exploration and drilling program at Pony Creek. Areas of immediate focus are expected to include expanding the high-grade oxide gold zone of the Bowl Zone first encountered in 2018 drilling, and follow-up drilling at the 2.3 km long \"Stallion\" oxide gold discovery, and at the Appaloosa Zone.For a map of the Pony Creek target areas ...