Business
Contact Gold Reports Q3 2018 Financial and Operating Results
Vancouver, British Columbia--(Newsfile Corp. - November 29, 2018) - Contact Gold Corp. (TSXV:...
About this update from Commodore Metals Corp.
[{"type":"text","content":"Contact Gold Reports Q3 2018 Financial and Operating ResultsVancouver, British Columbia--(Newsfile Corp. - November 29, 2018) - Contact Gold Corp. (TSXV: C) (the \"Company\" or \"Contact Gold\") is pleased to announce its financial and operating results for the three- and nine-months ended September 30, 2018. Contact Gold's extensive land holdings are on Nevada's prolific Carlin, Independence and Northern Nevada Rift gold trends which host numerous gold deposits and mines. Contact Gold's land position comprises approximately 212 km2 of target-rich mineral tenure hosting numerous known gold occurrences, ranging from early- to advanced-exploration and resource definition stage (the \"Contact Gold Properties\"). The Company's focus is on the Pony Creek gold project.Quarterly highlights and recent developments Closed the sale of the \"Santa Renia\" and \"Golden Cloud\" properties on November 27, 2018 generating approximately $635,000 in additional cash; enhancing the Company's working capital balance to advance our strategic plan and reduce land holding costs. Announced a new near-surface discovery of oxide gold at the 2 kilometre (\"km\") long \"West Zone\" at Pony Creek, approximately 1 km from the property's \"Bowl Zone\". Highlights of drill results include:0.42 g/t Au over 33.53 metres oxide from 4.57 metres (\"m\") in discovery hole PC18-018;0.33 g/t oxide Au over 92.97 metres from surface in hole PC18-51;0.29 g/t oxide Au over 15.24 m from 10.67 m, and 0.24 g/t oxide Au over 7.62 m from 39.62 m, and 0.22 g/t oxide Au over 32.00 m from 64.01 m in hole PC18-23; 0.71 g/t oxide Au over 10.67 m from 19.81 m in hole PC18-022; 0.34 g/t oxide Au over 10.67 m from 10.67 m in hole PC18-21.Announced a new gold discovery at the Pony Creek property's \"Pony Spur\" target, located 2 kilometres NW of the Bowl Zone, and 1 kilometre west of the West Target.Highlights of drill results include:0.19 g/t oxide Au over 27.43 m from 65.53 m in hole PC18-26; 0.21 g/t oxide Au over 19.81 m from 53.34 m in hole PC18-27.Continued to report high-grade and oxide drill results at Pony Creek's Bowl Zone, the majority of which are step-outs from the historical mineral resource estimate and confirm that the Bowl Zone is open for continued expansion. Highlights of most recent drill results from the Bowl Zone include: 2.42 g/t over 35.05 m from 266.7 m in hole...