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P2 Gold: Drilling at Gabbs Intersects 1.01 g/t Gold Equivalent Over 153.92 meters and Expands Sullivan Zone to the Southeast
VANCOUVER, British Columbia, Dec. 01, 2021 (GLOBE NEWSWIRE) -- P2 Gold Inc. (“P2” or the “Company”) (TSX-V:PGLD) reports results from the final 11 reverse circu
About this update from P2 Gold Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 01, 2021 (GLOBE NEWSWIRE) -- P2 Gold Inc. (“P2” or the “Company”) (TSX-V:PGLD) reports results from the final 11 reverse circulation (“RC”) drill holes (GBR-013 to 023) of Phase One drilling at the Sullivan Zone, and on activities recently completed and underway, at its Gabbs Project located on the Walker-Lane Trend in Nevada. “We have the assays for all of the Sullivan Zone drill holes from the Phase One program, and the results confirm our thesis that the historical drilling understated the width and grade of the gold-copper mineralization at Gabbs,” commented Joe Ovsenek, President and CEO of P2. “This Phase One program has also confirmed that the Sullivan Zone measures at least 1,000 meters long and over 200 meters wide, and hosts near-surface, high-grade gold-copper mineralization. The preparation of an updated Mineral Resource estimate is underway and expected to be completed in the first quarter of 2022. RC samples for the remaining three holes from the Car Body Zone and one hole from the Lucky Strike Zone are in the lab, and we expect to release those results early in the new year.” Gabbs Phase One Drill Program, Sullivan Zone Select drill results (see Table 1 below for drill results) from holes GBR-013 to GBR-023 include: Hole GBR-014 intersected 1.18 g/t gold equivalent (0.77 g/t gold and 0.35% copper) over 82.30 meters, including 21.34 meters grading 2.31 g/t gold equivalent (1.71 g/t gold and 0.51% copper); Hole GBR-021 intersected 1.01 g/t gold equivalent (0.63 g/t gold and 0.32% copper) over 86.86 meters, including 25.91 meters grading 1.57 g/t gold equivalent (1.06 g/t gold and 0.44% copper); and Hole GBR-022 intersected 1.01 g/t gold equivalent (0.60 g/t gold and 0.36% copper) over 153.92 meters, including 42.67 meters grading 1.53 g/t gold equivalent (1.02 g/t gold and 0.44% copper). Drill holes GBR-013 to 018 were designed to test the southeastern half of the Sullivan Zone. In particular, holes GBR-014 and 015, drilled along the edge of the previously defined limit of the Sullivan Zone mineralization, confirmed that the zone is still open to the southeast. Drill hole GBR-013 ended prior to planned depth, and it along with hole GBR-016 did not intersect the monzonite or footwall mineralization. Drill holes GBR-019 and 020 expanded upon the mineralization encountered in drill ho...