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Peloton Minerals: Drill Results Include 34.4 g/metric tonne Gold Over 0.61 Meters on the SBSL Gold Project, Montana
Program Demonstrates the Potential for Grade as Well as Potential at Depth and Along Strike London, Ontario - TheNewswire - February 27, 2020 - Peloton Minerals
About this update from Peloton Minerals Corp.
[{"type":"text","content":"Program Demonstrates the Potential for Grade as Well as Potential at Depth and Along Strike London, Ontario - TheNewswire - February 27, 2020 - Peloton Minerals Corporation (\"Peloton\" or the \"Company\") (CSE Symbol: PMC) (CNSX:PMC.CN) (OTC:PMCFF) and joint venture partners Frederick Private Equity Corporation and African Metals Corporation (collectively Frederick/African Metals) have received an encouraging report from the project geologist on drilling completed in late 2019 at the Company's Silver Bell St. Lawrence Project (\"SBSL\") in Montana. Frederick/African Metals may earn up to a 75% interest in the SBSL project by spending US$2,000,000, including the funding of this past drilling program. This was the first drilling program conducted on SBSL by the Company or by Frederick/African Metals, with a total of 2,111.5 feet of core drilling being completed in 12 holes sited east and west along strike from the headframe of the former St. Lawrence mine (see photo below). The holes were designed to test the depth, extent, thickness, and grade of the vein system that was worked previously on at least two levels from an inclined shaft at the headframe. In addition, geologic mapping was conducted as well as surface sampling of veins, wall rocks and dumps. Nine vein intercepts containing significant Gold (\"Au\") and silver (\"Ag\") values were cut by drill holes as shown in the Table below. Intercepts included a high value of 34.4 grams per metric tonne (\"g/T\") Au and 130.5 g/T Ag over 0.61 meters. Highlights of the program, conclusions and recommendations are: Highlights of the Program, Conclusions and Recommendations: Nine (9) vein intercepts were encountered ranging from 0.21 meters in core width to 2.8 meters and an average thickness of 1.17 meters. Average weighted values for the 9 intercepts was 4.94 g/T Au and 65.35 g/T Ag. The 34.4 g/T Au intercept was encountered 40 meters down the dip of the veins from the 150 Level of the old workings demonstrating both the potential for grade and the potential at depth. The 34.4 g/T Au intercept was encountered at the western limit of the 2019 drill pattern and should be tested for the potential of a high-grade ore shoot based on that drill result and recent geologic mapping. An untested mineralized fault zone east of the mine was identified through geologic mapping and is coinc...