Business
Stakeholder Gold Corp. Starts Drilling in Nevada
Toronto, Ontario--(Newsfile Corp. - December 5, 2017) - Stakeholder Gold Corp. (TSXV: SRC) (...
About this update from Stakeholder Gold Corp.
[{"type":"text","content":"Stakeholder Gold Corp. Starts Drilling in NevadaToronto, Ontario--(Newsfile Corp. - December 5, 2017) - Stakeholder Gold Corp. (TSXV: SRC) (\"Stakeholder Gold\" or the \"Company\") is pleased to announce commencement of its Phase 1 program of core drilling on the Goldstorm property in Nevada.The Company has completed preparation of three drill site pads on the Clayton and Prochnau Midas-style gold-silver targets at Goldstorm. Stakeholder has now mobilized a core rig capable of drilling 600 metre deep, HQ wireline core holes. The first drillhole will test the 100 m wide Clayton zone and transect seven discrete fault zones that could host Midas-style, epithermal, low sulphidation gold-silver mineralization, including the first test ever of the \"Collar Vein\" fault zone that was discovered in 2010 during drill site preparation for hole G-2010-1. The first hole is planned to intersect the gold-mineralized Clayton Vein at an elevation below the 1830 MSL (Mean Sea Level) elevation that appears to be the approximate top of the zone of ore continuity at the Midas Mine, and perhaps also at the Fire Creek and Hollister mines. This may represent an ancient paleo ground water table present in the region at the 15.4 Ma age of mineralization for all of these mines.The location of the second and third drillholes will depend on the visual results of the first core hole. A second hole is currently planned to test the southeast extension of the Clayton zone. The third hole will test the 90 m wide Prochnau zone that lies northeast of, and sub-parallel to, the Clayton Vein system. The Prochnau Veins system has never previously been drill tested.The Company's combined ground position now encompasses 3,806 contiguous acres. The enhanced land position surrounds both the Clayton Veins and the Prochnau Veins systems, and includes their respective strike extensions. Success with early drilling would open up the prospect of considerable expansion on strike and depth extensions.\"This initial drill program will be executed quickly. It is designed to provide us with confirmation of the Clayton Vein and Prochnau Vein systems. Our target is mineralization similar to a Midas Mine type, high grade low sulphidation epithermal gold system. Success with this program will have a meaningful impact on our prospects for an economic gold discovery at Goldstorm.\" stat...