Georgian Mining Corporation LON:GEO Managing Director Greg Kuenzel said, “Our exploration team has made rapid progress in advancing the Gold Zone 2 resource development program. Excellent channel sample results warranted a quick follow up of shallow drilling and each of the initial seven small diameter core drill holes has confirmed gold mineralisation near surface. We are stepping up the drill program with a large diameter core drill rig to test the extension of gold mineralisation at depths below 20m to determine the size of the gold resource. The drill programs at Gold Zone 2 and on the Copper Zone immediately to the south will proceed in tandem to further develop both gold oxide and copper-gold sulphide Mineral Resources with the concept of bringing both into one open-pit mining plan. We will regularly report progress on copper-gold sulphide Mineral Resources and the gold oxide Mineral Resources.”
Georgian Mining Corporation (LON:GEO) has given DirectorsTalk results from the program to expand the gold oxide resource at Kvemo Bolnisi East (‘KB’). Target development work and follow up drilling have been focused on three targets, two of which (Gold Zone 1 and Gold Zone 2) have gold oxide resource potential.
Channel rock sampling over a distance of 2,050 metres, followed by shallow, small diameter core drilling at Gold Zone 2 has defined additional gold targets with gold mineralisation open in all directions. Drill results to date justify a step up in diamond drilling and channel sampling to better establish the extent of Gold Zone 2 along with the drill program on Copper Zone 1. This is widening the program at KB with the focused objective of delineating a copper-gold sulphide resource and a gold oxide resource, both suitable for near-term production from one future open pit footprint.
Highlights
— The initial 14 vertical small diameter core drill holes drilled to a maximum 20m depth have been completed to test channel rock sample gold anomalies on Gold Zone 2, located immediately north of the Copper Zone and to the West of Gold Zone 1
-- Peak gold ('Au') drill intercepts from the first seven 20m deep holes include:
o TGD007 – 20m @ 2.2g/t Au from 0.0m to 20.0m
o TGD002 – 14.2m @ 2.00g/t Au from 5.0m to 19.2m
o TGD003 – 12m @ 1.29g/t Au from 8.0m to 20.0m
o TGD006 – 20m @ 0.74g/t Au from 0.0m to 20.0m
— Peak grades from individual drill samples include 82.1g/t Au (0.25m sample), 7.31g/t Au (1.0m sample), 7.12g/t Au (1.5m sample), and 6.61g/t Au (1.0m sample) which confirm the presence of high-grade gold- bearing structures as part of the overall gold mineralized zone
— The increase in drill sampling has been triggered by channel sampling of outcropping rock that have returned peak intervals including:
o 23.95m @ 3.19g/t Au
o 98.75m @ 1.19g/t Au
o 96.8m @ 0.80g/t Au
o 114m @ 0.49g/t Au
o 52m @ 1.04g/t Au
o 22m @ 1.50g/t Au
o 4m @ 15.63g/t Au
— Further announcements will be made as additional batches of gold assay results are received from the external laboratory over the next four weeks