NSGold Corporation (NSX – $0.68) finally received all assay results from the phase 1 drilling program at its Mooseland Gold property in Nova Scotia. The results confirm the findings of previous owners and have simultaneously answered a lot of questions.
In the table below, you’ll notice that high grade gold intercepts were found in almost every hole.
Noteworthy is the fact that throughout the Mooseland deposit there are quartz structures that run several meters wide with gold values of less than 1 gram per tonne, while also containing gold values of +10 grams per tonne. Basically, the gold isn’t spread equally over the quartz structures, but is found in nuggets. This is the so-called “nugget-effect“.
At this moment, all the information from the lab is being analyzed. The data sets (core angles, depth of the hole, thickness of the intercepts, etc.) are inserted into a database to produce a two and three-dimensional image of the subsurface geology. This way, the geologists can determine where the intercepts interrelate.
Based on that information a follow-up work program will be designed to extend the ore body. If certain gaps need to be filled, the Company may also initiate a limited underground drilling program.
I also expect that the NI 43-101 compliant Technical Report, which is currently being prepared by MineTech International, will be published shortly. From what understand the NI 43-101 report will provide them the necessary data to design and plan the next phase.
The National Instrument 43-101 (NI 43-101) is a codified set of rules and guidelines for reporting and displaying information related to mineral properties owned by, or explored by, public companies supervised by the Canadian Securities Administrators.
The purpose of a NI 43-101 is to ensure that misleading, erroneous or fraudulent information relating to mineral properties is not published and promoted to investors.
Results from the three holes drilled at the Leipsigate property were also published. The key result there was that the gold-bearing trend known as the “Main Fissure Vein” extends along a 1.3 kilometer zone not previously known making it a target zone for subsequent drillings.
The data from the lab, along with the soon expected NI 43-101 report, will be used to plan the future exploration program of Mooseland. The results are in and now we have to wait for the Company’s next step.
|NSG-24-10||231.00||231.90||0.90||17.57||Significant drill intercepts of greater than 10 grams per tonne. Drill holes NSG 1-10 to NSG 13-10 are from Mooseland’s West zone while drill holes NSG 14-10 to NSG 26-10 are from the East zone.|
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