Terragold validation drilling wraps up

Bullion Gold (TSXV: BGD) has completed validation drilling at its Terragold property in Quebec. The stock climbed 13.33% in early trading.

The program drilled a total of 3,909 metres across 32 diamond drill holes, with the objective of validating historical data and known gold intersections within the mineralized system.

“Our focus now turns to the assay results and their integration into the geological model. Shareholders can expect a steady flow of drill results beginning in September,” said Bullion’s CEO and president Simon Britt.

Located about 12 km south of the municipality of Senneterre, Quebec, Terragold’s main mineralization zone was discovered in the early 1960s. Over the following few decades, drilling took place at strike length of more than 2 km to a depth of about 250 metres. A historical 237 kg bulk sample grading 3.64 grams of gold per tonne confirmed the presence of gold mineralization at surface. Since 1984 limited exploration has occurred on the property. 

Shares in Bullion rose 10¢ to 85¢ apiece Wednesday morning in Toronto. The company's market cap sits at $10.04 million (US$7.49 million).