TORONTO - G2 Goldfields has announced a new, high-grade gold discovery at the W1 zone of the Sandy Lake project in northwestern Ontario. The company has completed six holes totalling 1,980 metres. Four of the holes were drilled in the W1 Zone, and two tested geophysical targets approximately 1.5 km to the west.
W1 Zone Drilling
Hole 19-04 intercepted four zones of quartz veining and pyrite mineralization that contained significant gold intercepts including:
- From 58 metres: 2.4 metres at 3.89 g/t gold;
- From 69 metres: 8 metres at 34.5 g/t gold;
- From 95.8 metres: 1.64 metres at 49.83 g/t gold; and
- From 104 metres: 3 metres of 3.06 g/t gold.
All intercepts reported are core lengths, as true widths have not been determined.
Gold mineralization is associated with silica flooding and quartz vein stockworks hosted within a 46 metres (downhole length) envelope of disseminated biotite / pyrite altered quartz-eye porphyry (QEP).
Additionally, in the W1 Zone, Hole 19-06 drilled through the hinge of a South East plunging syncline, intercepting strong mineralization within the QEP above and below a mafic unit, including:
- From 60.1 metres: 5.8 metres of 4.85 g/t gold; and
- From 83.7 metres: 10.33 metres of 10.92 g/t gold.
G2 Goldfields is earning up to a 70% interest on the W series of claims at the Sandy Lake project from Treasury Metals, located 227 km north of Red Lake.
More details can be found at www.g2goldfields.com and www.treasurymetals.com.
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