Burin Gold Corp., a junior exploration company, takes pleasure in offering an update on drilling operations at its Hickey’s Pond — Paradise Gold Project located in Newfoundland, Canada.
Diamond drilling operations started on February 3rd, 2022. As of February 27th, 2022, the Company has done 14 holes on the project for a sum of 2,158 m of drilling.
A sum of 3,584 samples (in addition to quality assurance samples) have been gathered for analysis, and out of which, a sum of 1,149 samples have been sawed and accelerated for gold fire assay to Eastern Analytical Ltd. (“Eastern”) in Springdale, NL. The drill holes that have been completed are focused on the Hickey’s Pond showing.
The initial goal of the Company is to document the volume and grade of mineralization of the showing at depths compliant with open-pit mining techniques on 100 m-spaced sections across with the strike of the system, with two to three drill holes per section.
All holes drilled in 2022 till now have sectioned zones of high-sulfidation epithermal alteration consistent with the current geological model for the system of the Company. Hydrothermal alteration types discovered to be gold-bearing in the Company’s early scout drill program in 2020 (for example, quartz breccias, quartz-alunite schists and quartz-hematite breccias) have been sectioned in every hole.
The Company will report assay results once they are delivered and have passed internal quality control review and caution. The Company cautions that, until the results of assays are received, it is not possible to identify whether high-sulfidation alteration in the drill holes — completed to date — consists of gold mineralization or not.
We have completed 2,158 meters of drilling in 26 days since our drill program began, which equates to average production of 83 meters per day, excellent production considering the difficult winter conditions on the Burin Peninsula this year.
David Clark, Professional Geoscientist and Chief Executive Officer, Burin Gold Corporation
Clark continued, “Our partners at RNR Drilling and our crew on the ground have come together quickly and we’ve now reached this milestone of 2,000 m of drilling on the property less than three months after our IPO.”
“I am highly encouraged by the high-sulfidation epithermal alteration we are seeing in drill core, and we have put a ‘rush’ on the initial batches of samples delivered to the assay laboratory so as to be able to share assay results as quickly as we can. Considering current turnaround times at Eastern for ‘rush’ samples, I expect to receive initial assay results in late March and be able to disclose these to the market shortly thereafter,” added Clark.
Drilling operations will be in progress until the spring breakup. After which, drilling will be paused. As soon as the early summer starts, the Company plans to mobilize a second drill for the project and drilling must continue across the summer and fall. The Company intends to drill 10,000 m in 2022, concentrating on Hickey’s Pond as well as assessing the Company’s additional high-priority targets on the property.