Citigold hits further high gold grades

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THE DRILL SERGEANT: Citigold Corporation (ASX: CTO) has encountered further gold intersections from a drilling campaign currently underway at the company’s Charters Towers gold project in Queensland.

Drill hole CT9004 returned an intercept of 84.01 metre grams per tonne gold from the C03W Queen West structure.

Citigold said the drilling has confirmed its interpretation of a new, high-grade structure (C38) that is not currently included in the project’s Mineral Resource.

Another intercept was encountered on the C38 structure, which returned a grade of 51.81 metre grams per tonne.

All four drill holes Citigold has drilled in the current program have intercepted the target structure C03W.

 

Map showing the location of the drill holes and intercepts relative
to the planned decline (dashed blue line) and the Inferred and Indicated
C03 Resources and how close the current drilling is to the proposed
decline in the Central area. Source: Company announcement

 

“The drilling has confirmed the interpretation of a new north-dipping structure located parallel to, but to the north of the Queen West and Brilliant structures,” Citigold said in its announcement to the ASX.

“This is a new structure not currently included in the Mineral Resource yet already demonstrated to contain high-grade mineralisation.”

Citigold indicated further drilling will be carried out, which is required to constrain the extent of the structure.

The company claimed the recent drilling has also confirmed the presence a cross reef, referred to as C36, which had been targeted after Citigold had carried out a comprehensive review of historical documentation, previous drilling and a re-interpretation of the structural geometry of the Central area.

“The C36 structure is parallel with the Victory reef that historically produced 216,360 ounces of gold at an average recovered gold grade of 68.11 grams per tonne,” Gitigold explained.

“An intercept in drill hole CT9000 of 11.92 meter grams per tonne suggests that the C36 structure might be an equally high-grade gold producing fracture.”

Website: www.citigold.com