Red 5’s King of the Hills drilling tops Feb. 3-10 gold assays

BY HENRY LAZENBY

Our TNM Drill Down features highlights of the top gold assays of the past week. Drill holes are ranked by gold grade x width, as identified by our sister company Mining Intelligence. (www.miningintelligence.com).

This week’s best drill assays come from Australia and Canada. Red 5 (ASX: RED) announced on Feb. 7 that hole KHRD0868 at the King of the Hills project had returned 50.5 metres grading 15.9 grams gold per tonne from 143.5 metres depth for a width x grade value of 803. The underground drilling is part of an extension and grade-control drilling campaign that will inform the 2023 and 2024 mine plans. The deposit forms part of the company’s Eastern Goldfields gold mining hub operations in Western Australia. The drill program further defined current ore reserves and identified new targets for potential resource extensions. Resource definition and grade control drilling completed in 2022 focused on the eastern contact below and adjacent to current underground mining areas. According to Red 5, the Regal and the Eastern Flank areas represent a significant mining area for its underground mining scenario from 2024.

TNM DRILL DOWN Top gold assays of the week

Snowline Gold’s (CSE: SGD)

Rogue discovery in the Yukon continues to impress. On Feb. 3, the company reported that hole V-22028 in the Valley Zone had returned 363.5 metres grading 1.4 grams gold per tonne from 17 metres depth, for a width x grade value of 509. The hole is said to have intersected a sheeted quartz vein mineralization zone within the Valley intrusion. The hole was collared 121 metres from the nearest hole and drilled northeast, demonstrating continuity of mineralization within Valley’s near-surface mineralized corridor. Assays remain pending for about 3,474 metres, or 26% of the 2022 Rogue drill program. The hole demonstrates a wide breadth of the mineralized zone and grade continuity between previous holes. Management believes other holes nearby illustrate the potential for more shallow, high-grade gold to be discovered to the southeast.

Catalyst Metals (ASX: CYL) produced the third-best assays of the week from the Four Eagles in Victoria, Australia. Hole FEDD135 returned 5.6 metres grading 53.96 grams gold per tonne from 297.6 metres depth for a width x grade value of 302. According to Catalyst, the drilling represents a breakthrough in its push to find the extensions of the rich Bendigo Goldfield, with drilling showing several high-grade intersections in seven diamond drill cores from the Boyd’s Dam prospect at Four Eagles. The new Iris Zone is about 150 metres beneath the shallow mineralization at Boyd’s Dam, which underpins the current resource estimate. The Iris Zone lies within a near-vertical shear zone striking almost north-south and contains abundant quartz, often laminated with arsenopyrite and native gold. TNM