(via TheNewswire)
Highlights:
223 soils samples collected completing gaps in the grid as recommended by industry expert Dr.
Jeffery Hedenquist (https://augoldcorp.com/wp-content/uploads/2024/01/Hedenquist_Report.pdfNew zones of gold anomalism coincident with Ponderosa Structural Corridor
2 km trend of moderately -to- strongly anomalous gold geochemistry
Company to display 2022 drill core at
AME Roundup Conference (Vancouver ),January 24 25
2023 Field Work
During 2023, infill soil samples (223) were collected from the central part of the Ponderosa property to fill in gaps between areas of previously defined anomalous gold and arsenic response. This sampling returned anomalous gold values, mostly within the structural boundaries of the newly interpreted Ponderosa Structural Corridor, with samples ranging in value from below detection to 390 ppb gold.
Despite favourable results from the recent soil sampling program and the newly interpreted structural model, the Company delayed plans to carry out further drilling at Ponderosa in 2023 due to the difficult market conditions. It instead elected to adopt a cash conservation strategy. The Company does however plan to continue drill exploration when market conditions improve.
Ponderosa Structural Corridor
Completion of infill soil sampling in the central part of the property provided the final information defining the trace of the Ponderosa Structural Corridor (PSC). The corridor consists of a series of sinistrally offset en-echelon structural segments that trend due north through the central part of the property. The PSC can be traced for approximately 2 km and features continuous and scattered elevated gold and arsenic geochemistry with localized clusters of gold-bearing vein samples along much of the trend (historical surface samples reported up to 46.90 g/t Au and 110 g/t Ag). The PSC ties together most of the known gold-bearing zones on the property and will be the basis for future exploration. (https://augoldcorp.com/wp-content/uploads/2024/01/Structural_Layout_Final.pdf)
Roundup Coreshack Exhibit
Analytical Information
Soil samples collected during 2023 at Ponderosa were located using GPS coordinates and extracted from below the vegetation layer. Samples were delivered to ALS Global in
Qualified Person
All scientific and technical information in this press release has been prepared by
Ponderosa Gold Property
The Ponderosa Gold Property is located 16 km southwest of
Exploration by AUGC and others, notably Westhaven Gold Corp., has identified the potential for gold associated with low-sulphidation epithermal mineralization (quartz-adularia). Examples of this style of mineralization include Hishikari (Sumitomo Metal Mining) and Fruta Del Norte (Lundin Gold).
Rocks of immediate interest in the belt and underlying much of the Property comprise successions of Cretaceous subaerial and pyroclastic volcanic flows which host significant gold mineralization at Westhaven Gold Corp.’s Shovelnose project approximately 20 km southeast of the Ponderosa Gold Property. Geology across the Ponderosa Gold Property claim group is broadly divided into two Cretaceous age volcanic sequences comprising subaerial and pyroclastic volcanic flows of the Pimainus and Spius Formations.
Historical exploration at Ponderosa focused almost exclusively on an in-situ occurrence referred to as “Axel Ridge”, which is characterized by outcropping cryptocrystalline/saccharoidal to crustiform and colloform banded epithermal quartz. A series of trenches were excavated across these outcropping exposures with highlights including2.22 g/t gold over 11.7 m, 1.92 g/t gold over 14.0 m (with 3.03 g/t gold over 8.0 m) and 3.6 g/t gold over 7.0 m. Follow-up diamond drilling of seven holes at
The Ponderosa Gold Property is located within the unceded traditional territory of the Nlaka’pamux People.
Further information on the Property can be found on the Company’s website: https://augoldcorp.com.
Cautionary Note
Neither the
For further information, please contact:
Email: info@augoldcorp.com
To learn more visit: https://augoldcorp.com
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