Gold News

Crosshair begins diamond drilling program

Crosshair Exploration and Mining has begun a 3,750 meter diamond drilling program on the Golden Promise Project in Newfoundland.

This project is home to the Jaclyn Zone, a gold mineralized vein system with a strike length of 750 meters and a depth of 225 meters.

The current drilling program is aimed at "further testing this zone and further expanding it along strike and to depth".

It is designed to expand the higher grade portion of the zone that was previously identified, and firm up resources in the portion of the vein near the surface.

The drilling will include 805 meters of drilling over four holes at Jaclyn North, and a trenching program designed to expose a mineralized gabbro unit, which could host bulk mineable open pit style gold mineralization.

Some of the previous results at the aptly-named Golden Promise include a grade of 20.65 grams per tonne of gold over 1.60 metres, including 55.03 grams per tonne over 0.60 metres.

Golden Promise is a joint venture between Crosshair and Paragon Minerals Corporation.
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