Treasury Metals (TSE:TML) announced Tuesday it intersected high-grade gold on the Central Zone of its wholly owned Goliath gold project, located in northwestern Ontario.
The company is currently focused on three zones at the property - Central, West, and East, though a fourth zone, C Zone, has produced encouraging results.
The best results from this particular set of assays come from drilling on the Central Zone, which tested the area down-dip from the underground development and bulk sampling originally conducted by Teck Exploration in 1999.
Hole TL11-207 returned 6.2 grams per tonne (g/t) gold over 5.7 metres, while hole TL11-213 found 5.5 metres grading 8.7 g/t gold, each on the main zone.
President and CEO, Martin Walter said: "This round of drilling demonstrates the high-grade gold that we have been consistently drilling throughout the year continues at depth at Goliath.
"We are well below the historic underground workings that were constructed by Teck and the area is a natural starting point when we consider future advanced exploration and production scenarios for the project. In addition, the results in this release are from the Central Zone, an area of less dense drilling."
Other notable results include 3.4 g/t gold over five metres in hole TL11-205, and 5.44 g/t gold over one metre in hole TL11-210, each on the Central Zone.
Also in hole TL11-210, assays returned 2.4 g/t gold over 3.4 metres on the C Zone, which is parallel and down-dip to the main Central Zone. Treasury said encouraging results continue to come from this zone.
The current drill program was extended to 50,000 metres of drilling, with results to be incorporated into a revised resource estimate, expected for a fourth quarter release.
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