FULL DISCLOSURE: This is sponsored content for Crossroads Gold.
Crossroads Gold Corp. (TSXV: CRG) has returned gold-in-soil assays of up to 21.8 g/t gold from its Pambula project in southeastern New South Wales, the latest batch from a sampling campaign that has now grown to 1,390 samples.
The results, released Thursday, also included values of 8.4 g/t and 3.4 g/t gold. They follow assays of up to 24.6 g/t gold reported in July. The company said the high-grade hits are spread across several parts of the historic goldfield rather than clustered in one spot.
Anomalous gold turned up at Hidden Treasure, Hidden Treasure North, Pilot Fissure, Britisher and Mt Gahan. Hidden Treasure has produced the strongest grouping so far, with the 21.8 g/t sample joining earlier results of 11.5 g/t and 6.64 g/t gold.
Only 612 of the 1,390 samples have been assayed. Another 114 are at the laboratory and 664 are still being prepared for X-ray fluorescence and gold analysis, leaving a substantial share of the picture outstanding.
“These latest results are excellent by any standard and demonstrate that high-grade gold-in-soil results at Pambula are not isolated occurrences,” said chief executive Rex Motton, who pointed to the emerging distribution and consistency of the gold anomalism as the more meaningful takeaway.
Pambula covers roughly 6 km² of a goldfield that has seen little modern work. Historical production exceeded 40,000 ounces at recovered grades averaging near 30 g/t gold, and only 32 drill holes totalling 2,515 metres have ever tested the ground, the deepest stopping at 271 metres.
A high-resolution LiDAR survey completed earlier this year mapped 122 adits, 115 shafts, 981 shallow prospecting pits and 708 interpreted trenches across the field, giving the company a structural framework to hang the soil geochemistry on.
Infill and extension sampling will follow once the data is fully evaluated. The intersection of the near-vertical Hidden Treasure structure and the shallowly east-dipping Pilot Fissure, estimated at about 130 metres depth, has been flagged as a priority once the maiden drill program is underway.
Crossroads Gold last traded at $0.21 on the TSX Venture.
FULL DISCLOSURE: Crossroads Gold is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Crossroads Gold. The author has been compensated to cover Crossroads Gold on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
