A New Gold Discovery in the Abitibi Greenstone Belt of Canada Aldershot
Aldershot Resources (ALZ.V) released results of a recently completed drill program on the Haultain discovery on the Gowganda gold project located 75 kilometres southwest of Kirkland Lake, Ont. Canada.
Highlights included 11.52 metres grading 1.63 grams per tonne (g/t) gold, including 6.21 g/t over 1.08 metres and 5.41 g/t over 1.03 metres.
"The recent drill program has indicated there is a gold system on the Gowganda gold project that merits additional exploration. The work from the previous program is telling us to go deeper and drill along strike along a NW shear corridor around the Annie's Ladder zone," stated Greg Collins, PGeo, chief operating officer of Transition Metals Corp., who is the supervising geologist overseeing the exploration on the property on behalf of Aldershot.
Special Note: This discovery is a short distance from one of Canada's largest gold producing mines the "Young Davidson Mine" which is 100 % owned operated by Alamos Gold Inc ( AGI.T) a major gold producer trading at $10.00 / share on the TSX.
The grades that Aldershot drilled are very comparable to what Alamos is mining at the Young Davidson.
Aldershot Drill Highlights
Drilled (2017) 11.52 m of 1.63 g/t Gold incl. 1.08 m of 6.21 g/t Gold
2.4 g/tover 7.1 m
4.7 g/tover 3.1 m
82.5 g/t over 0.4 m
1.6 g/t over 11.7 m
The Young Davidson Mine owned & operated by Alamos Gold
|ANNUAL OPERATING DATA||2015A||2016A||2017E|
|Production||oz Au||160,358||170,000||200,000 - 210,000|
|Cost of Sales2||US$/oz||$1,162||$1,087||$1,050|
|Total Cash Costs1||US$/oz||$683||$657||$625|
|Mine-Site All-in Sustaining Costs1||US$/oz||$986||$897||$775|
|Proven & Probable Reserves||43,220||2.65||3,687,000|
|Measured & Indicated Resources3||12,531||3.09||1,246,000|