New Break tests for gold in syenite intrusive at Ontario project – Resource World Magazine

New Break tests for gold in syenite intrusive at Ontario project – Resource World Magazine

New Break Resources Ltd. [NBRK-CSE] has announced the resumption of drilling at its 100%-owned Moray gold project, which is located 49 kilometres south of Timmins, Ont., and 32 kilometres northwest of the Young-Davidson gold mine, operated by Alamos Gold Inc.  [AGI-TSX, NYSE]. Drilling, now underway is part of a planned 10,000-metre 2026 drill program. The company is active in an area where new deposits and new sources of ore are much sought after by a number of operators in the region. The hope is that if New Break can expand the newly discovery Zavitz zone, and find other deposits at Moray, it will attract the attention of major players in the Timmins gold camp. Earlier this year, New Break drilled 3,376 metres in 22 drill holes, with 20 of those drilled in the Zavitz gold zone, yielding further excellent intervals of gold mineralization, the company said. Hole NBR-26-05 returned the best interval in the mafic volcanics of 3.46 g/t gold over 38.6 metres from 82.0 to 120.6 metres. Of possibly more significance, was the fact that drilling delivered gold mineralized intervals in the syenite intrusive. Specifically, hole NBR-26.09 returned 1.31 g/t gold over 8.5 metres from 76.0 to 84.5 metres and hole NBR-26-12 returned 1.13 g/t gold over 7.5 metres from 36.0 to 43.5 metres. The summer drill program is expected to consist of 2,500 metres in a minimum of 11 drill holes with the first two to three drill holes designed to fill in the top of the existing mineralized holes. The company said this is a necessary exercise, both in terms of compiling information required for mineral resource estimation and for internal analysis with respect to open pit economics. The remainder of the drill holes will be collared in the syenite intrusive and drilled back through the contact with the mafic volcanics to specifically test for the extension of the gold mineralization into the syenite. If successful, it is expected that the mineralization will be at a lower grade than the mineralization in the mafic volcanics due to the nature of the host rock. The company said it is worth noting that the Young-Davidson gold mine evolved from a relatively narrow, high-grade vein deposit into one of Canada’s largest underground gold mines when deep drilling demonstrated that the adjacent syenite intrusive hosted extensive disseminated gold mineralization suitable for bulk underground mining. At Young-Davidson, it is the syenite that contains the majority of the estimated gold mineral reserve. “Demonstration of the ability of the Moray intrusive to be widely mineralized, with the potential to host a large gold deposit, will be of greatest interest to a potential acquirer,’’ New Break said in a press release. New Break shares were unchanged at 24 cents on Tuesday and trade in a 52-week range of 44 cents and $0.06.