Blue Jay Gold (JAY.V) has kicked off its diamond drill program on its flagship Steller gold project in the Yukon Territory. The initial activities will focus on the Raca zone which is located just 300 meters away from the Skukum Creek resource. This initial round of drilling will follow up on earlier drilling (with results including 3.23 meters of 581 g/t silver and 0.76 g/t gold and 2.65 meters containing 489 g/t silver and 0.27 g/t gold) which intersected two apparent sub-parallel zones of gold/silver mineralization that remains open along strike and at depth.
This represents just the start of an anticipated 16,000 meter drill program at Steller. A second drill rig is currently being mobilized to take advantage of the drill season. Keep in mind the Steller project has been the subject of 120,000 meters of historical drilling, but the project itself has never been evaluated from a district-scale perspective. That’s exactly what Blue Jay now aims to do, and the data gathered from the 16,000 meter drill program will definitely enhance the understanding of the technical aspects of the project.
We expect the initial assays to roll in at the end of August, and the company’s news flow should be pretty steady from then on.
Disclosure: The author has a long position in Blue Jay Gold. Blue Jay currently is not a sponsor of the website, but could become one in the near future. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
