Comstock Metals (CSL.V) has released the assay results from its summer drill program on the QV gold project in Canada’s Yukon Territory. The very first two holes of the program at the VG gold zone were the best hole as hole 18 intersected 45.5 meters of 1.42 g/t gold, with a higher grade interval of 7 meters at 3.58 g/t gold. Hole 19 (the second hole of the program) encountered a similar interval of 51.2 meters at 1.48 g/t gold, which are great intercepts.
Unfortunately the exploration success remained limited to those two holes (which are located the closest to historical drilling from 2012 and 2013 as further step-outs towards the west didn’t really impress. Holes 20, 22 and 23 had to be terminated before reaching the target depth and whilst hole 21 did encounter altered and faulted zones, the ratios of quartz and pyrite mineralization deeper down-hole were lower. Although anomalous gold values were detected, the interval of 4 meters at 0.81 g/t gold clearly doesn’t come close to the longer 45-50 meter intervals in holes 18 and 19.
It looks like it will be tough to expand the resources towards the western end of the VG zone but CEO David Terry says more drilling will be needed to better understand the faulting. Fortunately the VG zone remains open towards the East, and we expect the company to spend most of its time on that part of the VG zone in the next exploration season.