AM Gold (CVE:AMG) reported Monday the second tranche of assay results from this year's exploration program at its Red Mountain property in Yukon, Canada, extending mineralization across a lateral distance of 450 metres.
The company said a new zone of mineralization reported in early September showed it was continuous with the current inferred resource, bringing the area of gold mineralization around and including the current resource, which stands at 1.32 million troy ounces, to at least 800 metres along strike, and 450 metres across.
A total of roughly 7,850 metres of core has been cut from 23 holes drilled east, west, and north of the resource area, the company said, with results from the first five holes, and part of the sixth, reported last month.
Today, the company reported the assays for the remainder of the sixth hole, ICE11045, plus the next three holes.
Highlights included 0.38 grams per tonne (g/t) of gold over 419.4 metres in hole ICE11045, including 0.42 g/t gold over 323.5 metres, and 0.58 g/t gold over 150.5 metres and 0.69 g/t gold over 32.0 metres. The last two intercepts were reported in September.
Meanwhile, hole ICE11046 returned 0.37 g/t gold over 342.9 metres, including 0.60 g/t gold over 55.0 metres.
Vancouver-based AM Gold is focused on developing gold and gold-copper projects in the Yukon and Peru while building a portfolio of pipeline projects in North and South America.
The Company’s Red Mountain gold property is located in central Yukon Territory, approximately 55 kilometres northwest of the community of Mayo in the Tintina Gold Belt. It consists of approximately 3,600 hectares of contiguous quartz claims, 52 of which are held 80% by the company with an option to acquire 100% ownership, and 131 of which are already held 100% by the company.
AM Gold’s Pinaya gold-copper project is located 775 kilometres southeast of the city of Lima, Peru in the Tintaya Gold Belt.