Spanish Mountain Gold Approaches Conclusion of 2024 Exploration Program

3 min read | September 12, 2024 07:12 AM EDT | By Team Kalkine Media

Google News:

Spanish Mountain Gold Approaches Conclusion of 2024 Exploration Program — Image source: Shutterstock

Recent News

Vizsla Silver Growth Story Enters Crucial Development Phase

Groupe Dynamite Share Story Shifts After Margin Gains

Cenovus Energy Growth Plans Put Valuation Back In Focus

Large Cap Dividend Stocks Spotlight Three Canadian Banking Giants

Make Kalkine Media
My Trusted Source

Spanish Mountain Gold Ltd (TSXV:SPA) is nearing the completion of its 2024 Exploration Program at the Spanish Mountain Gold Project in British Columbia. The company has successfully carried out over 90% of its planned 5,000 meters of drilling. The remaining assays are anticipated through the third and fourth quarters of the year.

The recent drilling efforts have targeted several newly identified mineralization zones, which are located both within and adjacent to the pit-constrained resource. This drilling initiative is expected to provide valuable data that may contribute to reducing waste stripping, defining high-grade geological controls, and potentially expanding the project's overall scale.

Spanish Mountain Gold is scheduled to complete the drilling phase by the end of September. Following this, assay results are expected to be released gradually throughout the latter part of the year. The company has emphasized that drilling operations have proceeded according to budget and schedule since the lifting of summer fire restrictions in early August.

CEO Peter Mah expressed enthusiasm about the progress, highlighting that the company has also made strides in environmental sustainability. Collaborating with Hard Rock Diamond Drilling, Spanish Mountain Gold achieved a notable carbon footprint reduction of approximately 70% to 80% by utilizing renewable diesel for drilling equipment. In addition, core logging and sampling have been conducted in alignment with the drilling activities.

The exploration team has completed the relogging of 175 kilometers of core and sampling of 35 geotechnical sonic holes. Assay results from these efforts are expected by early in the fourth quarter.

A new geological model, which will include potential mineralization extensions, is currently under development and will be incorporated into the Mineral Resource Estimate slated for completion by the first quarter of 2025. Phase 1 and 2 of the structural geology reviews, along with 3D modeling, have been finalized. These findings are anticipated to enhance resource modeling capabilities.

Metallurgical test work, including coarse ore flotation, has also been completed. A report detailing new flowsheet options is expected by early Q4.

Spanish Mountain Gold has appointed Ausenco to lead the Preliminary Economic Assessment (PEA) of the Spanish Mountain Gold Project. The PEA, along with a combined NI 43-101 technical report, is anticipated to be completed by the first quarter of 2025.

Additionally, Julian Manco has been appointed as Director of Exploration to spearhead exploration activities at the project. He succeeds Troy Gill, who has departed the company for personal reasons. Manco brings extensive experience in precious metals exploration, and the company looks forward to his contributions to the Spanish Mountain Gold Project

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.