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    C   CA21074F1036

CONTACT GOLD CORP.

(C)
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Contact Gold Corp. Drills 0.7 G/T Gold over 16.7 Metres Beneath the Mine Trend At the Green Springs Project, Nevada

09/15/2021 | 07:40am EDT

Contact Gold Corp. announced the discovery of gold mineralization at the Pilot Shale /Guilmette Limestone contact beneath the historic Mine Trend at the Green Springs Gold Project, Nevada. Hole GS 21-22 returned 0.7 g/t Au over 16.7 metres; the best intercept from this deeper host horizon to date beneath the Mine Trend. The discovery of a significant thickness and grade of gold mineralization in the Pilot Shale beneath the 3 km Mine Trend (drillholes GS 21-22 and 21-55) is proof of concept that the host horizon has been underexplored at Green Springs where prior explorers focused on the overlying "stacked" host horizon in the lower Chainman shale. These holes provide significant proof of concept for Alligator Ridge style of mineralization beneath the historic Mine Trend; a key end member of Carlin Type gold deposits in eastern Nevada; and open up the rest of the Mine Trend for further discoveries in undrilled areas, punctuating a successful 2021 drill program that delivered two new gold discoveries at the outcropping Tango and X-Ray targets. Green Springs is located near the southern end of the Cortez Trend of Carlin-type gold deposits in White Pine County, Nevada, east of Fiore Gold's Pan Mine and Gold Rock Project and south of Waterton's Mount Hamilton deposit. The Green Springs property is 18.65 km2 encompassing 3 shallow past producing open pits and numerous targets that were not mined. Contact Gold signed a purchase option agreement with Ely Gold Royalties ("Ely Gold") to acquire an undivided 100% interest in Green Springs in July 2019. Green Springs is an early-stage exploration property and does not contain any mineral resource estimates as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101"). There has been insufficient exploration to define a mineral resource estimate at Green Springs. The scientific and technical information contained in this news release has been reviewed and approved by Vance Spalding, CPG, VP Exploration, Contact Gold, who is a "qualified person" within the meaning of NI 43-101. Drill intercepts were calculated using a minimum thickness of 3.05 metres averaging 0.14 ppm gold and allowing inclusion of up to 4.57 metres of material averaging less than 0.14 ppm gold for low grade intervals and higher-grade intervals were calculated using a minimum thickness of 3.05 metres averaging 1.00 ppm gold and allowing inclusion of up to 4.57 metres of assays averaging less than 1.00 ppm gold. Gravimetric assays are used for all Fire Assays above 4.00 ppm gold. Cyanide solubility assays are completed on all Fire Assays greater than 0.1 g/t. True width of drilled mineralization is unknown, but owing to the apparent flat lying nature of mineralization, is estimated to generally be at least 70% of drilled thickness in most cases. The Cyanide recovery percentages are equally averaged by interval, and are not weighted by gold content per interval. Quality Assurance /Quality Control consists of regular insertion of certified reference standards, blanks, and duplicates. All failures are followed up and resolved whenever possible with additional investigation whenever such an event occurs. All assays are completed at Paragon; an ISO 17025:2005 accredited lab. Check assays are completed at a second, reputable assay lab after the program is complete.


ę S&P Capital IQ 2021
All news about CONTACT GOLD CORP.
10/18CONTACT GOLD : Announces $3 Million Non-Brokered Private Placement Financing
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10/18Contact Gold Corp. announced that it expects to receive CAD 3 million in funding
CI
09/16CONTACT GOLD : Drills 0.7 gt Gold over 16.7 Metres beneath the Mine Trend at the Green Spr..
AQ
09/15CONTACT GOLD : Discovers Gold Mineralization at Green Springs Project, Nevada
MT
09/15CONTACT GOLD : Drills 0.7 g/t Gold Over 16.7 Metres Beneath The Mine Trend At The Green Sp..
PU
09/15Contact Gold Corp. Drills 0.7 G/T Gold over 16.7 Metres Beneath the Mine Trend At the G..
CI
08/19CONTACT GOLD : Reports Q2 2021 Financial and Operating Results
PU
08/19Contact Gold Corp. Reports Earnings Results for the Second Quarter Ended June 30, 2021
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07/29CONTACT GOLD : Delivers a Second New Gold Discovery at the Green Springs Project, Nevada, ..
AQ
06/29CONTACT GOLD : Delivers a Second New Gold Discovery at the Green Springs Project, Nevada, ..
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More news
Financials
Sales 2020 - - -
Net income 2020 -17,7 M -14,3 M -14,3 M
Net cash 2020 4,90 M 3,96 M 3,96 M
P/E ratio 2020 -0,84x
Yield 2020 -
Capitalization 12,1 M 9,75 M 9,74 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 8
Free-Float 96,1%
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Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 0,06 CAD
Average target price 0,55 CAD
Spread / Average Target 900%
Managers and Directors
Matthew Lennox-King President, Chief Executive Officer & Director
John Eric Wenger Chief Financial Officer, Secretary & VP-Strategy
John Andrew Dorward Chairman
George Gregory Salamis Director
Charlie Davies Director
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