Vancouver - Contact Gold Corp. (TSXV: C) (OTCQB: CGOL) (the 'Company' or 'Contact Gold') is pleased to report the results from the first 3 drill holes of the ongoing 2020 drill program at the Green Springs gold property ('Green Springs').
To date, 4,941 metres have been completed in 7 core holes and 27 RC drill holes. Results are pending for an additional 31 holes as of the date of this release. A further 2,400 metres of drilling are currently planned for the remainder of 2020 at Green Springs.
Echo Zone Drill Highlights
2.18 g/t oxide Au over 28.9m in hole GS20-02, 91% Cyanide recovery o Including 3.7 g/t Au over 15.2m
GS20-02 extends gold mineralization intercepted in GS19-09 eastward by 20m
0.44 g/t oxide Au over 28.9m in hole GS20-03, 90% Cyanide recovery
GS20-03 extends the footprint of oxide gold mineralization at Echo Zone by 75m to the south
'We are excited to start this year's Green Springs program with continued drilling success intercepting oxide gold at the Echo Zone,' stated Matt Lennox-King, CEO of Contact Gold. 'The high grades and thick intervals from the first holes in this year's program present a compelling case for making new discoveries at Green Springs as we continue to expand this year's program to additional target areas. After an initial slow assay turn around, we anticipate having a steady flow of assay results from Green Springs through the end of Q4 and into Q1 2021.'
About the Green Springs Project
Green Springs is located near the southern end of the Cortez Trend of Carlin-type gold deposits in White Pine County, Nevada, adjacent to Fiore Gold's Pan Mine and Gold Rock Project and Waterton's Mount Hamilton deposit. The Green Springs property is 18.5 km2 encompassing 3 shallow past producing open pits and numerous targets that were not mined. Contact Gold's 2020 drill program stared at the Echo Zone and has progressed through the Zulu, Charlie, Alpha, Bravo and Golf Zones.
About Contact Gold Corp.
Contact Gold is an exploration company focused on making district scale gold discoveries in Nevada. Contact Gold's extensive land holdings are on the prolific Carlin and Cortez gold trends which host numerous gold deposits and mines. Contact Gold's land position comprises approximately 140 km2 of target rich mineral tenure hosting numerous known gold occurrences, ranging from early- to advanced-exploration and resource definition stage.
Contact:
Tel: +1 (604) 449-3361
Email: info@ContactGold.com
Cautionary Note Regarding Forward-Looking Information
This news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to the anticipated exploration activities of the Company on the Green Springs property.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: impacts arising from the global disruption by the Covid-19 coronavirus outbreak; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities) and title to properties. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
CONTACT GOLD CORP. 
