en.Wedoany.com Reported - 49 Metals has discovered high-grade gold mineralization at its Gold Mountain project in Nevada, which the company believes may represent a feeder structure within a larger epithermal system.
A single reverse circulation hole, designated DRC#9, intersected two broad zones of oxide-hosted gold mineralization. The upper zone returned 25.9 meters at 1.4 grams per tonne gold from 158.5 meters depth; the deeper zone returned 27.4 meters at 8.3 grams per tonne gold from 221 meters depth, including a 9.1-meter high-grade interval at 21.9 grams per tonne gold from 224 meters depth.
According to 49 Metals (ASX:49M), the significance of DRC#9 extends beyond high-grade gold mineralization. CEO Phil Carter stated that they are very pleased and excited with the results from DRC#9, which appear to represent a major breakthrough in understanding the Gold Mountain system, with the deep high-grade mineralization potentially representing a feeder structure within a larger epithermal system. Management indicated that this hole may represent the first intersection of a rich feeder structure, providing an important vector toward the high-grade core of the Gold Mountain mineralized system. The structure remains open at depth and in all directions, with follow-up drilling being planned. Management added that the deep zone is located at approximately 200 meters vertical depth, but only 120 meters below the natural surface topography.
DRC#9 was collared at the same pad as the previous DRC#8 hole in the Adit zone, which returned 33.5 meters at 1.1 grams per tonne gold from 182.9 meters depth, including a 1.5-meter interval at 4.8 grams per tonne gold from 193.5 meters depth. Both holes intersected broad zones of oxide-hosted mineralization, supporting 49M's interpretation that the Adit zone may host a significant mineralized system rather than isolated bonanza-grade shoots. Management noted that feeder structures in epithermal gold systems represent the main conduits for mineralizing fluids. The recognition of a potential feeder structure at Gold Mountain enhances the exploration value of the project while providing clearer geological targets for future drilling.
Drilling at Gold Mountain is ongoing, with 13 reverse circulation holes completed to date and assay results pending for an additional four holes. Other recent gold discoveries from the first eight holes of this drilling program include: 7.6 meters at 2.5 grams per tonne gold and 18.2 grams per tonne silver from 51.8 meters depth in the Monte Christo zone. Another hole at Monte Christo returned 4.6 meters at 7.1 grams per tonne gold and 121.8 grams per tonne silver from 82.3 meters depth. Going forward, 49 Metals plans to integrate new drilling, assay, alteration, and structural data into the Gold Mountain geological model, assess the geometry and continuity of mineralization in the Adit zone, and prioritize follow-up drilling targets.
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