en.Wedoany.com Reported - 49 Metals has encountered more high-grade gold in drilling at its Gold Hill Project in Nevada, with a drill hole extending a feeder structure and intersecting 6.1 meters at 5 g/t gold within a broader mineralized interval. Hole DRC#16 intersected mineralization at 268.2 meters downhole, with a 15.2-meter interval grading 2.4 g/t gold, and the hole remains in mineralization at its end. The hole is located approximately 40 meters along strike from a previously reported high-grade intersection, where Hole DRC#9 returned 27.4 meters at 8.3 g/t gold from 221 meters, including 9.1 meters at 21.9 g/t gold from 224 meters.
49 Metals (ASX:49M) stated that the high-grade intervals in both holes are interpreted to be the same feeder structure, which remains open in all directions. Hole DRC#16 may yield more gold, as only assays from 259.1 meters to the bottom of the hole over a 24.4-meter interval have been received, covering the interpreted feeder structure. Assay results for the remainder of the hole are pending.
CEO Phil Carter said that Hole DRC#16 confirms the continuity of the high-grade feeder structure discovered in Hole DRC#9, and importantly, indicates that this mineralized corridor extends along strike and remains open in all directions. While the grade characteristics differ from those of Hole DRC#9, the results confirm the continuity of the interpreted feeder structure, further enhancing confidence in the geological model. With assays from nine additional holes still pending, the company continues to gather the necessary geological evidence to better understand the size, geometry, and controls of this new discovery.
49M believes that the coherent high-grade feeder zone identified in Holes DRC#9 and DRC#16 supports its view that the currently defined mineralization represents only a portion of a larger mineralized system. The Gold Hill Project is also increasingly exhibiting many characteristics associated with large epithermal gold systems, such as historically extensive lateral and vertical mining areas, abundant high-grade rock chips, and large-scale geophysical anomalies. In addition to the results from Hole DRC#16, the company has received further assay results from the Adit Zone, including Hole DRC#11 intersecting 9.1 meters at 1.2 g/t gold from 27.4 meters, and Hole DRC#10 intersecting 3 meters at 0.9 g/t gold from 45.7 meters. While further work is needed to better define the controls and geometry of mineralization in the Adit Zone, the contact zone with the Oddie Rhyolite is emerging as a potentially important structural conduit for mineralizing fluids.
At the new Brougher Zone, approximately 600 meters north-northwest of the Adit Zone, Hole DRC#12 encountered three mineralized structural zones. Best results include 4.6 meters at 1.7 g/t gold from 36.6 meters; 3 meters at 1.2 g/t gold from 111.3 meters; and 16.8 meters at 0.7 g/t gold from 123.4 meters, further demonstrating widespread gold mineralization and alteration at the Gold Hill Project. Initial assay results from drilling at the Sealy Ridge prospect have also been received, with Hole DRC#13 intersecting 1.5 meters at 3 g/t gold from 22.9 meters, and 4.6 meters at 0.5 g/t gold from 134.1 meters. This shallow intersection is located near the contact zone between the Oddie Rhyolite and the Siebert and Fraction tuffs, further supporting the potential importance of this contact as a control on high-grade gold mineralization.
With the initial reverse circulation drilling program (22 holes totaling 7,500 meters) now complete, the company is awaiting results from the remaining nine holes. Once these results are received, the company plans to integrate the new drilling, structural, and alteration data into its geological model. 49M will also evaluate the geometry of mineralization within the Adit Zone and prioritize targets for follow-up drilling in the fourth quarter of 2026.
