Friday, September 02, 2022
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
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Prospecting and mapping yield results. The work by the company’s prospecting and mapping team is quickly identifying new VMS targets at Scarlet Ridge and Scarlet Valley which has advanced them from areas of interest into drilled targets that are now delivering significant sulfide-bearing mineralized intercepts. Mineralization and hydrothermal alteration are intense and widespread throughout areas drilled to date.
Maiden drilling commences at Scarlet Valley. Maiden drilling is underway at Scarlet Valley targeting extensive surface exposures of a VMS feeder zone including replacement-style sulfide mineralization. Hole SV22-1 was drilled to a depth of 618 meters to enable three-dimensional geologic modeling of favorable horizons for replacement-style mineralization along strike. A second drill has been deployed to help define the extent of this highly prospective area before the onset of winter weather. Management expects to drill nine holes at Scarlet Valley.
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