First Vanadium Corp. (FVAN:TSX.V; FVANF:OTCQX; 1PY:FSE) explained in a news release the significance of the results of holes RC20-02 and RC20-03, recently drilled at its Carlin property in Nevada's Carlin Trend. The company previously reported results of hole RC20-01.
Holes RC20-02 and RC20-03 were placed about 1.4 kilometers to the south of RC20-01, in Carlin's target corridor where gold mineralization trends from north to south. The drilling of RC20-02 and RC20-03 was stopped, at 1,160 and 820 feet down, respectively, "due to artesian conditions," the release noted. Regardless, the two holes demonstrated Carlin-style gold system alteration and metal signatures.
They showed elevations of gold, silver, arsenic, mercury and zinc, which were not encountered in RC20-01. The company posits that the mineralization system is stronger in the southern part of the target.
"Results from RC20-01 and now RC20-02 and RC20-03 are providing some sense of dimensions to this large-scale Carlin-type gold system, early on," First Vanadium's geological adviser Dave Mathewson said in the release. "Hole RC20-01 shows a nearly 500m vertical dimension while holes RC20-02 and RC20-03 provide a 1.4 kilometer length."
First Vanadium is continuing to drill the target. "In our efforts to vector to hot spots in the gold system, our current drilling campaign is progressing well, now on hole RC20-06," Mathewson added. When the weather improves, the company intends to deepen RC20-03 with diamond drilling to be able to better manage artesian water.
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