Treasury Metals Inc. (TSX: TML) has commenced an aggressive, two rig, 15,000m diamond drilling programme at its flagship Goliath Gold Project in north-western Ontario.
The company announced that the initial programme will focus on a 5000m infill drill campaign targeting the conversion of underground “inferred” resource blocks to the “indicated” category within the C Zone East resource area where several significant gold intersections have been found.
The developing high-grade shoot is located approximately 200m east of the main resource area and would be directly accessible via proposed mining development infrastructure. This will allow additional resource blocks to be incorporated into a proposed mining plan that will be part of the upcoming Preliminary Feasibility Study
An additional 5000m programme will drill test select down-dip targets identified in the recent downhole IP Survey, areas identified by recent underground mine scheduling modelling work, and further expansion potential of the high-grade Main Zone and C Zone Central ore shoots down dip.
The company said these targets have the potential to add ounces below the currently defined resources and give potential for additional mined resources in future mining studies.
Part of the final 5000m will be dedicated to exploration drilling of on strike extensions across the full Goliath Property.
The company said the northeast fold nose area, results from the soil gas hydrocarbon programme and follow-up to holes drilled on the far east of the property are of particular interest.
A small portion of the current programme will also be focused on upgrading specific areas of the Main Zone shoots to the “Measured” classification for inclusion as potential estimate ounces for the initial mine life years and for grade control purposes.
Treasury stated that an updated Resource Estimate incorporating all of the new drill results will be completed as part of the Preliminary Feasibility Study at the conclusion of the current programme.