Elevation Gold Intersects 100.58-Meter-Thick Zone with Average Grade of 0.50 g/t Gold in the Reynolds Pit Area West of Active Mining and Provides Update on Greenfields Core Drilling Program

Three holes were drilled from a single drilling platform in a north-south fan immediately west of the West pit (See Figure 3: cross-section through Mordor area showing recent drill results).  All three holes intersected gold mineralization, both near-surface and at depth.  This drilling is intended to extend the West pit westward as mining progresses down the hillside.  For details on drillholes and significant intersections see Table 1, highlights include:

• 7.62m grading 0.69 g/t Au, 0.46 g/t Ag, and 3.05m grading 0.38 g/t Au, 1.50 g/t Ag and 19.81m grading 0.38 g/t Au, 0.89 g/t Ag (AR22-642R)
• 7.62 m grading 0.56 g/t Au, 0.76 g/t Ag, and 6.10m grading 0.88 g/t Au, 3.38 g/t Ag, and 54.86m grading 0.38 g/t Au, 0.75 g/t Ag, including 7.62m grading 0.62 g/t Au, 1.52 g/t Ag, and including 4.57m grading 1.15 g/t Au, 1.07 g/t Ag (AR22-643R)

Reynolds Pit

In the early 1990's Reynolds Metals drilled several holes in this area.  The holes were drilled vertically and only reached depths of approximately 122 meters.  Most of these holes intersected low-grade gold mineralization associated with hanging-wall stockworks veining.  Elevation's Mine Plan of Operation that was approved in March 2020 includes a permitted mine pit and stockpile in this area.  This discovery could extend Elevation's active mining area more than 500 meters to the west.

Elevation's program consisted of seventeen inclined holes (up to -45 degrees), drilled both to the north and the south, perpendicular to the structures hosting gold mineralization.  This drilling has been quite successful with most holes intersecting thick zones of gold mineralization associated with the south dipping Moss vein structure and hanging wall stockworks.  A previously untested north dipping vein and stockworks structure approximately 150 meters south of the Moss vein structure was also tested.  New drilling results indicate this structure could host vein and stockworks zones up to 80 meters thick (true width) with gold grades as high as 0.92 g/t over 10.67 meters (AR22-656R).  (See Figure 4 for a close-up map of the area with the Moss vein structure and the newly tested north dipping vein and stockworks structures labeled).  (Figure 5 displays an accompanying cross-section through the Reynolds Pit area with updated drill results).  Assay results for eleven of the seventeen holes have been received.  See table 1 for drillhole details and significant intersections, highlights include:

• 92.96m grading 0.46 g/t Au, 1.76 g/t Ag, including 16.76m grading 1.32 g/t Au, 3.68 g/t Ag (AR22-648R)
• 100.58m grading 0.50 g/t Au, 1.93 g/t Ag, including 4.57m grading 2.23 g/t Au, 5.73 g/t Ag, and including 6.10m grading 1.09 g/t Au, 2.85 g/t Ag (AR22-654R)
• 108.20m grading 0.36 g/t Au, 2.94 g/t Ag, including 10.67m grading 0.92 g/t Au, 4.01 g/t Ag, and including 6.10m grading 0.82 g/t Au, 9.73 g/t Ag, and including 3.05m grading 0.92 g/t Au, 10.10 g/t Ag

ROM Pad Ramp

Two RC holes have been completed in the area between the crusher and the Center pit.  These holes are designed to test the shallow area between the areas and were drilled to depth to the deeper extents of the Ruth and Moss veins in this area.  Samples have been shipped to an independent laboratory for testing, and assay results are expected in Q2 2023.

Table 1: Assay Results from Elevation's Recent Near Mine Exploration Drilling at the Mordor, Reynolds Pit and ROM Pad Ramp Areas

Project	Location	Drillhole	Az/Dip (Degrees)	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	AuEq (g/t)
Mordor/West Pit Expansion	Mor-W1	AR22-642R	010/-65	1.52	9.14	7.62	0.69	0.46	0.70
		and		62.48	65.53	3.05	0.38	1.50	0.40
		and		138.68	158.50	19.81	0.38	0.89	0.39
		AR22-643R	010/-80	0.00	7.62	7.62	0.56	0.76	0.57
		and		54.86	60.96	6.10	0.88	3.38	0.93
		and		129.54	184.40	54.86	0.38	0.75	0.39
		including		131.06	138.68	7.62	0.62	1.52	0.64
		and including		176.78	181.36	4.57	1.15	1.07	1.16
		AR22-646R	190/-45	1.52	4.57	3.05	0.40	0.80	0.41
		and		22.86	28.96	6.10	0.28	0.53 Werbung Mehr Nachrichten zur Elevation Gold Mining Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 04.05.24 - wallstreet:online ... Dividenden-Überflieger: Diese sichere Aktie punktet mit einer der höchsten Dividendenrenditen 04.05.24 - XTB GOLD: Gefahr von weiteren Rücksetzern steigt! 04.05.24 - Jörg Schulte Es geht wieder los…: Uranpreis explodiert nach Konsolidierung wieder! Die nächste Welle des neuen Superzyklus startet! InnoCan Pharma    Multi-Milliarden-Wert in diesem Pennystock?! weiterlesen» Anzeige wo-site-teaser-box-16836_site-teaser-box_2024-05-04_09%253A00%253A00_2024-05-05_09%253A00%253A59