BULGOLD Inc. (TSXV:ZLTO) has reported the results of mapping, prospecting and historical data synthesis at the BL Vein target within its Lutila Gold Project in the Slovak Republic. The company says fieldwork traced the subvertical vein structure across a near-continuous 2.2km north-south corridor on the eastern side of the North East Block.
The target is located between 1.1km east and 1.7km southeast of drill hole KPDD005. BULGOLD describes the area as having received limited modern exploration, with no exploration along the trend in the last twenty years before the work covered by the announcement.
#Historical drilling identifies gold mineralisation
Historical drilling from 2004 recorded broad, low-grade gold intervals in the BL Vein structure. The reported intercepts include 26.2m @ 0.91g/t Au from 97m in hole KG-BL-1 and 24.3m @ 0.76g/t Au from 51.7m in KG-BL-2.
BULGOLD also said it understands that the highest-grade interval recorded from the deeper KG-BL-3 hole was 0.45m @ 2.21 g/t Au from 191.35m. No further assay information is available for that hole.
A cross-sectional review of the historical drilling identified an approximately 100m-wide zone of brecciated rhyolite containing chalcedonic quartz infill and minor stibnite. The company says the BL Vein has been tested by modern drilling along only a single section line.
#Surface sampling across the corridor
A combined dataset of 62 rock samples collected through BULGOLD and historical programmes averaged 0.56g/t Au, 4.9g/t Ag, 364ppm As and 512ppm Sb across the trend.
BULGOLD said 20 samples returned grades ≥0.40g/t Au. This subset averaged 1.53g/t Au, 13.08g/t Ag, 325ppm As and 445ppm Sb.
Surface materials along the corridor include polymict hydrothermal breccias and quartz vein float boulders. The company also identified crustiform-colloform banding and lattice-bladed silica replacement textures, alongside elevated arsenic and antimony values.
#Exploration history and geological setting
Historical records place the first recognition of quartz veining at the BL target in the 1600s. Small-scale open-pit operations and underground galleries were later developed on the eastern slopes during the 19th and 20th centuries.
During the 1990s, 10 historic diamond drill holes totalling 1,984.3 metres were completed along the eastern flank of the North East Block. BULGOLD said poor core recovery and historical data loss mean that reliable multi-element or gold assay data are not preserved from that programme.
In 2004, three diamond drill holes totalling 770.8 meters tested the BL Vein beneath a surface quartz vein float field. The company is also aware of a small 2006 programme targeting the northern portion of the trend, although only limited gold assay information remains available.
The Lutila Gold Project is positioned between the Kremnica and Banská Štiavnica epithermal vein fields in Central Slovakia. BULGOLD says the project has existing local infrastructure and year-round road access. The company also states that drill pads can be permitted within 3-months.
#Company interpretation and data limitations
President and CEO Sean Hasson said the BL Vein represents a parallel structural target with subsurface thickness identified by historical drilling. He also said the company’s technical review indicates that the underlying boiling zone remains intact and has not been tested by modern exploration methods.
BULGOLD identifies the exploration target as underground, high-grade gold (Au) ± silver (Ag) quartz veins. The company says its current exploration work includes further verification of historical sampling and drilling information.
The historical data were prepared by third parties and have not been independently investigated or analysed by BULGOLD. The company cautions that the information may be unreliable because a qualified person has not completed sufficient work to verify the results, and no independent quality assurance/quality control protocols are known for the historic samples and drill holes.
#About BULGOLD
BULGOLD is a gold exploration company focused on projects in Central and Eastern Europe. It says it controls 100% of the Lutila Gold Project, the Kostilkovo Gold Project and the Kutel Gold Project. Its shares trade on the TSX Venture Exchange under the symbol TSXV:ZLTO.
#Key Takeaways
- BULGOLD reports a near-continuous 2.2km BL Vein corridor at the Lutila Gold Project.
- Historical drilling included 26.2m @ 0.91g/t Au and 24.3m @ 0.76g/t Au intervals.
- A combined 62-sample dataset averaged 0.56g/t Au, 4.9g/t Ag, 364ppm As and 512ppm Sb.
- The BL Vein has been drill-tested along one section line in modern exploration, according to BULGOLD.
- The company says historical sampling and drilling results require further verification and may be unreliable.
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