UrbanGold Minerals Inc. (UGM:TSX.V) will soon commence a maiden drill program at its Pallador-Regnault project in Quebec's Frotet Gold Belt, the company announced in a news release.
The precious metals explorer awarded the contract to Miikan Drilling in Quebec and secured a rig. UrbanGold plans a minimum 2,000 meter (2,000m) program in an area where no historical drilling has been done.
The company stated that its goal is to extend into its claims the 2-kilometer-long gold system that Kenorland Minerals recently discovered on its property that adjoins UrbanGold's. That discovery included an "intersection of 8.47 g/t Au over 29 meters located further north." UrbanGold will drill test several targets located about 400m south of of the Kenorland discovery, in the northwest part of the Regnault block.
UrbanGold has already delineated its drill targets, all of which include "coincident chargeability and geochemical anomalies in soil consisting of gold and known pathfinder elements," the release noted.
The company's president and CEO Mathieu Stephens said in the release, "We are very pleased to start a drill program in this area where no historical drills holes are known to exist. The lack of bedrock exposure has been challenging, and our team has been able to identify excellent targets in just a few months of surface work."
Read what other experts are saying about:
Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: UrbanGold Minerals. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of UrbanGold Minerals, a company mentioned in this article.
