Ashley Gold Corp. has completed its Phase III drilling program at the Tak Project, finishing 11 diamond drill holes across the target area while surface prospecting exposed a new mineralized target.

The 11-hole campaign comprised seven holes drilled into the resistive body of the Tak quartz-feldspar porphyry, three holes positioned west of the 67Z zone, and a single step-out hole north of the TAK-26-07 collar. Drilling at the Northern Trench Zone was deferred to a subsequent campaign, allowing crews to focus meterage along the strike and eastern horizon of the 67Z.

Concurrent surface work guided by induced polarization data identified a gossan zone northwest of the Northern Trench Zone following the removal of overburden. Ashley Gold awaits grab assay results, including 1A2 fire assay for gold values followed by ICP-MS multi-element analysis, for eight pending samples from the property, including four from the newly uncovered gossan zone and four from areas north of the 67Z.

The core from the Phase III program is undergoing geological logging and cutting. Laboratory results are also pending for four drill holes from the preceding Phase II campaign.

“Phase III has the potential to be our most impactful program yet, with drill data expanding our model of the broader area around the 67Z. The eastern horizon of the 67Z became a focal point of the campaign due to positive visuals. As a result of meterage expenditure along the strike and within the vicinity of the 67Z, NTZ drilling was placed on hold for a future campaign. The Company views this as a positive and calculated move to ensure idle drill move time was minimized during Phase III, with potential to follow-up on the NTZ in a future campaign. Concurrent to drilling, prospecting has revealed yet another compelling target, with additional grab samples now pending.”

— Noah Komavli, President

Read the full announcement: Ashley Gold Corp. Concludes Phase III Program, Shares Visuals, Provides Prospecting Update