Austin Gold Corp. (AMEX: AUST) has reached a significant milestone in its exploration efforts at the Stockade Mountain Project in Malheur County, Oregon, with the completion of its inaugural diamond drilling campaign. This development underscores the company's commitment to uncovering the project's promising gold and silver potential, which has been largely unexplored despite previous activities in the 1980s and 1990s.
The Stockade Mountain Project, covering over 6,790 acres through 261 unpatented mining claims, is strategically located about 50 miles southeast of Burns, Oregon, and 90 miles southwest of Boise, Idaho. The area is geologically indicative of a large low-sulfidation hydrothermal system, suggesting the presence of economic gold and silver veins at depth. Austin Gold's recent drilling efforts, totaling more than 2,400 feet across three exploration holes, have begun to reveal the robustness of the mineralizing system, with significant gold grades identified.
Highlights from the drilling include an intercept of 8.19 grams per ton of gold over 4 feet in the initial two holes and a high gold value of 9.32 grams per ton of gold from a 2.7-foot interval in the third hole. These findings not only confirm the strength of the hydrothermal system but also highlight the potential for significant gold mineralization within the project area. For more details on Austin Gold's exploration initiatives, visit https://www.austingoldcorp.com.
Looking ahead, Austin Gold plans to conduct a reverse circulation drilling program to further explore the high-grade vein deposits that may lie beneath the known lower-grade mineralization. This next phase of exploration is crucial for understanding the full potential of the Stockade Mountain Project and could significantly contribute to the junior mining industry. The company's strategic approach, guided by the Lassonde Curve, emphasizes the importance of targeted exploration initiatives in generating value and navigating the risks associated with mining ventures.
