Urbana Corporation's Recent Drill Results
Urbana Corporation (TSX & CSE: URB & URB.A) has announced impressive results from its latest drill program at the Urban Gold Project. This project is located within the recognized mineral-rich region of the Abitibi Greenstone Belt. The recent winter drill campaign comprised 5,226 meters and included 17 drill holes, emphasizing substantial findings that could reshape the understanding of gold resources in this area.
Highlights of the Drill Program
One of the standout results from this program was reported as an intercept of 6.98 grams of gold per tonne (g/t) over a length of 6.0 meters in hole UU-25-12. This specific finding is significant, as it expands the known mineralized zone and demonstrates the potential for additional gold resources. The strike length of the mineral zone has now been extended to about 200 meters and remains open for exploration for a further 300 meters westward.
Historic Context and Drill Targeting
The targeted drill locations are strategically selected based on previous data, including remarkable historical intercepts from the 1980s that featured values of 15.0 g/t over 0.8 meters. Notably, the drill hole UU-25-12 was drilled about 150 meters west of these earlier findings, confirming its commendable performance during this season’s drill campaign.
Upcoming Exploration Initiatives
In addition to integrating these notable drill results, Urbana Corporation plans to initiate a comprehensive surface exploration campaign. This campaign will begin within the upcoming month and target the less explored northern and central sections of the Urban Gold Project. The northern sector, which has never been drilled, is surrounded by significant gold occurrences, including recent finds from Osisko Mining, which reported astonishing grades of 75.8 g/t gold.
Exploration in the Central Sector
The central area of the Urban Gold Project has been historically active since the 1950s, yet it still contains many undocumented gold showings that require further investigation. This upcoming exploration program aims to locate these historical workings, conduct surface sampling, and prioritize targets for a future drill campaign.
The Strategic Advantage of Location
The Urban Gold Project benefits significantly from its strategic location, with convenient road access and proximity to well-established deposits like Goldfield’s Windfall and Bonterra Resources’ Barry deposit. This positioning places Urbana at a competitive advantage within a highly prospective mineralized corridor.
Urbana’s President and CEO, Thomas S. Caldwell, expressed enthusiasm regarding the drill results, stating the presence of a gold-bearing system and stressing that the Urban Gold Project is underexplored relative to its potential. With increased activity in the region by major producers, the company is optimistic about refining their exploration targets further for the next phase of drilling.
Quality Assurance and Protocols
Urbana Corporation employs rigorous standards for quality control and reporting. For instance, all recorded assays come from either one-kilogram screen fire assay or standard 50-gram fire-assaying methods analyzed at ALS Laboratories in Val d’Or, Quebec. Proper protocols ensure that quality assurance and quality control measures are adhered to in compliance with National Instrument 43-101 and industry best practices.
Technical Review and Guidance
The information disclosed in this release has undergone review and approval by qualified personnel, ensuring that all technical aspects align with industry standards. The qualified person overseeing this process is Mathieu Stephens, P.Geo., affirming compliance with necessary regulations.
Get in Touch
For additional inquiries, interested parties can reach out to Elizabeth Naumovski, Investor Relations, at (416) 595-9106 or via email at enaumovski@urbanacorp.com.
Frequently Asked Questions
What are the notable findings from Urbana Corporation's drill program?
The notable findings include an intercept of 6.98 g/t gold over 6.0 meters in drill hole UU-25-12, validating the project’s potential.
What are the next steps for the Urban Gold Project?
Urbana plans to commence a surface exploration campaign targeting the northern and central portions of the Urban Gold Project.
How does the Urban Gold Project's location benefit Urbana Corporation?
The project is strategically positioned between major deposits, allowing for enhanced exploration potential and infrastructure access.
Who is overseeing the technical aspects of the project?
Mathieu Stephens, P.Geo., is the qualified person responsible for overseeing the technical aspects of Urbana Corporation's exploration activities.
How can investors learn more about Urbana Corporation?
Investors can contact Elizabeth Naumovski, as the Investor Relations representative, for further information regarding Urbana Corporation’s exploration efforts and developments.
