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UrbanGold ready for surface geophysics in preparation for drilling at Cressida

Oct 27, 2020

UrbanGold Minerals Inc. and Argonaut Gold Inc. have started a line-cutting and surface geophysics program on the 50-50 joint venture, 8,642.8-hectare Bullseye property in preparation for ground geophysics. The 36.8 km grid will cover most of the Cressida block located approximately 14 km southwest of the former producing Troilus Gold-Copper mine and 100 kms north of Chibougamau, Quebec.

In February 2020, UrbanGold announced results of an initial small drill program consisting of three holes totalling 369 metres where each of the holes had intersected a mineralized gold zone. The wide gold-mineralized zone was originally drilled in the late 1980s at the same time that the nearby Troilus deposit was discovered. No other drilling was recorded thereafter until UrbanGold completed its maiden drill program. The Cressida Zone is estimated to extend over a strike length of 400 metres which remains open in both directions and at depth. Gold mineralization is observed to be associated with disseminated sulphides, principally pyrite. 

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