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Leviathan Gold, via Core Prospecting Pty Ltd. Receives High Grade Assay Results, from Initial Phase of Diamond Drilling at the Excelsior Prospect

In This Article:

Leviathan Gold Ltd.
Leviathan Gold Ltd.
  • Highlights include 4.85 meters at 9.0 g/t Au (43.66 gram meters) in hole EH014, 3.13 meters at 56.9 g/t Au (178.23 gram meters), in hole EH017 and 12.68 meters at 9.2 g/t Au, (116.85 gram meters), in hole EH029.

  • A total of 1964.65 meters of diamond drilling over 16 holes has been completed by Core Prospecting Pty Ltd.

  • Drilling identifies mineralized dilational zone opening to the northeast, remaining open along strike and depth.

VANCOUVER, British Columbia, June 25, 2024 (GLOBE NEWSWIRE) -- Leviathan Gold Ltd. (“Leviathan”, the “Company”) (LVX – TSXV, 0GP – Germany) is pleased to announce receipt of full assay results from an initial phase of diamond drilling completed at its Excelsior Prospect (“Excelsior”) pursuant to a Heads of Agreement entered into between Leviathan and Core Prospecting Pty Ltd (“Core”) on July 17, 2023 as subsequently amended on January 16, 2023 (“HOA”). The most prominent intervals among these results are presented in Table 1, and include 4.85 meters at 9.0 g/t Au (43.66 gram meters) in hole EH014, 3.13 meters at 56.9 g/t Au (178.23 gram meters), in hole EH017 and 12.68 meters at 9.2 g/t Au, (116.85 gram meters), in hole EH029. Additional drilling will be required to determine the true thickness of mineralization. Further pursuant to the HOA, Leviathan has received notification from Core of its intention to commence a second phase of diamond drilling at Excelsior. Accordingly, as a result of Core completing the initial phase of diamond drilling it has earned a 40% interest in in a New Tenement to be applied for by Leviathan, subject to the fulfilment of certain further conditions by Core.

A total of 1964.85 meters of diamond drilling over 16 holes has now been completed by Core in a series of generally parallel south-eastward and north-westward oriented fans of drill holes designed to test for continuations of known mineralization (Figure 1).

The purpose of the Core program was to drill beneath and along-structure from intervals previously reported by Leviathan from Excelsior, which include 8.24 g/t Au over 6.63 meters (54.63 gram meters), from 161.95 meters in hole EH003 (press release of April 21, 2021) and 5.40 g/t Au over 11.02 meters (59.51 gram meters), from 84.37 meters in hole EH005 (press release of April 26, 2021). These intervals are believed to represent the down-dip continuation of mineralization observed in historic mine workings, and are characterized by intense quartz veining, visible gold, and enveloping sericitic alteration and base metal sulphides.

Interpretative work on drilling completed to date suggests the presence of a north-eastward plunging mineralized dilational zone consisting of quartz reef and associated splays in which gold is hosted in quartz veins. It may be inferred from the results of drilling, most particularly from hole EH029 that this dilational zone opens to the northeast, in which regard it remains open along strike and depth. This feature will be the subject of further drill-testing.


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