Announcement Date: 2023-03-06
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Gelum Resources Ltd.
Project name: Eldorado
Location: Canada
Commodities: Gold
Highlight: Drilling results incl. 85.27m at 0.261g/t Au from 175m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: FOR IMMEDIATE RELEASE…Vancouver, BC – March 6, 2023 – Gelum Resources Ltd. (the “Company” or “Gelum”, CSE: GMR, OTCQB: GMRCF) has received assay results for three diamond drill holes (795.5 metres) completed in late 2022 at the Eldorado Gold Project. These holes are the start of a planned 11-hole, 3000 metre, helicopter-supported, diamond-drill programme that will be completed this year (Figures 1 and 8). Drilling intersected gold in all holes, associated with intense alteration (silica and iron-carbonate), and favourable hydrothermal vein textures (quartz-cemented breccias, crack and seal veins, open space filling) and sulphides including fine-grained pyrite and arsenopyrite. These features are associated with high-grade goldbearing structures 20 km south in the district (Figure 8). The best intersection includes 44 metres assayed 0.414 g/t Au (ELD22-03), which contains two close-spaced, higher-grade intervals of 3.26 g/t Au over 0.83m and 3.11 g/t Au over 1.05m.
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