| 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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