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UrbanGold Minerals Inc : Troilus to Acquire UrbanGold Minerals in All-Share Transaction
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UrbanGold Minerals Inc.: UrbanGold Confirms Recent Regnault Discovery, Intersecting Gold in Three New Drill Holes
UrbanGold or the
Company ) is pleased to report the remaining assay results from its 10-hole drill program totalling 2,456 metres on its 100% owned 26,585-hectare Pallador Property (the
Property ) in the Regnault area of the Troilus-Frotet region.
The maiden drill program, executed in two phases, intersected gold in four holes, including visible gold within a quartz vein in hole UPR-21-09, located in the southeast part of the target area. Holes UPR-21-03, previously reported on February 24, 2021, and UPR-21-08, both intersected gold associated with highly magnetic diorites with carbonate alteration. In contrast, hole UPR-21-10 intersected gold within a magnetic low between the two mineralized magnetic highs. All holes drilled in the magnetic highs, including the important 900-metre-long magnetic feature, have intersected significant gold. Best results are shown i
UrbanGold or the
Company ) reports results from the first four of ten core holes (totalling 1,095 metres of 2,452 metres) drilled on its 100% owned 26,585-hectare Pallador Property (the
Property ) in the Regnault area of the Troilus-Frotet region. This drill program targeted an area located immediately south of the Kenorland Minerals Regnault gold discovery (see Kenorland s July 29, 2020 news release). Assays for the remaining 6 holes of the UrbanGold program that were drilled in January 2021, remain pending.
UrbanGold s drilling focused on coincident chargeability and geochemical anomalies in soil consisting of gold and known pathfinder elements. No previous historical drilling was recorded on this portion of the Property prior to the completion of UrbanGold s program. Best results from the first four drill holes include hole UPR-20-03, which intersected 2 g/t gold over 1.8 metres between 175.75m and 177.55m. Mineralization was intersected within a dioritic intrusion and is