Accelerate’s Rossland marks milestone as exploration begins
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Special Report: Accelerate Resources has marked a milestone at its Rossland gold project in British Colombia, drilling the first hole in the area since the mid-1990s.
Accelerate (ASX:AX8) drilled the first diamond drill hole at the Gertrude-Novelty Prospect within the Canadian project, which is geologically similar and adjacent to the high-grade Le Roi mines which produced more than 2.7 million ounces of gold, 3.5 million ounces of silver and 71 tonnes of copper between 1894 and 1941.
Drilling will now move to the high priority Mascot targets, to follow up recently generated geophysical anomalies.
Accelerate Managing Director Yaxi Zhan said the company was proud to be the first drill at Rossland in more than 20 years.
“We are very excited to commence drilling at the Rossland high-grade gold project,” she said.
“This is a historic time for the project, with this being the first drilling in the area since the mid-1990s.
“The current drill programs have been designed as proof of concepts, forming a key part of the company’s technical due diligence on the Rossland gold project.
“Despite initial weather-related delays and adjustments to the program of work, the experienced technical and operational team in-country have now commenced, and we look forward to reporting results to our shareholders in the coming months.”
The company made a deal to pick up the project, which spans some 3000 hectares of ground previously owned by several smaller companies, in October.
Accelerate’s priority at Rossland will be the Mascot Prospect, located on the eastern flank of the project.
Recent geological mapping has confirmed the Mascot Prospect hosts three primary veins – Mascot, Central and Kapai vein, as well as the secondary North Mascot Vein.
In 1894, three mine adits were developed on the Mascot lodes, and records indicate the Mascot Vein was mined to 120m with grades of up to 9 grams per tonne gold.
Drilling will be prioritised at the Mascot Prospect, with the more elevated Eleanor and Gertrude targets currently on hold due to unseasonal weather conditions and access limitations. Drilling is expected to recommence here once conditions improve.
The Rossland project sits adjacent to and along strike from several historic mines, including the aforementioned Le Roi, as well as the War Eagle and Centre Star gold mines.
Accelerate said historical workings and mine records indicated payable veins from these mines extend into the Rossland project area, and the host rock for gold was present and continuous.
This article was developed in collaboration with Accelerate Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.