2023-05-
Gold Basin Resources Corporation (TSX-V:GXX) has released preliminary interpretations of 2023 LiDAR survey data, initial prospecting and the commencement of a soil sampling program at its oxide gold project in Arizona.
The company’s geologists have identified more than 230 sites of historical, small-scale mining from LiDAR survey data, roughly 70% of which are undrilled and have no evidence of evaluation by modern exploration techniques.
“The 2023 LiDAR survey enabled Gold Basin geologists to view the district with centimeter-scale topographical precision, leading to the identification of over 230 sites of small-scale historical mining dating back to the late-1800s,” CEO Colin Smith said.
“The vast majority of these sites have never been drilled and have no record of exploration with modern techniques. A preliminary prospecting traverse discovered visible gold in a grab sample collected from an undrilled site 850 meters east of the Cyclopic deposit. We are eager to accelerate fieldwork in this area to assess the potential for near-surface, bulk tonnage, oxide gold mineralization northeast of Cyclopic.”
An initial 500-sample soil geochemistry program is underway, with the goal of advancing multiple greenfields targets to drill-ready stage by the third quarter.
Many of these sites are situated along gold-bearing structures which tie directly into Cyclopic, and host magnetic signatures comparable to the known at-surface oxide gold deposits at Gold Basin.
The first phase of soil sampling consists of 50-meter-spaced sites along 100-meter-spaced lines, with the goal of sampling C-horizon material below the caliche (calcrete) horizon, pursuing geochemical data representative of the underlying bedrock, according to a statement.