Casa Minerals (TSXV: CASA) has discovered a new zone at its Pitman gold project near Terrace, B.C., 1 km south of the Golden Dragon gold discovery it made earlier this year.
Prospecting, rock and soil geochemical sampling graded as high as 231 grams per tonne silver, 2.83% copper and 6.15% zinc at the Dragon Tale zone over an area measuring 1.4 km by 0.7 km. The zone remains open in all directions.
The company flew a geophysical survey over the project in October 2018 and completed a follow up sampling program in late November 2018. It is waiting for results from both of these initiatives.
While parts of the Pitman property are permitted for drilling, the Dragon Tale zone is not. The company has applied for drill permits at Dragon Tale, and expects to drill, and possibly bulk sample, its project in 2019.
Mixed sulphides at Dragon Tale are exposed along a recently built logging road as well as in "off the road" outcrops.
The company discovered its Golden Dragon zone in August 2018 through prospecting and sampling near the historic Paddy Mac and Gold Dome gold prospects. Some initial rock samples from Golden Dragon graded 574.42 grams gold, 109 grams silver, 0.1% copper, 1.56% lead and 0.23% zinc as well as 268.86 grams gold, 127 grams silver, 0.2% copper, 2.95% lead and 0.04% zinc.
The company has two other B.C. projects, its Arsenault volcanogenic massive sulphide project and its Keaper polymetallic project.
Shares of Casa Minerals are currently trading at 17 ? with a 52 week range of 6 ? to 24 ?. The company has a $6.2 million market capitalization.