Jiulian reports big hit at Big Kidd
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Jiulian reported a 541m intercept from 6m grading 0.41g/t gold-equivalent, or 0.28g/t gold and 0.09% copper, noting there was insufficient data at this time to state the true thickness and the gold values were uncut.
It said the result, at 221.8 gram-metre/tonne, was better than the best historic intercept of 116m at 0.96g/t Au-eq, which equated to 111.36g-m/t.
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Alkane maps own path to world-class critical metals producer
SPONSOREDalkane resources
Western Atlas drill-ready in Nunavut
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How to monitor and manage your Tailings Storage Facility
SPONSOREDisometrix
The junior has drilled eight holes so far at its 4,056ha property near Merritt after receiving drill permits in December.
"All holes drilled to date have intersected appreciable widths of gold-copper porphyry style mineralisation and alteration within the Big Kidd Intrusive Breccia and surrounding Nicola Volcanics," Jiulian said.
It has pointed out Nicola Mining operates a toll milling facility at the historic Craigmont copper mine 31km away.
Jiulian returned from the NEX Board to Tier 2 of the TSX Venture Exchange in October.
It had working capital of C$1.17 million (US$0.87 million) at the end of November then raised $150,000 (US$112,000) for exploration in a December placement at 10c per flow-through share.
Its shares ranged from 2-18c last year and they lost 2c or 18% yesterday to close at 9c, capitalising it about $2.8 million.