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VANCOUVER - P2 Gold Inc. [PGLD-TSXV; CTIMF-OTC] reported results from the first 12 reverse circulation (RC) drill holes (GBR-001 to 012) of Phase 1 drilling at its Gabbs project located on the Walker-Lane trend in Nevada.
Joe Ovsenek, president and CEO, said, "As anticipated, the first 12 reverse circulation drill holes support our thesis that the historical drilling understated the width and grade of the gold-copper mineralization at Gabbs. Consistent with the diamond drilling results we recently reported, the mineralization intersected in the first 12 RC drill holes is thicker and higher grade than defined by historical drilling. There are another 11 RC drill holes from the Sullivan zone in the lab along with three holes from the Car Body zone and one hole from the Lucky Strike zone. We expect to release the results of these holes before year-end."
Select drill results from holes GBR-001 to GBR-012 include Hole GBD-008 that intersected 0.82 g/t AuEq (gold equivalent - 0.56 g/t gold and 0.23% copper) over 163.07 metres, including 25.90 metres grading 1.50 g/t AuEq (1.20 g/t gold and 0.26% copper).
Hole GBD-010 intersected 1.62 g/t AuEq (1.19 g/t gold and 0.37% copper) over 103.63 metres, including 48.77 metres grading 2.30 g/t AuEq (1.76 g/t gold and 0.46% copper).
Hole GBD-012 intersected 1.51 g/t AuEq (1.00 g/t gold and 0.44% copper) over 102.11 metres, including 38.10 metres grading 2.63 g/t AuEq (1.74 g/t gold and 0.77% copper) and ended in mineralization.
The RC program commenced at the northwest extent of the Sullivan zone, with drill holes GBR-001 to 007 intersecting the footwall lithology where the monzonite host of the high-grade mineralization has been eroded off.