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MegumaGold Corp set for drill program at potentially exciting Killag property, Nova Scotia

The company holds a package of 107,114 hectares within the Meguma gold district and Killag lies 20 km east of Atlantic Gold’s Touquoy mine

MegumaGold Corp -
Highlight drill assays from earlier this year showed 1 m at 54.2 g/t from 83 m, and 4 m at 4.94 g/t from 67 m

MegumaGold Corp (CSE:NSAU) is poised for drilling at its Killag exploration asset in Nova Scotia in a bid to glean the potential for both bulk-minable and high-grade vein style gold deposits there. 

It comes after a reverse circulation (RC) drilling program by MegumaGold at Killag earlier this year confirmed highly anomalous gold values. 

The company holds a package of 107,114 hectares within the well-known Meguma gold district and Killag lies in Halifax county, around 20 km east of Atlantic Gold’s Touquoy mine.

READ: MegumaGold kicks off exploration at Touquoy West in bid to define drill targets

It has now kicked off planning and site permitting work for drilling at Killag. The area produced over 3,500 ounces of gold between 1869 and 1946 from an average grade of 0.96 ounce per ton, noted the company.

The planned work at Killag marks another step in MegumaGold's systematic assessment of its pipeline of gold exploration projects in Nova Scotia's emerging gold camp.

"We certainly look forward to enhancing our understanding of potential for both bulk-minable and high grade vein style gold deposits on this property," noted Theo van der Linde, president of MegumaGold on Thursday.

Highlight assays from the program earlier this year showed 1 metre (m) at 54.2 grams per ton gold (g/t) from 83 m, and 4 m at 4.94 g/t from 67 m.

Also identified was a corridor of gold anomalism that is coincident with the hinge zone and measures at least 1 km in length and is open to both east and west.

"The presence of gold in the geochemical anomaly east of the 2019 RC drilling is a good indicator of the property's potential to host gold mineralization along the main anticlinal trend over significant distances.

"The company will be scheduling follow-up work for this and other exploration pipeline project areas over the next few months," added der Linde.

Contact the author at [email protected]

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Price: 0.16 CAD

Market: CSE
Market Cap: $15.48 m

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