An exploration company focused on southern British
Columbia releases its first drill results.
Jiulian
Resources Inc. (JLR:TSX.V) reported the results from the first two diamond drill holes at its Big
Kidd property, which is located near Merritt, in southern British Columbia.
According to the company, "all holes to date have intersected appreciable
widths of Au-Cu porphyry style mineralization and alteration."
The project is just nine kilometers northeast of Westhaven Venture's
Shovelnose gold project, which has reported drill results as high as 39.31 grams per tonne
gold over 12.66 meters.
Hole BK-19-002 returned 0.41 g/t gold equivalent, consisting of 0.28 g/t
gold and 0.09% copper over 541 meters.
The company noted the following highlights:
- All holes drilled to date have intersected appreciable
widths of Au-Cu porphyry style mineralization and alteration within the
Big Kidd Intrusive Breccia and surrounding Nicola Volcanics;
- 2019 drilling has successfully expanded the mineralized
zone to the north, south, and at depth in all directions;
- BK-19-002's highlight intercept (541m x 0.41g/t AuEq =
221.8 gram-meter/tonne), significantly exceeds the best historic
intercept on the property (116.0m x 0.96g/t AuEq = 111.36 gram-meter/tonne
from hole DDH97-05);
- Current drill hole BK-19-009 is underway and it is
designed to test the system at depth below all previous drilling to
date.
So far, Jiulian has drilled more than 3,500 meters in eight drill holes.
The ninth hole, BK-10-009, is currently being drilled 50 meters south of hole
4; the company notes the hole is "designed to test the Big Kidd Breccia
to depths beyond all previous drilling on the project."
In March, Jiulian announced it was expanding its phase 1 maiden drill
program.
Scott Dorion, qualified person and director for Jiulian, stated,
"Given what we have observed in these initial drill holes, we are expanding
our maiden drill program to better define the extent of what appears to
potentially be a widespread alkalic Au-Cu porphyry system."
Jiulian Resources noted that the Big Kidd property has a "network of
gravel roads, LTE cellular service and a high-voltage power line running
across it."
The company has about 31 million shares outstanding and a market cap of
approximately $3.4 million. Its neighbor Westhaven Ventures has around 88
million shares outstanding and a $75 million market cap. Its stock saw rapid
appreciation after the company announced a discovery drill hole in October
2018.
[NLINSERT]
Disclosure:
1) Patrice Fusillo compiled this article for Streetwise Reports LLC and
provides services to Streetwise Reports as an employee. She or members of her
household own securities of the following companies mentioned in the article:
None. She or members of her household are paid by the following companies
mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors
of Streetwise Reports: None. Click here
for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not
of Streetwise Reports or its officers. The information provided above is for
informational purposes only and is not a recommendation to buy or sell any
security.
4) The article does not constitute investment advice. Each reader is
encouraged to consult with his or her individual financial professional and
any action a reader takes as a result of information presented here is his or
her own responsibility. By opening this page, each reader accepts and agrees
to Streetwise Reports' terms of use and full legal disclaimer.
This article is not a solicitation for investment. Streetwise Reports does
not render general or specific investment advice and the information on
Streetwise Reports should not be considered a recommendation to buy or sell
any security. Streetwise Reports does not endorse or recommend the business,
products, services or securities of any company mentioned on Streetwise
Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers,
employees or members of their families, as well as persons interviewed for
articles and interviews on the site, may have a long or short position in
securities mentioned. Directors, officers, employees or members of their
immediate families are prohibited from making purchases and/or sales of those
securities in the open market or otherwise from the time of the interview or
the decision to write an article until three business days after the
publication of the interview or article. The foregoing prohibition does not
apply to articles that in substance only restate previously published company
releases.
