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1911 Gold Corp (OTCBB: AUMBF) Announces Strong Assay Results

Scott Birndorf

The continued rise in the price of gold and the record levels that have been hit in recent years have brought gold exploration stocks onto the picture. One of the companies that could be worth tracking at this point is 1911 Gold Corp (OTCBB: AUMBF), which made a key announcement yesterday.

Strong Results

The company hit the news cycle yesterday after it made an announcement with regards to the assay results from the 13 drill holes related to the surface exploration initiative currently in progress at the True North Project. The project in question is situated on the Rice Lake Gold Property, which is 100% owned by 1911 Gold Corp and located in Manitoba, Canada. The company announced that it intersected up to 21.80 g/t gold over 0.50 meters in 6.46 g/t gold over 2.20 meters following the drilling activities at the property.

Further Information

However, perhaps more importantly, the company also announced that it would also work on a second drill rig, and the process had already been mobilized. At this point, the 1911 Gold Corp was drill testing the extensions in question at the target in San Antonio West.

CEO Comment

Shaun Heinrichs, President & CEO, stated, “This latest discovery is exciting not only because it is near the mine and located within the same host rock unit that contains the prolific San Antonio zone, but also because the target is within the L-10 shear zone that hosts over 100,000 ounces where it intersects the shoreline basalt unit to the east. Our models also indicate that the L-10 shear zone extends to depth and contains the larger 710-711 vein resource, a step-out discovery on the “26 Level” in the True North mine. This is over 1,000 meters below the surface, highlighting a large target zone between the near-surface mineralization intersected in these drill holes and the mineral resources at depth. Using these results and historical drilling data in the area, Michele and his team have designed a follow-up program to test for extensions of this mineralization along strike and to depth.”