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First Holes drilled at the Maly Patom Project in Russia Featured

Kopy Goldfields AB commenced a drilling program at the Maly Patom ("Northern Territories" or "NT") exploration project. The exploration program targets gold discoveries at one to three previously identified gold anomalies and so far, six holes have been drilled with sulfide mineralization identified in several samples and two samples containing visible gold grains.


In early September, Kopy Goldfields commenced drilling within the Maly Patom area. The exploration program will focus on three previously identified gold anomalies, starting with the Zhelanny target and then proceeding with the Alemakitskiy targets. The program includes 4,500 m of core drilling and trench sampling, followed by logging and assay testing. In addition, an aerial geophysical survey of 50 km2 will be conducted covering Zhelanny, Alemakitsky and other sites.

The drilling was started on the Zhelanny target, which is located within the Gorbylyakh license. So far, six holes have been completed for a total of 854 meters. Average hole depth is 150 m. In addition to drilling, 1,347 m of trenches have been dug. All trenches encountered permafrost. In the first trench, #143001, three mineralized zones were discovered, each 15-20 meters wide, which were confirmed later in other trenches. Along trench #143001, the first drill profile was completed and sulfide mineralization was identified in many core samples. Two core samples contained visible gold grains. Assay test results for these samples are expected in early October.

Historic exploration and data show great potential

The Zhelanny target was initially identified by Kopy Goldfields during the review of historic exploration and mining data and later confirmed by the Company's geochemical surveys in 2016-2017. Historic explorations have shown an up to 7 km long zone of sulfide mineralization with gold grades up to 3 g/t. Historic exploration trenches and shafts crossed the anticline fold structure close to the hinge zone represented by dark-grey colored slates and sandstones. The axial fold plane dips northeast. Along the fold axis, a schistosity zone and pyrrhotite/pyrite stringer-porphyry type mineralization was evidenced. The zone's outcropping is 150 m wide. Out of some 60 historic trench and shaft samples collected from the target, 70% contained gold of varying grades.

Initial exploration by Kopy Goldfields identified a gold anomaly

During the soil geochemistry survey of the area performed by the Company in 2017, a gold anomaly with a length of 1,200 m and widths varying from 200 to 600 m was identified. Average gold grade in soil samples was 50 ppb, which was in line with expectations considering wide prevalence of permafrost and swamps in the area. The total area of the gold anomaly is 4.8 km2. Since the anomaly is likely to extend outside the Gorbylyakh license area, Kopy Goldfields applied for and received a neighboring license called Polovinka earlier this year. Provided exploration results from this year are good, further exploration will extend into the Polovinka license area.

As soon as drilling at the Zhelanny target is completed, the drill rig will move to the Alemakitskiy site where we have two gold anomalies to test this season. Our exploration program targets gold discoveries at one to three previously identified gold anomalies.

More information about the program for the Maly Patom project will follow together with regular updates of the exploration results.

Source: Kopy Goldfields

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