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Accelerate Resources (ASX:AX8) - Managing Director, Yaxi Zhan (left) - The Market Herald
Managing Director, Yaxi Zhan (left)
Source: Accelerate Resources
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  • Accelerate Resource's (AX8) Rossland Gold Project in British Columbia has yielded a small but encouraging batch of gold assay results
  • The explorer selected 28 samples from its three-hole drill campaign at the project, which returned notable findings of 17.68g/t gold over 1.87 metres including 0.29 metres at 110.1g/t
  • According to Accelerate, the findings support previously identified gold mineralisation, with further drilling expected during the second quarter of this year
  • Accelerate is currently engaged in a binding term sheet agreement with Currie Rose for Rossland Gold, offering the potential to acquire up to 100 per cent following the exploration programme
  • Accelerate Resources shares are currently up 4 per cent, trading at 5.2 cents

Accelerate Resource's (AX8) Rossland Gold Project in British Columbia has yielded a small but promising batch of gold assay results.

All up, three diamond core holes were drilled as part of its campaign in 2020 at the Gertrude Novelty and Mascot targets, returning 28 samples selected for assay testing.

Key findings from RGP20-001 hole at Novelty returned 17.68g/t gold over 1.87 metres from 4.14 metres, including 0.29 metres at 110.1g/t from 4.75 metres and 15.63g/t gold over 4.10 metres from 27.51 metres.

The explorer says results from the hole confirm previous historic drilling identifying gold mineralisation extending over 100 metres and open at depth below 60 vertical metres.

The primary Gertrude target that hosts said historic drilling is set to be drilled during the second quarter of this year.

Further results from the Mascot prospect are still to come, however, the company revealed only minor gold mineralisation has been returned so far. Accelerate indicated further intervals may be selected for assay, noting that sampling to date had been "selective."

Accelerate is currently engaged in a binding term sheet agreement with Currie Rose for the Rossland Gold Project, under which, the parties have agreed to complete a due diligence exploration program, which could allow Accelerate to acquire up to 100 per cent of the project.

Accelerate Resources shares are currently up 4 per cent, trading at 5.2 cents at 1:19 pm AEDT.

AX8 by the numbers
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