Interview with the Gold-CEO, that the majors HAVE to talk to! - Seite 2

Contact Gold

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ISIN:US21074G1013WKN:A2DTJL

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Your flagship project is called Pony Creek. With your first drill program you delivered really good results. For example, you drilled 2.51 g/t Gold over 47.24 meter. May you explain our readers the potential of Pony Creek and something about the history of the project?

Matthew Lennox-King: Pony Creek was owned by Newmont and Barrick in the late 80s and early 90s when exploration was at its peak on the Carlin Trend. Both Newmont and Barrick were focused on drilling  a particular part of the stratigraphy, the Devils Gate-Webb Formation contact, that was then understood to host all of the gold deposits on the northern part of the Carlin Trend. After drilling numerous short- vertical reverse circulation holes on various fragments of the now consolidated Pony Creek project, and never hitting what they considered to be the right stratigraphy, the property ended up in Allied Nevada’s exploration portfolio in the early 2000s. The project sat dormant for 10 years with Allied Nevada before Waterton bought it out of Allied’s bankruptcy in 2016. A historical resource estimate (2006) was calculated for the Bowl Zone containing 1.4Moz @ 1.5 g/t Au. This resource estimate is historical in nature and does not meet modern guidelines to classify as current.
In June 2017 Contact acquired Pony Creek from Waterton.  Through the remainder of 2017 we delivered a successful drill program, hitting gold in 40 of 42 holes. These results were critical in confirming the Bowl and North Zone could be expanded. The results you have quoted are from the first results of the 2018 program and that interval is the best oxide gold interval drilled on the project to date. These results are very exciting because they were step-out holes to the west and north of previous historic drilling and were focused on a structure that seems to contain higher grade oxide gold mineralization. These early results confirmed our target generation completed in 2017 works and opened up the west side of the Bowl Zone for further expansion of oxide gold mineralization at better grade than had been previously discovered.

Moreover you identified a mineralized zone, called “West Target”. It is a new discovery on the project. May you tell us what you expect from this zone und what will be the next steps. Is there a coherent geological structure?

Matthew Lennox-King: The West Target was defined in early 2018 based on results from the 2017 exploration program. It is a 2km long gold-in-soil anomaly underpinned by CSAMT anomalies and defined at surface by a silicified jasperoid conglomerate. Critically the footprint of the gold anomaly is larger than either the Bowl or North Zone and trends towards GSV’s Jasperoid Wash discovery (2018) that is extensively being drilled. We know from geophysical data there is a coherent north-south structure that is spatially associated with the gold anomalies defined to date and it is likely the same structure that is controlling mineralization at Jasperoid Wash.