CARLYLE COMMODITIES CORP. (CSE:CCC, FSE:BJ4, OTC:DLRYF) (“Carlyle” or the “Company”) is pleased to announce that is has completed its first drill hole of over 1,000 meters at its 100% owned Newton Gold Silver Project near Williams Lake, British Columbia. The Newton Gold Silver Project is a low sulphide epithermal system. The system remains open in multiple directions, within a highly prospective land package that is workable year-round.
The Company’s Phase 1 diamond drill program, which recently kicked off, is intended to test high priority targets with aims of increasing both tonnage and ounces of the Company’s current National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) pit-constrained inferred mineral resource estimate (for further information, see the technical report entitled “Technical Report on the Updated Mineral Resource Estimate for the Newton Project, Central British Columbia, Canada” dated effective June 13, 2022, available on www.sedar.com and at www.carlylecommodities.com (the “Technical Report”)). The initial focus tested a key zone of felsic volcanic host rock that is outside of the current pit-constrained inferred mineral resource estimate with the intention of discovering a new zone of mineralization. The initial target’s main objective is to test continuity of the well mineralized main felsic domain, which remains open at depth below approximately 500 meters from historical drilling. Carlyle successfully completed this first hole by drilling to a depth of 1,001 meters directly through the current inferred resource and extending to untested sections of the felsic domain at depth. Visual reports indicate that much of the host rock encountered throughout the entire 1,001 meters of drill length encompasses the felsic volcanic unit, which historically hosted much of the gold and silver mineralization within the current inferred resource (see the Technical Report for further information).
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Mr. Jeremy Hanson, VP Exploration stated: “We are thrilled to have completed this first deep drill hole, testing depths never seen at Newton. Our modelling indicates several mineralized felsic domains expanding outside of the current inferred resource with potential for discoveries of new zones of mineralization. This initial hole tested beyond the depth of the current inferred resource by approximately 500 meters, most of which cut through the targeted felsic volcanic unit host rock.”
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