Drilling on its Beaverdam property may be the reason behind the recent market activity in Alberta- listed Coxheath Gold Holdings Co.
President Michael Riddell says gold-bearing zones have been intersected on its Beaverdam property that appear to be the western and faulted-off eastern extensions of the ore zones currently being developed by Seabright Resources.
Coxheath’s 22-claim piece of ground in Nova Scotia adjoins the Seabright Beaverdam property on the west side.
A deep hole, collared on Coxheath’s ground, has intersected the Beaverdam ore zones at depths of 1,935 ft and 2,043 ft.
Coxheath believes these intersections, estimated to be 459 ft from the Coxheath-Seabright boundary, confirm the ore zones under development at Beaverdam continue onto Coxheath ground at depth.
Coxheath has also announced it is going underground on its Tangier property where visible gold has been sighted in all 27 holes drilled to date. The property is located south of Seabright’s Beaverdam project.
On Dec 4, Coxheath made waves on the ASE when its shares took a 21 cents leap to $1.55. At press-time Coxheath was trading around the $1.30 level.
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