Exceptional Thickness And Oxidation Reported At The X-Ray Zone

VANCOUVER – Contact Gold Corp. reported on the drill holes completed in the 2022 step-out drill program at the Green Springs oxide gold project.  Results for the remaining 16 holes drilled, from the Tango Zone are pending. Most recent X-Ray Zone drill highlights: 1.95 g/t Au over 41.15 meters, from a depth of 15.24 meters, in drill hole GS22-04, including: 3.71 g/t Au over 15.24 meters; and 0.58 g/t Au over 51.82 meters, from a depth of 13.72 meters, in drill hole GS22-21, including: 1.21 g/t Au over 3.05 meters. These results further extend mineralization to the west and southwest from the 2021 discovery holes at X-Ray, and reinforce the high-quality of the X-Ray discovery, building on results from the current program.  

The X-Ray target remains wide open for expansion, especially to the east, south and west.  X-Ray is near-surface, well oxidized, with exceptional grades and thicknesses.  Gold mineralization at the X-Ray Zone is characterized by strong grades, oxidation and continuity, and is hosted at the lower Pilot Shale contact with the underlying Guilmette limestone.  The Pilot Shale is an important regional host unit in eastern Nevada, and is host to the Pan Mine and Alligator Ridge among others.  

“We are very excited with the results from the X-Ray target this year. The grades, thicknesses and oxidation at X-Ray are exceptional and compare favorably across the state.” said Vance Spalding, VP Exploration. “The X-Ray Zone is wide open for growth to the east, south and west. There are multiple targets of interest, and discoveries to follow-up on at Green Springs.   With the quality of results from X-Ray, we are excited for what the future holds at Green Springs.”