Gabbs Project Drilling Delivered Consistent Au-Cu Mineralization

VANCOUVER – P2 Gold Inc. reported on the final seven reverse circulation (RC) drill holes (GBR-067 to 073) initially planned for the Sullivan Zone as part of the Infill and Expansion Drill Program at its Gabbs Project located on the Walker-Lane Trend in Nevada. The Infill and Expansion Drill Program at Sullivan, which comprised 4,120 meters in 24 drill holes, was focused on defining the margins of the Sullivan Zone, which remains open to the east and downdip to the southwest. On completion of the drilling underway at the Lucky Strike Zone, the RC drill is expected to return to the Sullivan Zone for additional drilling to extend the zone down dip. Results from drilling to date continue to confirm the Mineral Resource model for the Sullivan Zone.
Joe Ovsenek, President and CEO, said, “We are pleased with the results of drilling initially planned for Sullivan, which delivered as expected with consistent gold-copper mineralization. Accordingly, we plan to return the drill to the Sullivan Zone to expand the down dip mineralization as we continue to test the boundaries of the zone. A significant number of warrants have been exercised, and we believe we have the funds on hand to complete the Gabbs feasibility study, targeted for completion in the fourth quarter of this year.”
Hole GBR-068 intersected 0.43 g/t gold and 0.19% copper over 71.63 meters from 25.91 meters downhole and also intersected 0.25 g/t gold and 0.20% copper over 38.10 meters starting 97.54 meters downhole. Hole GBR-069 intersected 0.55 g/t gold and 0.34% copper over 60.96 meters starting 28.96 meters downhole, including 12.19 meters grading 1.25 g/t gold and 0.46% copper starting 35.05 meters downhole and also intersected 0.11 g/t gold and 0.18% copper over 33.53 meters starting 89.92 meters downhole. Hole GBR-073 intersected 0.41 g/t gold and 0.23% copper over 70.10 meters from 74.68 meters downhole, including 13.72 meters grading 0.71 g/t gold and 0.25% copper starting 83.82 meters downhole.
The main body of Sullivan Zone mineralization is localized within and below a tabular unit of quartz monzonite underlain by pyroxenite. This mineralization is gold dominant and gives way to copper-gold mineralization in the footwall of the main mineralized body. This deeper footwall mineralization ranges in thickness from 20 meters to 60 meters and with the main mineralized body ranging up to 115 meters thick forms a continuous zone with a combined thickness of up to 175 meters thick.