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Gunpoint Exploration ( (TSE:GUN) ) has provided an update.
Gunpoint Exploration reported initial drill results from its scout program on the newly identified Ranch Trend at the Talapoosa gold project in Nevada, highlighted by a discovery hole returning 47 meters grading 1.1 g/t oxide gold within a broader 100-meter interval. The Ranch Trend, located about one kilometer northeast of the existing Talapoosa resource, has yielded continuous oxide gold mineralization over 1.6 kilometers of strike, suggesting a substantial, previously untested hydrothermal system.
The company’s drilling at three targets along the trend, including the Ranch Vein, CON-32 and CON-45, indicates higher-grade gold along steep structures and lower-grade mineralization in shallow tabular zones, consistent with Talapoosa’s existing geology. Gunpoint plans a second-phase drill program to extend Ranch Vein along strike, test sub-parallel structures, and probe extensions of the main Talapoosa resource, potentially enhancing the project’s scale and supporting a larger open-pit mining concept.
More about Gunpoint Exploration
Gunpoint Exploration Ltd. is a Vancouver-based mineral exploration company focused on advancing its Talapoosa gold project in Nevada. The company targets oxide gold deposits amenable to open-pit mining, aiming to expand its resource base and development potential within a broader district-scale gold system.
Average Trading Volume: 20,884
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$53.79M
See more data about GUN stock on TipRanks’ Stock Analysis page.