Carlyle Commodities (CSE: CCC; OTC: DLRYF) has delivered an updated pit-constrained resource estimate on its 100% owned Newton gold-silver project located in the Clinton mining division of B.C. The resource update was completed by RockRidge Consulting and is NI 43-101 compliant.
Using optimized pit shell constraints, the newly calculated Newton resource came to 42.4 million tonnes averaging 0.63 g/t gold and 3.43 g/t silver for 861,400 oz. of contained gold and 4.68 million oz. of contained silver. These are all categorized as inferred resources.
Commenting on the increased resource at Newton, Carlyle’s CEO Morgan Good said, “These types of figures are encouraging in this market and provide a positive path forward for Carlyle to increase shareholder value through further exploration at the Newton project.”
Covering 24,000 ha of area, the Newton project is host to a large, bulk tonnage epithermal gold deposit that contains a historical resource of 1.6 million oz. gold and 7.7 million oz. silver, estimated at the inferred confidence level. To date, the project has seen nearly 30,000 metres of drilling exploring by its previous owner, Amarc Resources, which explored and developed the historical resource between 2009-12.
Mineralization at Newton occurs within an 800 x 400 metre area defined by drilling to depths of 560 metres, with majority of holes not exceeding 300 metres deep. The deposit remains open in multiple directions. The current and historic inferred mineral resources occupy only 0.5 km2, or 7%, of the area of an underling broad induced polarization (IP) anomaly (totalling more than 7 km2).
Much of the sulphide-bearing alteration zone at Newton, as defined by Amarc’s 2010 IP survey, has not been thoroughly explored. The gold deposit lies within a northwest trending total field magnetic low that extends approximately 500 metres to the northwest beyond the deposit as defined by the densest drilling, to an area where the few exploration holes returned geologically important intersections (over 0.1 g/t gold).
Believing that Newton may represent a major undeveloped discovery, Carlyle acquired the project in late 2020, citing that “past exploration at Newton has merely scratched the surface of its true potential.”
“We believe the Newton project to be a great mineral system, one geologically analogous to the Blackwater deposit owned by Artemis Gold. This resource estimate gives us a great stepping off point as the hydrothermal system remains open in multiple directions and the project contains numerous high priority exploration targets,” Jeremy Hanson, director and VP exploration of Carlyle, emphasized in the latest release.
In terms of alteration types and metal associations, similar comparisons have been drawn with the Prosperity, Brucejack and Snowfields deposits in B.C.
For more information, visit www.carlylecommodities.com.