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Explorer’s Drilling in Nevada ‘Returns Shallow High Grades and Shows Lateral Continuity’

July 2, 2021 (Investorideas.com Newswire) Initial results from Riley Gold’s maiden drilling and additional sampling at Tokop are presented in a Haywood Securities report.

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In a June 28 research note, Haywood Securities analyst Geordie Mark reported that Riley Gold Corp.’s (RLYG:TSX.V; RLYGF:OTCQB) initial drill results from Tokop “outline a promising start to further defining the nature and extent of gold mineralization in the target area.”

Mark noted that the results are from three core drill holes and new rock sampling from near surface outcrop and historical workings. They were designed to test for “gold mineralization in near surface quartz veins and to confirm prior surface work where known vein sets were mapped over a 1.5km area.”

Overall, “recent drilling shows grade within veins, highlights potential continuity along strike and indicates that gold mineralization is open to depth on this small portion of the project area,” wrote Mark.

Specifically, the first two holes, TKR-21C and TKR-22C, showed “appreciable mineralization” from the target vein near surface, at about 30-40 meters (30-40m) downhole, as well as significant widths, Mark relayed. This indicates that mineralization could potentially be extended at depth and, as suggested by hole TKR-23C, along strike to the southeast.

As for specific assays, Mark indicated, hole TKR-21C returned 9.32 grams per ton gold (9.32 g/t Au) over 2.6m at 46.2m downhole, including 17.2 g/t Au over 1.4m.

TKR-22C demonstrated 1.67 g/t Au over 5.1m at 31.9m downhole, including 3.73 g/t Au over 0.4m and 4.02 g/t Au over 0.8m.

TKR-23C showed 2.62 g/t Au over 5.9m at 102.3m downhole, including 4.98 g/t Au over 2.9m.

Regarding the results of recently obtained rock and grab samples, they included 71.73 g/t Au “in sheeted quartz veins and sheared intrusions,” Mark wrote.

Riley Gold’s current exploration campaign at Tokop, to include drilling of up to 15 more holes, is expected to extend into July.

“High grade gold veins are the primary target for this drilling program, which is employing an intrusion-related gold system targeting strategy on the project area, investigating the potential for gold mineralization to depth, along strike and below cover,” wrote Mark.

Haywood does not have a target price or rating on Riley Gold. The stock is trading at around CA$0.52 per share.

Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Riley Gold. Please click here for more information.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Riley Gold, a company mentioned in this article.

Disclosures from Haywood Securities, Riley Gold Corp., Exploration Update, June 28, 2021

Analyst Certification: I, Geordie Mark, hereby certify that the views expressed in this report (which includes the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer. No part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendations.

Important Disclosures

Haywood Securities, Inc. or one of its subsidiaries has received compensation for investment banking services from Riley Gold Corp (RLYG-V). in the past 12 months.

Haywood Securities, Inc. pro group holdings exceed 10% of the issued and outstanding shares of Riley Gold Corp (RLYG-V).

Research policy is available here.

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