Osprey Gold Development Ltd. (TSX-Venture:OS) leaped Tuesday from its Monday closing perch, on the tail of further results from its ongoing 2018 Nova Scotia-based exploration program underway at the Caribou Gold Project. Caribou is about 80 kilometres northeast of Halifax.
These results provide continued evidence of lower grade disseminated mineralization within the host sediments, around the historically sampled high-grade veins.
The richest intercept reported 70.57 metres ("m") of 1.58 grams per tonne gold ("g/t Au"), or 0.80 g/t Au if utilizing a 70 g/t Au grade cap.
Osprey also enthused that seven holes were sampled from four key areas for a total of 395 samples submitted for analysis. Mineralization was identified within host rock sediments in all seven holes.
Osprey President Cooper Quinn was quoted thus, "These results continue to support our thesis that there is significant disseminated mineralization at Caribou, in addition to the high grade stockwork systems, and veins.”
OS shares triumphed 1.5 cents, or 33.3%, to six cents as the clock approached noon ET on Tuesday, on monster volume of 3.1 million shares.
