07:36 AM EST, 11/11/2024 (MT Newswires) -- GoldMining Inc. ( GLDG ) was at last look up 2.6% in US premarket trade -- it was even higher -- as the company reported Monday additional assay results from the 2024 auger drilling program at its 100% owned Sao Jorge Project in the Tapajos gold district, Para State, Brazil.

Among highlights, it said the auger drilling program successfully identified several new gold-in-bedrock targets, directly underlying large high-tenor surface soil anomalies at Sao Jorge; and that peak assays exceeded expectations for this style of drilling, returning several +1 gram per tonne gold intercepts in shallow weathered bedrock'

GoldMining ( GLDG ) also said at least three of the high-tenor contiguous gold-in-bedrock targets warrant additional follow-up drilling at the William South zone, part of an emerging multi-kilometre trend defined by soil and auger drill anomalies located approximately 2 km north of the Sao Jorge deposit. All targets remain open with potential for further expansion along strike.

It added only 13% of the broad gold-in-soil anomalies across the project have been tested to date with top of bedrock auger drilling. The company currently plans to continue with systematic auger drilling in 2025 with the objective of delineating additional gold-in-bedrock targets and to conduct follow-up deeper drilling with the objective to potentially discover additional gold resources at Sao Jorge.

Tim Smith, Vice President of Exploration of GoldMining ( GLDG ), in a statment said: "To complement the previously reported encouraging gold intercepts from the 2024 Sao Jorge step-out core drilling program, the auger drilling program has yielded several new zones of shallow gold-in-bedrock mineralization. Mounting evidence appears to point to additional corridors of gold mineralization at the Project, which were initially identified by systematic grid pattern gold-in-soil sampling and which now have been confirmed through auger drilling to have a proximal bedrock source. The high-grade gold values intersected by auger drilling have exceeded our expectations and underpin the exploration potential and quality of the broader Sao Jorge mineral system. Several high priority targets have been identified for follow-up deeper drilling with the objective to further expand gold mineralization at the Project."

Price: 18.09, Change: -0.31, Percent Change: -1.68