As part of a 3051.6m of diamond drilling in 17 exploratory holes, the company intersected two holes PB14-393 and 394 confirming the continuity of gold mineralization between the 04 and 41 deposits.
The new holes indicate that there is potential to merge the two deposits thus increasing the overall resource, the company said.
PB14-393 intersected three separate zones of mineralized graphitic fault and quartz vein material with grades of 2.18 grams per ton (gpt) Au with 5.2gpt Ag from 131.2 to 132.2m, 6.89gpt Au with 60.5gpt Ag from 172.5 to 173.6m and 0.57gpt Au with 13gpt Ag from 254.6 to 257.2m.
It also yielded multiple mineralized horizons with grades of 2.07gpt Au with 2.45gpt Ag from 172.2 to 174m and 2.2gpt Au with 5.2gpt Ag from 182 to 182.5m
As part of metallurgical purposes, two holes totaling 212m were drilled into the 04 deposit.
Drill hole M14-01 graded 13.4gpt Au, 22gpt Ag, 0.82% Pb, 0.20% Cu and 0.98% Zn over 13m, while the drill hole M14-02 intersected 15.2gpt Au, 13.3gpt Ag, 1% Pb, 0.2% Cu and 0.77% Zn over 18.0m.
All metallurgical samples were shipped for analysis at Eastern Analytical in Springdale in Newfoundland and Labrador.
