Recent drilling, designed to evaluate showings defined by surface prospecting at the Eagle River property near Wawa, Ont., has identified a potentially significant, new gold zone.
River Gold Mines (TSE) reports that six holes have traced the HP vein over a strike length of 30 metres and to a depth of 55 metres. Grades range as high as 14.28 grams over 3.97 metres, 18.11 grams over 1.4 metres and 48.93 grams over 1.31 metres.
Stepout drilling is being carried out to establish reserves for the new zone. The HP vein is 800 metres east of existing mine workings and 200 metres south of the No. 2 zone, which hosts probable reserves of 101,845 tonnes grading 17.73 grams per tonne.
River Gold believes the latest results enhance the exploration potential in the immediate mine area, since it is hosted by a parallel shear zone running 200 metres south of the main ore-bearing structure. Several gold showings have been identified along this structure, including a recent drill hole in the No. 3 zone area, 1,000 metres west of the HP vein, which intersected 6.53 grams gold per tonne over 2.4 metres. Follow-up drilling is also being planned for this area.
Preproduction development has proceeded on budget, and the mill is expected to be producing its first gold bricks shortly.
Meanwhile, River Gold, together with Storimin Exploration (ASE) and Tandem Resources (ME), have pooled their respective interests in the Moss Lake property into a newly formed company, Moss Lake Gold Mines (TSE).
The Moss Lake property, situated near Shebandowan, Ont., contains a large, low-grade gold zone. A previous operator estimated that the property contains 60 million tonnes grading 1.1 grams gold, to a depth of 250 metres.
Be the first to comment on "New zone found at Eagle River"