Open pit reserve outlined by LynnGold in Manitoba

LynnGold Resources (TSE) and Trans America Industries (VSE) have outlined gold reserves amenable to open pit mining on their Burnt Timber property, located seven miles southeast of Lynn Lake, Man.

Based on 25,377 ft of diamond drilling, LynnGold, the project operator, has defined a reserve of 1.1 million tons grading 0.111 oz gold per ton. The reserves, which are hosted in a zone displaying a minimum 20-ft width, have been delineated to a depth of 400 ft.

The mineralization is found within an envelope of lower grading material which totals 2.1 million tons grading 0.034 oz gold. The deposit remains open along strike and at depth, LynnGold says.

Although an economic feasibility study has not been completed, LynnGold is encouraged by the project which is situated within trucking distance of the company’s MacLellan mine and mill, located near Lynn Lake. A prefeasibility study, including rock mechanics, metallurgical and overburden testing, has begun.

Just 200 ft north of the Burnt Timber deposit, the partners have made another gold discovery. Three drill holes have intersected 21.4 ft grading 0.231 oz gold, 19.4 ft grading 0.195 oz gold and 5.3 ft assaying 1 oz gold. The holes were spaced 100 ft vertically and 100 ft apart horizontally. Drilling will resume on the discovery after freeze-up.

LynnGold and Trans America hold a 51% and 49% interest in the property respectively.