The best assay result from an 11-hole drill program completed recently by Bond International Gold (TSE) on Registry Resources’ (COATS) Magpy property near Pickle Lake, Ont., was 0.32 oz. gold per ton over a true width of 5.9 ft. The company says the intersection represents a new discovery on the grassroots exploration property. The result was obtained in a sheared contact zone between mafic volcanics and pyrite-bearing sedimentary rocks. Four other holes, drilled to test conductors, intersected lower gold values over greater widths representing at least five separate zones.
Power Explorations (TSE) owns 40% of the outstanding shares of Registry, formerly named Golden Tanager Resources. Bond is exploring the Magpy property under an option agreement with Registry.
The reconnaissance drill program was designed to test geophysical targets similar to those hosting the gold deposits on the nearby Golden Patricia mine property owned by Bond.
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