Drills turning at Damoti Lake

The first three holes of a planned 60-hole program on the Damoti Lake property in the Northwest Territories has expanded the Horseshoe-Pyrite gold zone.

Consolidated Ramrod Gold (TSE) extended the structure some 1,000 ft. to the north of the initial discovery holes (announced last year).

Hole D95-125 intersected eight zones of gold mineralization between a drilled depth of 75.11 and 436.9 ft. Selected intervals include 6.89 ft. of 0.4 oz. gold per ton; 36.08 ft. of 0.06 oz.; 1.31 ft. of 0.45 oz.; and 6.56 ft. of 0.21 oz.

Hole D95-126 missed the banded iron formation structure entirely and was subsequently redrilled as D95-127, intersecting 6.56 ft. of 0.13 oz., 7.87 ft. of 0.16 oz. and 2.62 ft. of 0.1 oz.

A new zone (identified from surface mapping) was drill-tested, with three holes intersecting a thin anomalous horizon, deemed uneconomic. Several holes were drilled on another promising fold structure, comprising what are referred to as the LA and Runway zones. Ramrod reports that the mineralization encountered is typical of the gold-bearing horizons and that assay results are pending.

Drilling will continue to infill the northwestern extension of the Horseshoe-Pyrite zone, as well as test new zones identified by mapping and sampling. Several holes are also planned around the BIF and North Island zones.

Ramrod, upon vesting its interest in Damoti Lake, will hold 51%, leaving Athabaska Gold Resources (TSE) to hold 24% and Gitennes Exploration (ASE) 25%. Meanwhile, on the adjacent TQY property of Tanqueray Resources (ASE), drilling is indicating that the Red Badger zone is a complexly folded and faulted iron formation. Gitennes is earning a half interest in the property. Assay results to date include 14.93 ft. of 0.23 oz. and 13.29 ft. of 0.12 oz. for hole RB95-08; 4.36 ft. of 0.14 oz. for RB95-10; 4.79 ft. of 0.22 oz. for RB95-11; 2.96 ft. of 0.13 oz. for RB95-14; and 2.3 ft. of 0.18 oz. for RB95-15.

Drilling continues to step out on the Red Badger, and Gitennes reports that wider intervals of the iron formation zone are being encountered, to both the north and south of previous drilling. Other targets to be tested include the Parma Belle and the so-called Irresistible East. Jerry Blackwell, president of Gitennes Exploration, describes the latter as the most attractive geophysical target currently outlined.

Meanwhile, at Gitennes’ wholly owned Fishhook Lake property, which adjoins both Damoti Lake and TQY, drilling was recently carried out on the Bivisible North zone. The program intersected 4.98 ft. of 0.56 oz. plus 2.36 ft. of 0.47 oz. for hole RB95-20, and 14.01 ft. of 0.32 oz. for RB95-21. Four holes drilled on the Bivisible South zone intersected narrow intervals of iron formation in three of the holes, with RB95-16 returning 4.46 ft. of 0.12 oz. The Bivisible structure is more than 2,000 ft. long and extends on to the TQY property along strike and at depth. Additional targets to be drill-tested on the Fishhook property include the Royal Champion and Irresistible West. A total of 32 drill holes are planned by Gitennes on the TQY and Fishhook Lake concessions.