Encouraging gold and base metal values have been uncovered at MH Resources’ Mag Lake property in the Northwest Territories.
The company is owned 40% by Noble Peak Resources (ASE), 40% by Dejour Mines (TSE) and 20% by the MH Syndicate.
Anomalous copper, zinc and lead values were obtained from a 3.7-mile-long package of stratigraphy which represents the eastern strike extension of the Heninga Lake base metal deposit owned by Breakwater Resources (TSE). A sample from a sericite schist horizon, 1.2 miles southwest of Mag Lake, contained 2.55% lead and 1.4% zinc, as well as 2.16 oz. silver and 0.03 oz. gold per ton.
At a gold showing 400 metres southwest of the Mag Lake sulphide zone, sampling returned 0.34 oz. gold and 36.6 oz. silver over 1.3 ft. The mineralization is associated with quartz veins in a conformable shear zone. Geophysical surveys indicate a possible southwest extension to this zone. A pyrite-rich horizon, 620 metres across-strike to the west of the Mag Lake showing, assayed 0.10 oz. gold and 0.36 oz. silver.
A deep penetrating electromagnetic survey located an additional conductor 1,000 ft. east and across-strike of the Mag Lake horizon.
MH is seeking a partner to continue exploring the property.
Be the first to comment on "MH encouraged by Mag Lake play"