Northern Lion hits more Finnish gold (May 27, 2004)

Vancouver – Drilling by Northern Lion Gold (NL-V) on the Haveri gold-copper project in southwestern Finland continues to return significant gold values.

The latest exploration included core and shallow-hole percussion drilling on targets identified by geophysics (three-dimensional induced polarization) and is also aimed at upgrading a previously calculated inferred resource of 6.6 million tonnes grading 3.5 grams gold per tonne and 0.5% copper on the Haveri/Shaft and Peltosaari zones.

Results from the latest drilling include the following:

  • Hole ME-02 91.7 metres (from 167 metres) grading 2.43 grams gold, including 14.75 metres of 5.11 grams and 8.7 metres of 6.7 grams;
  • Hole NW-01 6 metres (from 122 metres) of 2.59 grams gold;
  • Hole SZ-05 20 metres (from 73 metres) averaging 3.69 grams gold, including 12 metres of 5.41 grams and 5.15 metres of 9.56 grams; and a deeper intersection of 22.3 metres (from 185 metres) of 2.05 grams gold.

The percussion drilling comprised 52 shallow-holes, each 2 metres deep, designed to test the correlation of previous gold values in cuttings to recent IP anomalies. Partial results from initial holes on the Ansomaki claim show a direct relationship of gold values to chargeability anomalies.

The ongoing drill program will include a planned minimum of 8,000 metres in 30 holes, of which 19 are completed.

The project hosts stringer to massive sulphide gold and copper mineralization associated with a complex, altered volcanic-sedimentary suite with later-stage, structurally controlled epigenetic gold mineralization.

Haveri production from 1942 to 1962 saw underground and open-pit mining of 1.5 million tonnes of ore with a head grade of 3.52 grams gold and 0.52% copper.

Northern Lion is earning a 70% interest in Haveri from Mountain Province Diamonds (MPV-T) and holds 100% of the Ansomaki claim.


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