Drilling by Proteus Resources, an affiliate of Silverside Resources, has intersected a new mineralized zone on the company’s Garrison property. Located in Garrison Twp., Ont., the property is subject to a 50% earn-in right held by Lac Minerals. Lac is funding the exploration program, and can acquire its interest after spending $1 million.
The new zone was encountered by a hole which intersected 5 ft grading 0.4 oz gold per ton. This zone is 260 ft north of zone five. The latter zone hosts drill-indicated reserves of 275,000 tons grading 0.175 oz.
Another hole spotted in the eastern section of zone five cut 10 ft assaying 0.24 oz. Drilling continues with two rigs on-site.
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