Resource expands at Damoti Lake

Drilling by Quest International Resources (qix-t) has increased the resource of the Horseshoe gold zone at Damoti Lake in the Northwest Territories.

The new resource is estimated at 606,000 tons grading 0.42 oz. gold per ton (550,000 tonnes at 14.4 grams per tonne), and does not include five other zones on the Damoti Lake property. All are hosted in tightly folded banded iron formations. The Horseshoe resource takes into account only mineralization in the top 350 ft. (106 metres) of the zone. Sixteen deeper holes have indicated mineralization as deep as 850 ft. (260 metres), and the zone remains open at depth and along strike.