It looks like there is finally going to be some activity on the KIT property:
(Mkt News Pub) Kinross to Begin Drilling on George Lake Property
Kinross to Begin Drilling on George Lake Property
Wheaton River Minerals Ltd. announces that Kinross Gold Corporation is
set to begin a 9,000-metre drilling program at the George Lake project in
the Nunavut Territory. The first phase of the program will focus on
extending the depth and strike of the Goose Lake deposit.
The most recent drilling program on the Goose Lake deposit was in 1997,
and it returned the best drilling results ever from the property. Nine of
the fourteen holes from that program returned high grade values, and it is
in this area Kinross will begin drilling. In addition to the results below,
there were numerous intersections in the 5-10 gram per tonne range:
//st
Hole Number Depth Width Grade
(metres) (metres) (g/tonne)
97-GO-001 210.6-234.9 24.2 13.5
and 252.8-256.7 3.9 22.3
97-GO-002 144.2-162.0 17.8 12.5
and 165.7-189.5 23.8 13.5
97-GO-004-8 *
97-GO-011 141.6-147.2 5.6 8.3
and 154.8-159.1 4.3 13.0
97-GO-012 197.3-201.6 4.3 12.8
and 225.8-228.2 2.4 23.1
97-GO-014 22.4-38.4 16.0 8.4
97-GO-015 52.7-55.0 2.3 24.6
and 61.0-69.0 8.0 21.2
97-GO-016 42.0-44.1 2.1 10.4
97-GO-017 310.4-312.4 2.0 24.3
97-GO-018 41.0-51.7 10.7 17.1
* drilled on another target nearby.
//et
Wheaton River recently acquired a 100% interest in the George Lake
project through its merger with Kit Resources Ltd. Kinross can earn a 70%
interest in the project by spending $20 million before November 30, 2004.
The George Lake gold project is located about 70 kilometres south of
Bathurst Inlet in the Nunavut Territory of northern Canada. MRDI Canada
Inc. estimates that the project has an indicated resource of 4,238,000
tonnes grading 9.8 grams gold per tonne, and a further inferred resource of
2,222,000 tonnes grading 9.69 grams gold per tonne. The total inferred and
indicated resource is 6,461,000 tonnes grading 9.76 grams gold per tonne,
or 2,027,000 ounces of gold.
TEL: (416) 860-0919 Wheaton River Minerals Ltd.
Ian J. McDonald, Chairman and CEO
Kerry Knoll, VP Investor Relations
INET : www.wheatonriver.com
TEL: (514) 939-3989 Renmark Financial Communications Inc.
FAX: (514) 939-3717
E-mail: info@renmarkfinancial.com
INET : www.renmarkfinancial.com |
