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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)
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To: Dan P who wrote (772)9/17/2003 3:18:12 AM
From: Pete  Read Replies (1) of 972
 
Dan- PXI has a gold discovery in Red Lake on their Sidace Lake property, this is from their website:

"Planet's summer of 2002 drill program intersected a previously untested deeper gold bearing zone containing both wide low-grade and narrow high-grade gold mineralization, 2.138 grams gold per tonne over 61.70 metres and 97.03 grams gold per tonne over 0.20 metre. Planet's December, 2002, drill program tested the up dip and west strike exrensions of this zone. Three holes intersected the quartz sericite schist zone with the best width being 1.247 grams gold per tonne over 122.7 metres and grades up to 9.03 grams gold per tonne over 2.00 metres.

Five holes drilled in early 2003 successfully intersected the quartz sericite zone with the best width being 1.637 grams gold per tonne over 102.0 metres in RL-03-23. This section included 4.687 grams over 16.40 metres including 8.575 grams over 4.00 metres and 21.589 grams over 1.00 metre, and 2.951 grams gold over 30.00 metres including 8.769 grams over 1.00 metre, 8.709 grams over 0.65 metre and 4.852 grams over 10.60 metres, including 8.764 grams over 2.65 metres.
The company is extremely pleased with the results of this last drill program and will commence with another drilling program immediately. The next program will continue to expand the dip and strike of the gold zones."

Located in the world’s high grade gold capital, the prolific Red Lake District of Ontario, Canada, Planet Exploration’s property comprises 18 contiguous blocks, of 268 units, covering 4288 hectares."

Here is more details-
planetexploration.info
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