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Gold/Mining/Energy : KirklandLake/Newmarket
KL 38.92-0.2%Feb 8 4:00 PM EST
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From: PulpCutter10/30/2017 8:03:04 PM
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KLG owns chunk of DeGrey. New Conglomerate & Gold Nugget Discoveries: Discovery of thick conglomerates and gold nuggets confirms potential of 12 km target. Pitted and flattened gold nuggets confirm two new conglomerate discoveries - Jarret Well and Steel Well - within 12km target area and separate from Loudens Patch. Highly prospective pyrite bearing lower conglomerate bed appears similar to gold bearing rocks reported at Purdys Reward (Novo/Artemis) near Karratha. Conglomerates interpreted to be same unit providing over 2.5km of continuous strike length based on geophysical and aerial photography interpretation. Unit remains open to the north and dipping beneath Mount Roe Basalt. Mapping and metal detecting along the zone remains limited - less than 10% of 12km zone has been metal detected. Jarret Well Conglomerate Gold nuggets (3) discovered within and immediately adjacent to the lowermost ferruginous conglomerate bed. Above this lower conglomerate is a sequence of thicker and massive mafic sands/siltstones transgressing into an upper coarse polymict conglomerate Mapped 300m strike length, shallow dipping, up to 50m thick and open along strike under basalt and scree material. Steel Well Conglomerate Gold nuggets (3) discovered 500m south of outcropping Steel Well Conglomerate. 60m to 80m thick sequence mapped over a 900m strike length, moderate dipping and open along strike under basalt and scree material.
Read more at stockhouse.com
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