Gammon Lake Resources GAM-TSE Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gammon Lake Resources GAM-TSE

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Buckey who wrote (4)	6/16/1998 1:28:00 PM
From: Buckey	Read Replies (1) of 116

NEWS OUT - Drilling Results Gammon Lake Resources Inc GAMLShares issued 8,034,922 1998-06-15 close $1.5 Tuesday Jun 16 1998 Mr. Fred George reports Gammon Lake has completed the logging and sampling of two drill holes on its Mitchell Lake property in Nova Scotia. The two holes totalling 253m were drilled on the southern flank of the Mitchell Lake anticline to test a linear magnetic anomaly that was coincident with undocumented workings. Hole Mit-1 has produced an intersection of 1.33 grams gold/ton over 20.2m between the 54.2m and 74.4m levels. High assays were encountered in 50 cm single samples outside this interval with sample Mit1-18.4 returning 14.685 g/t gold at the 18.4m level and sample Mit1-112 returning 5.117 g/t gold at the 112.7m level. Hole Mit-2 was collared 50m to the west of Mit-1 and tested the same magnetic anomaly. This hole produced an intersection of 0.71 g/t gold over 11.7m between the 109.7m and 121.4m levels. Lower values were achieved over longer intersections with 0.42 g/t gold over 41.7m being achieved between the 90.9m and 132.6m levels. Both holes encountered interbedded slate and greywacke cut by thin quartz veins commonly less that 5 cm wide. These veins were noted to be parallel to bedding as well as cutting across bedding. High assays have been encountered in quartz veins and within intervals of host rock devoid of quartz veins. Pyrrhotite was the most abundant sulphide mineral encountered with lesser pyrite and arsenopyrite; minor sphalerite was also noted. Sulphides were disseminated throughout the core and also occurred as thin veinlets. The core commonly contained thin calcite veins as well as disseminated carbonate and minor biotite. The gold enriched zone detected in this phase of the project is open to depth and to the west. In the east the zone is truncated by Mitchell Lake and no work, geophysical survey or drilling, has yet been completed to test beneath the lake. The results are considered encouraging as a previously conducted soil survey testing of the area of the same magnetic anomaly in 1996 returned assays of up to 580 ppb gold in independent laboratory fire assay tests. More work on this project, which is on the western margin of the former producer Goldenville Mines, has been planned for the 1998 season. The work includes a 300m diamond drill program to test the width and western extension of the anomaly which can be traced for 900m to the west. Detailed mapping and prospecting is also planned for the southwestern corner of the property which also contains a high magnetic anomaly.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next