Gammon Lake Resources Inc -
Gammon Lake receives results from Brenda
mine claims
Gammon Lake Resources Inc
GAML
Shares issued 8,301,962
1999-05-04 close $2.15
Wednesday May 5 1999
Mr. Terence Donahoe reports
Gammon Lake Resources has received the results of the April 309.7-ton bulk
sample extracted from the Brenda mine claims at Ocampo, Chihuahua State,
Mexico. The head grade was 9.4 grams per ton of gold and 417.0 grams per ton
silver as fire assayed by the Brenda Mine Lab, the Ocampo project's on-site
facility. Using a factor of 1.8 grams of gold as being equivalent to 100.0 grams of
silver the head grade is equivalent to 16.9 grams per ton gold.
The ore was obtained from a width of two to six metres at the 42-metre level with
the total amount being delivered to the flotation mill on-site in order to obtain a
true average grade. The concentrate produced at the mill was processed at the
Minera Penoles smelter, an arm's-length facility. Since entering the sulphide
mineralization, the recovery rate from flotation has increased to 91.5 per cent for
gold (previously 86 per cent for oxide mineralization) and 80.8 per cent for silver
(previously 76 per cent for oxide mineralization).
The third bulk sample is part of the underground exploration program undertaken
by Gammon Lake at the Brenda mine project. The composite results for the three
bulk samples, all of which are from the Jesus Maria structure, are as follows:
Level of
Sample
Sample Sample Under- Grade of
Size Width ground Au and
(tons) (m) (m) Au equiv.
March
1999 322.7 2 to 4 45 and 60 8.3
April
1999 571.9 2 to 6 42 10.1
May
1999 309.7 2 to 6 42 16.9
Gammon Lake completed a five-hole 1,000-metre diamond drill program on May
2, in order to explore the large alteration zone from which the company's
geological staff obtained a 65-metre continuous chip sample of 2.97 grams per
tonne gold equivalent as previously reported. The samples have been sent to
Chemex Labs and the company awaits results expected in no more than four
weeks.
The 25-square-kilometre Ocampo mining district is on the northern edge of a
2.5-kilometre-wide Northwest trending gold and silver zone. This area is part of a
gold and silver belt that trends north-northwest through Sonora and Chihuahua
States that contains a number of multimillion ounce deposits such as Francisco
Gold's El Sausel deposit, Penole's Penos Altos., and Placer Dome's Mulatos. The
Ocampo district has past production estimated as high as 4.8 million ounces of
gold. It has only recently had modern exploration methods applied to determine
the nature and extent of the deposits.
The Brenda mine claims have had underground work to the 60-metre level that
has identified the Jesus Maria, Veta Tierra, Balvanera, San Amado and La Zorra
structures. The El Penol structure is at surface 1,000 metres southeast of the
Brenda mine. |
