Gammon Lake Resources Inc -
Gammon Lake drilling results from Ocampo project
Gammon Lake Resources Inc
GAML
Shares issued 8,301,962
1999-05-13 close $2.43
Friday May 14 1999
Mr. Terence Donahoe reports
Gammon Lake's 925 metre, five hole diamond drill program at the Ocampo
project has returned significant intercepts of 10 metres at 2.4 grams per tonne
gold equivalent; nine metres at 2.6 g/t gold equivalent; 31 metres at 1.5 g/t gold
equivalent; two metres at 7.5 g/t gold equivalent and three metres at 6.5 g/t gold
equivalent. This drill program represents the first diamond drill program on the
ground at Gammon Lake's Ocampo project. The three recent bulk samples which
total 1,204.3 tons have produced a gold equivalent average grade of 11.4 g/t
obtained from a width of two to six metres. The drill, bulk sampling and earlier
geological mapping programs have produced a consistent picture of an excellent
exploration property since the drill program intersected mineralization where it was
mapped and bulk sampled.
Hole BR-99-1 was designed to prove that the bulk sample grade ore taken at the
30 metre level at the Brenda mine site continued to depth and to explore the
associated alteration zone. BR-99-1 was drilled to 218 metres by Major Drilling
and intersected the low sulphide material at 69 metres through to 134 metres with
anomalous values throughout, including a two metre section of 7.5 grams per ton
gold equivalent. This two metre section was found within a 31 metre interval which
assayed at a gold equivalent grade of 1.5 g/t.
Hole BR-99-2 also intersected a 10 metre section of 2.4 g/t gold equivalent that
contained a three metre interval of 6.5 g/t gold equivalent. In conjunction with hole
BR-99-1, hole BR-99-2, which was designed for the same purpose as Hole
BR-99-1, confirms the excellent grades from bulk sampling to the 100 metre level.
In addition, both holes BR-99-1 and 2 clearly demonstrate that the 65 metre
alteration zone sampled on surface at the Brenda mine site continues to depth.
Hole BR-99-3 was drilled 100 metres south of the collar locations of BR-99-1
and 2 to test the La Zorra structure gold and silver mineralization at depth. This
hole intersected nine metres gold equivalent grade of 2.6 g/t.
LENGTH INTERVAL AG AU AU EQUIV
(m) (m) g/t g/t g/t*
Hole BR-99-1
79 - 110 31 1.0 23.5 1.5
containing 2 4.5 156.7 7.5
Hole BR-99-2
128 - 138 10 1.3 56.1 2.4
containing 3 3.5 158.5 6.5
BR-99-3
141 - 150 9 1.2 75.8 2.6
* Factor is 100 grams silver as being equivalent to 1.9 grams of gold.
Holes BR-99-4 and 5, designed to test prospective chip and channel sampling
underground at the San Amado structure and on surface at the Maria structure,
produced anomalous gold and silver values, but did not intersect the targeted
structures using the surface drill angles selected.
Gammon Lake's recent diamond drill program and bulk sampling at the Brenda
mine project located at Ocampo, Chihuahua state, Mexico, have reinforced the
strong potential for these claims to host a low sulphide epithermal gold and silver
deposit with excellent grade to depth. Recent geological mapping has indicated in
excess of four kilometres of structure within the Brenda mine zone, and additional
structures on the El Penol and Estrella claims, which are near the Brenda mine site.
Gammon Lake will use these exploration holes to plan a much larger drill program,
which should commence in the next three weeks, to continue indicating the
resource.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
