Dec 13 2013
Carlisle Goldfields Limited and Canadian Orebodies Inc. are pleased to announce that a 3,600 metre ("m") drill program is well underway at the Farley Lake Mine Project ("Farley Lake") in the Lynn Lake Gold Camp ("Lynn Lake"), Manitoba.
Pursuant to the option agreement as announced on November 13, 2013, Orebodies is earning a 10% interest in Farley Lake by funding the $800,000 drill program.
The 3,600 m drill program will be focused on in-fill drilling of approximately 18 holes with the intention of upgrading the Farley Lake resource estimate. Currently Farley Lake has a NI 43-101 resource estimate totaling 610,000 ounces ("oz") of gold ("Au") in the indicated category grading 3.21 grams per tonne ("g/t") and 403,000 ozs Au in the inferred category grading 2.87 g/t.
Bruce Reid, President and CEO of Carlisle states that: "In-fill drilling will be focused within the 800 metre strike length of the existing NI 43-101 compliant resource. We intend to move forward with ensuring the Farley Lake resource is upgraded so we can continue to plan for feasibility-level studies. We expect to have the first batch of drill results back early in the New Year."
Source: http://www.canadianorebodies.com