Mountain Lake Resources has announced the recent analytical results of the step-out holes drilled at the Glover Island gold property, West Newfoundland.
The objective of the ongoing 7,000 m drill program of 2011 is to authenticate and extend the previous resource present at the Lunch Pond South East (LPSE) prospect and to finish NI 43-101 compliant resource calculation in the 2012 first quarter. The company’s plan is to target the deposit’s upper 200 m to find the potential of an open pit.
Mountain Lake’s CEO and President, Gary Woods, commented that the company is delighted with the ongoing drilling results. The uniformity and width of the gold mineralization is significant.
The company intersected 1.34 g/t gold over 99.3 m in the hole LPSE-11-48, which is located contiguous and 40 m towards western part of the former hole LPSE-11-44 that encountered 0.7 g/t gold over 130.9 m. It drilled the hole LPSE-11-49, 50 m to the western portion of LPSE-11-48 that returned 0.54 g/t gold over 40.7 m and 1.53 g/t gold over 7.5 m. In addition, the company drilled the hole LPSE-11-50, 80 m up dip from the hole LPSE-11-49 that yielded 1.76 g/t gold over 26.6 m.
The location of these three step-out holes is outside the previous resource border of the LPSE prospect. The distribution of gold is found to be uniform continuously over wide intervals.
The company tested all samples at Eastern Analytical Laboratory in Newfoundland. Lead collection fire assay together with atomic absorption finish was utilized to examine the samples.
Source: http://www.mountain-lake.com/