The winter drill program has been completed by Mountain Lake Resources at the Lunch Pond South Extension (LPSE) deposit, which is located in the Glover Island gold property in West Newfoundland.
Numerous gold prospects are present in the property along a mineralized corridor that is trending towards the northeast and southwest together with the LPSE deposit located at the southwestern end of a strike, whose length is 11 km.
The company included core drilling of 2,789 m, totaling 12 holes, in the winter program in order to examine the continuity of thick quartz breccia mineralization onto the LPSE deposit’s western grid. Currently, 742 core samples are available at the laboratory. The company will announce the analytical results, when it is available. This will complete the phase I drill program at the company’s property.
Mountain Lake is continuing the preparation of the preliminary NI 43-101 mineral resource calculation of the LPSE deposit area. It expects to release the resource before the end of Q1. There will be delay in this till next month due to the problems at the laboratory and the engineering firm that performs the mineral calculation.
The former resources estimated for the property’s three regions have included Lunch Pond South West Zone grading 900,000 t at 1.6 g/t gold, Lunch Pond South Main Zone grading 2,730,000 t at 2.1 g/t gold and Kettle Pond South grading 450,000 t at 2.3 g/t gold.