Sulliden Exploration (SUE-M) has begun the second phase of exploration at its Red Cliff Pond-Long Pond project on Newfoundland’s Baie Verte Peninsula.
The project area is adjacent to the recently opened Nugget Pond gold mine of Richmont Mines (RIC-T).
The company has budgeted $800,000 for exploration of a portion of the East Pond showing, which was discovered earlier this spring during drilling at the Red Cliff Pond property. One hole from that showing returned 0.5 metre of 17 grams gold per tonne. The East Pond showing is 4 km northeast of the Nugget Pond mine and lies along the 15-km-long Nugget Pond sedimentary horizon, with which ore at the mine is associated.
Sulliden’s second-phase program consists of mapping in the East Pond sector, reconnaissance work, and induced-polarization (IP) and magnetic geophysical surveys on both properties. The company will also conduct 3,000 metres of diamond drilling on the new East Pond showing and at other geophysical and geological targets.
Sulliden can earn a 100% interest in Red Cliff Pond and a half interest in Long Pond.
In Peru, the company has begun the second phase of exploration at its Las Huaquillas project. That work is budgeted at $1.4 million.
Sulliden has completed 18 km of a planned 22-km linecutting program designed to extend the existing grid to the northeast, south and southwest.
IP and magnetic surveys have begun, as has soil geochemical sampling. The program is designed to outline reserves on Los Socavones, an epithermal-Type gold deposit, and establish the boundaries of the porphyry-style mineralization at Cementerio.
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