Initial surface exploration results have been received by partners Captain Consolidated Resources and Koala Resources from their Mishibishu Lake gold project. Located west of Wawa, Ont., the property was examined by a mapping, geophysical and geochemical exploration program.
The work has identified six drill targets which correspond to areas of increased gold values in bedrock with coincident geophysical anomalies. Of 14 areas within the claim group which were examined by the program, eight failed to yield any gold mineralization. Drilling, which will be funded by a $250,000 financing completed by Captain, will start as soon as equipment becomes available, the company says.
At the company’s Hemlo area property, drilling has been completed and assays are expected shortly.
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