SMDC gets results at Fork Lakes

Initial drill results from the Fork Lakes gold property suggest that gold mineralization extends to a depth of at least 60 m, operator Saskatchewan Mining Development Corp., says. Located north of La Ronge, Sask., the Forks Lake property is the site of a rich surface gold discovery which is currently the subject of a diamond drilling program. Partners in the project include smdc (36%), Golden Rule Resources (30%), Mahogany Minerals Resources (19%) and Shore Gold Fund (15%).

Of seven intersections, five are economic. Results are listed below. Hole Interval Section Cut grade (m) m) oz au/t 1 38.0-40.5 2.5 0.55 2 79.5-81.0 1.5 0.253 3 43.0-46.0 3.0 0.422 4 75.5-77.0 1.5 0.41 5 48.0-49.0 1.0 0.139 6 84.0-85.5 1.5 0.51

All of the sections were completed in the Jasper zone. Hole 4 also cut a half-metre section in the Muskeg zone which assayed 0.129 oz gold per ton, smdc reports. The 2,000-m drill program is expected to be completed by month-end, at which time additional results will be released.

The Forks Lake property adjoins the Transom Lake property where another group of companies, including smdc and Golden Rule, are working. Both properties protect the same structural zone which is associated with high grading gold values. The discovery, made last June by smdc prospectors, has generated considerable excitement amongst both exploration companies in the area and investors.