Loki Gold drilling uncovers new zone

A hole drilled by Loki Gold (VSE) has returned 0.103 oz. gold per ton over 72.2 ft. and identified a near-surface zone of mineralization on the Brewery Creek project near Dawson, Y.T.

The hole, drilled in the Pacific area, was stopped in mineralization. The zone of quartz sandstone-hosted mineralization was traced by 14 holes over a strike length of 700 ft. and remains open on strike and to depth. Loki’s recent exploration work will be incorporated into new reserve studies, scheduled to be completed by year-end. Engineering, geotechnical and environmental programs are reported to be “on schedule” for mine feasibility studies and permit applications.

Drilling began in mid-August and included definition work on the Canadian and Fosters zones for the purpose of designing a pit. In addition, step-out drilling on the reserve blocks was carried out.

Loki also defined a new zone situated down-slope from the Fosters zone. Drilling of 29 holes in this area identified a gently dipping, near-surface zone with a strike length of more than 700 ft. The zone remains open on strike and downdip. The average grade of the mineralized sections is 0.067 oz. over 33.5 ft. Drill intersections from this target include 66.6 ft. of 0.106 oz., 39.4 ft. of 0.09 oz. and 32.8 ft. of 0.114 oz.

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