Results from the first five holes of a 37-hole program have increased reserves at the Hislop-Beatty project in northeastern Ontario.
Operator Hemlo Gold Mines (TSE) reports that the best intersection was from Hole 94-109, which returned an intercept averaging 44.5 grams gold per tonne, uncut, over 5 metres. Typically, the intersections range between 5 and 7 grams over 1.5 to 5.0 metres.
Based on these results, the company calculates there is an additional 54,148 metric tonnes averaging 11 grams per tonne. Previous independent reserve calculations indicated a reserve of 1.2 million tonnes averaging 9.9 grams. Assay results from six holes are still pending and the remaining 26 holes will be completed this year.
Hemlo Gold’s joint-venture partner on the project is Glimmer Resources (VSE).
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