Calpine completes five drill holes

Calpine Resources of Calgary has announced the completion of five holes (2,251 ft) on the DD zone at the Eisler Lake, Sask., gold property. Complete results are not yet available.

Hole No 1, drilled southerly at –45 degrees to test a strong EM conductor under Eisler lake, failed to explain the conductor, President George Oughtred reports. One short section of disseminated pyrite mineralization from 88-92 ft assayed an anomalous 370 ppb gold.

Hole No 2, drilled to test the same EM conductor, intersected a barren looking shear zone from 244-262 ft which contains an elevated gold content of 140 ppb on assay.

Hole No 3 cut three mineralized shear zones from 110-125 ft, 233-238 ft and 296-344 ft, respectively. The two lower sections are highly silicified and carry from 1%-to-2% fine pyrite mineralization. Assay date is awaited.

Holes No 4 and 5, drilled southerly at –45 degrees and –65 degrees, respectively, to explore the downdip projection of the quartz veins exposures at the west end of East Pond, intersected extensive widths of sheared, silicified gabbro.

Hole No 4 cut a 46.2 ft section of strongly sheared, pyritic, silicified gabbro from 65-111.2 ft containing 2.5 ft of quartz veining (101-102.5 ft). Hole No 5 cut a 74-ft section of sheared gabbro containing a strongly silicified pyritic section from 85-109 ft.

All sheared and mineralized sections have been split and shipped to Loring Laboratories in Calgary for assay.

Mr Oughtred reports Calpine is currently exploring a 25-sq-mi tract 90 mi northeast of Lac La Ronge, Sask. The property is under option from Claude Resources of Saskatchewan.