Grassroots exploration has uncovered five new gold showings on Pelangio-Larder Mines’ (COATS) North Spirit Lake property, 100 miles north of Red Lake, Ont. Including the new discoveries, gold occurrences now cover an area measuring 650×5,000 ft. on the 22-claim property. The occurrences appear to be stratigraphically controlled.
The North Spirit Lake property, which Pelangio shares with joint venture partner Quote Resources (VSE), shows geological similarities with the Barens River mine, 40 miles to the northwest.
The former producer milled 561,000 tons of ore averaging 0.28 oz. gold per ton from 1939-48.
Previous prospecting located several gold showings on the property with some of the better assays from grab samples varying from 0.17- 0.74 oz. gold.
The partners plan to strip the pervasive cover of overburden during a recommended second phase of exploration. Follow-up mapping and sampling has also been recommended.
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