A hole drilled by NFX Gold (NFXG-C) has returned 0.16 oz. gold per ton over 30 ft., about 2,000 ft. below surface, at the Cheminis property in northern Ontario.
The intersection includes a 20-ft. interval grading 0.21 oz. gold. The true width of the 30-ft. intersection is reported to be 17.2 ft., while the higher-grade interval has a true width of 11.5 ft.
NFX continues to drill the D zone and the North D zone, both of which are open at depth and along strike in both directions.
At last report, the D zones hosted a combined resource of 1.3 million tons grading 0.18 oz. gold per ton.
Current reserves at Cheminis in all categories stand at 2.1 million tons grading 0.18 oz. gold. This year’s program is aimed at drilling the strike extensions of the D zones and two sediment-hosted zones, one of which was discovered during the 1997 program. Other targets also will be investigated.
In other news, NFX has been released from its obligation to make royalty payments to International Larder Minerals (LRDR-C). Larder agreed to terminate its interest in the royalty agreement in return for $30,000 and 175,000 shares of NFX.
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