Spirit tests gold zones at depth

A 7,500-10,000-ft. drill program is under way on Spirit Lake Explorations’ (ME) Edwards gold property northeast of Wawa, Ont., in preparation for underground bulk sampling.

The program, designed to test known high-grade vein deposits at depths of 600-1,000 ft., is funded by a $150,000 private placement and an Ontario government grant.

The two main deposits on the property, the Porphyry and Carbonate zones, are estimated to contain preliminary reserves of 98,430 tons grading 0.52 oz. per ton (undiluted) to a vertical depth of 600 ft. Some of the best grades occur at or close to surface.

President John Hansuld said permitting is scheduled to begin in early spring, with underground work commencing in June. Development options include dewatering and rehabilitating the old Edward’s shaft and/or running a ramp into the deposit.