St. Anthony drills high grade at historic mine in Ontario

St. Anthony Gold (CSE: STAG; US-OTC: MTEHF) has new assays from  its St. Anthony gold project in the Kenora-Patricia mining district of Ontario.

Drillhole SA21-18 returned the best results. It cut 3.7 metres grading 42.68 grams gold per tonne from 327.3 metres downhole, including 314 grams gold per tonne over 0.5 metre from 327.3 metres. It also cut 1 metre grading 109.6 grams gold per tonne starting from 352 metres downhole, including 2 metres grading 3.71 grams gold and 3 metres grading 3.09 grams gold. 

Two main zones have been identified at the historic mine on the project. (Historical production focused solely on the vein material and not the adjacent mineralized wallrock.)

Zone 1 was exploited, producing 63,310 oz. of gold until the Second World War interrupted mining. As many as 22 gold (and silver) occurrences have been identified on the property. The main mineralized structural corridor that contains the mine has been traced over 10 km of strike with widths of up to 1 kilometre. Two deposits – St. Anthony and Dawson White – have been identified, as well as three high grade target zones – Buckshaw, Couture Lake and Lucky Bones.

St. Anthony Gold (which recently changed its name from Maxtech Ventures) is mounting a three-phase exploration program. The first phase is in-fill and expansion drilling in the St. Anthony mine area, followed by the second phase of expansion drilling of the Dawson White deposit. The final phase will focus on the three high grade target zones mentioned above.

The junior explorer has a market cap of $8.5 million and at presstime was trading at 7¢ per share within a 52-week trading range of 5¢ and 10¢.