Having completed the first stage of exploration work on the MWF property in Matheson Twp. near Timmins, Ont., Anglo-Canadian Mining (TSE) reports a final narrow, gold-bearing intersection. Hole No. 11e, collared to the east of hole No. 11, intersected a 1.4-metre length grading 6.55 grams gold per tonne at a depth of 305 metres and a 1-metre section grading 5.93 grams at 346 metres.
The same stratigraphic horizon yielded a 1.7-metre section grading 29.42 grams in hole No. 11.
Holes No. 12 and 13 did not return any ore-grade values. Anglo says the results confirm that there is a synclinal structure in the central part of the property.
The company says it has entered into discussions with various financial institutions and private investors in an attempt to raise equity capital for a second stage of drilling.
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