Vancouver — Drilling by
Highlights from core drilling on the Gold Dust zone include the following:
r Hole 10 — 6 metres (from a depth of 28.4 metres) grading 34.8 grams gold per tonne;
r Hole 13 — 4.5 metres (from 6 metres) grading 17.4 grams gold, including 2.8 metres (from 30.5 metres) of 156.3 grams gold;
r Hole 14 — 3.4 metres (from 8 metres) grading 20 grams gold, followed by a deeper intersection of 1.6 metres (at 40 metres) grading 6.3 grams gold.
True widths are about 70% of reported widths. In all, 17 of the initial 23 holes intersected significant gold values.
Discovered in 1988, the Gold Dust zone consists of several gold-mineralized quartz veins. The steeply dipping sets of veins occur in interlayered volcanic flows and tuffs, which have been intruded by mafic-to-felsic intrusives. Past drilling identified several high-grade shoots in the vein system extending over 2 km.
Further drilling will test the depth potential of the Gold Dust zone and explore between the south and north shoots.
The company is also drilling the McCafferty zone, 4 km northeast of Gold Dust, where a 500-metre-long gold-bearing quartz vein has been traced on surface.
Black Pearl is earning a 100% interest in Wekusko Lake from Strider Resources, a private Manitoba company, in return for paying $500,000, spending $2 million on exploration, and issuing 1 million shares.
The company is also earning a 100% interest in the Ferro Gold mine, immediately north of the Gold Dust zone. The Ferro mine has been drilled extensively and has a resource of about 79,000 tonnes in the deposit grading 14.6 grams gold, though this calculation predates National Instrument 43-101.
Investors leapt on Black Pearl following the results, driving its stock price up over 80% to the 40 per share level on a volume of more than 1.1 million shares. With 14.7 million shares outstanding, the company’s market capitalization is $5.9 million.
Be the first to comment on "Black Pearl taps high-grade at Wekusko Lake"