Results from Emerald Lake Resources’ Golden Rose gold property in northern Ontario continue to exceed expectations, the company reports. The property, located northwest of North Bay, Ont., could be in production by late summer.
The ramp at Golden Rose has been completed to 400 ft (vertical), the third level of the old mine. Drifting and cross-cutting is under way on the A level, 150 sub-level, 250 sub-level and the second level.
A continuous ore system consisting of a shallow-to-vertically- dipping quartz vein stockworks has been defined. Underground exploration indicates that the initial production grade should exceed the diamond drilling grade of 0.23 oz gold per ton, President Gordon Keevil reports.
On the A level, 65 ft of the drift averaged 0.28 oz across the 8-ft height of the drift; on the 150 sub- level, the drift averaged 0.31 oz across the 8-ft height for 120 ft (continuous). The vertical ore zone has been identified on the second level and initial values range from 0.18 oz to 1.04 oz.
Ore grade gold mineralization has been identified in the North Iron formation where no previous reserves were calculated. A 60-ft crosscut on the first level averaged 0.26 oz across the 10-ft mining height. The company believes initial production will maintain a grade closer to 0.3 oz, which is 30% higher than projected in the feasibility study. The company has been forecasting a milling rate of 400 tons of ore daily once the mine is in production.
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