Exploration continues at Damoti Lake

At least 3,000 ft. of drilling is about to begin on the Toy gold property, north of Yellowknife, N.W.T.

Gitennes Exploration (ASE) can earn a half interest from Tanqueray Resources (ASE) by spending $600,000 on exploration by Dec. 31, 1996. A late-season program identified the Red Badger prospect, a gold-bearing iron formation. Seven trenches over a distance of 376 metres, with widths of 1-5.6 metres, returned 1-metre sample lengths ranging from 1.09 to 20.84 grams gold per tonne.

Prospecting indicates the iron formation outcrops over 1,400 metres. In related matters, a second phase of drilling is under way at Damoti Lake, with a minimum of 20 holes planned. Gitennes has a working interest of 25% in the joint-venture project, situated in the same folded iron formation belt that hosts the Toy property.

Consolidated Ramrod Gold (TSE), acting as operator, will further test the Horseshoe zone with a series of stepout and deep drill holes. Ramrod is earning a 51% interest; Athabaska Gold (TSE), upon vesting its interest, will hold 24%.