First Au, Wolfden hit gold at Red Lake

Vancouver — A 9-hole drilling program by partners Wolfden Resources (YWO-V) and First Au Strategies (FAV-V) has confirmed that gold mineralization extends below the historical workings on the once-productive Casummit property in the Red Lake mining camp of northern Ontario.

Targeting the past-producing Argosy mine, which closed in 1952 after surrendering 101,875 oz. gold from three veins mined to vertical depths of 270 metres, the latest program returned gold values from the Nos. 2, 3, 8 and 11 vein zones.

The best results came from the unmined No. 8 vein, where hole 1 cut 12 grams gold per tonne over 1.3 metre, and below the working at the No. 2 vein, where hole 7 hit 11.8 grams gold over 1.6 metres. Other highlights include:

q hole 2, which returned 9.11 grams gold over 0.75 metre at the No. 11 zone;

q hole 4, which intersected 9.27 grams gold over 0.3 metre at the No. 11 zone; and

q hole 8, which cut 8.12 grams gold over 1.1 metres at the No. 3 zone.

First Au Strategies paid for the 2,000-metre program as part of its January agreement to earn a 51% stake in the property. Based on the results, a second round of drilling is planned for next year.