The first drill results were released recently from a 15,000-ft. phase one drilling program on Golden Rule Resources’ (TSE) wholly owned Kaslo gold property in Saskatchewan. Kaslo is one of four projects on which Golden Rule is attempting to delineate and extend known gold deposits along the Byers mineral belt. The company has earmarked $2.4 million for those projects.
The first drill hole at Kaslo intersected 52.5 ft. grading 0.19 oz. gold per ton within a broad mineralized zone in the Niko deposit.
“A higher grade section in this hole yielded 25 ft. of grade 0.27 oz.,” said director Larry Lahusen.
According to Lahusen, the Niko deposit consists of three steeply plunging zones of gold mineralization close to and within the hangingwall of the Byers fault.
Preliminary reserve estimates in the Niko deposit now stand at 76,000 tons of grade 0.21 oz. gold per ton across an average true thickness of 16.4 ft.
When phase one is completed, Golden Rule is planning to do more drilling this summer in a bid to define the Niko deposit along strike and to depth.
“The continued development of gold ore reserves at Kaslo will be a direct benefit to the ore reserves that exist at Tower Lake as well as other deposits within the Byers Mineral belt under a central mill concept,” Lahusen said. Reserves in the Tower Lake East deposit stand at 593,000 tons of grade 0.20 oz.
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