Glimmer intersects gold on first Hislop stepout hole

Encouraging results are reported from the first 11 holes of a 31-hole delineation program on the Hislop property in northeastern Ontario.

Hemlo Gold Mines (TSE), with a 60% interest, is the operator of the gold project. Glimmer Resources (VSE) owns the remainder.

Stepout Hole 93-76, drilled 25 metres west of the West zone, intersected 19 grams gold per tonne over 2.1 metres, 6.7 grams over 2.9 metres and 19.4 grams over 2 metres.

The purpose of the program is to conduct in-fill drilling on the West and East zones at 25-metre intervals and initiate 25-metre stepout holes. It is hoped the drilling will also add to known reserves.

The deposit is hosted within a carbonatized zone near the contact between mafic volcanics and komatiitic flows. It is estimated to contain 1.2 million tonnes averaging 18.85 grams. Figures were calculated to a depth of 250 metres below surface and the deposit is said to be open beyond the 400-metre level.

Glimmer President George Kent said other targets include a 2,000-metre structure parallel to the strike of the East and West zones. Within the structure are two zones of strong alteration similar to the East and West zones; these are 55 and 8 metres thick, respectively. “Three holes have intersected anomalous gold values,” Kent said, “but we need more drilling to confirm anything.”

To date, $2 million has been spent exploring the property. Current drilling should be finished by early December.