Vancouver-based Golden Band Resources (GBN-V) has intersected gold mineralization while drill-testing the Memorial showing
in the Waddy Lake area of Saskatchewan.
Highlights of the ongoing program include a 62-metre intersection grading 3.31 grams gold per tonne from hole MM-7, the most northeasterly hole drilled on the showing. A nearby hole, MM-6, intersected gold mineralization from the collar to 52 metres, with the 47.3-metre interval averaging 1.72 grams gold.
To date, the showing has been tested by 10 holes totalling 865 metres, which have extended the strike length of the zone to 150 metres in total. Assay results from some of these holes are still awaited. More drilling is planned this fall.
The Memorial zone occurs within a folded package of metavolcanics and tuffaceous metasediments, which are intruded by late, high-level granodiorite and felsic dykes. Gold mineralization is described as being associated with biotization, carbonatization, silicification, disseminated pyrrhotite and quartz-carbonate veinlets.
Golden Band President Ron Nichols says the present interpretation puts the zone near the northeastern closure of an anticlinal structure “and proximal to an iron formation unit.” The zone lies in a 1-km-long, east-west-oriented, gold-in-soil anomaly and is 1 km south of the Byers fault, a major structural feature hosting several known gold deposits.
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