Golden Regent, LBN cut gold in Slovakia

Drilling at the past-producing Lom gold-antimony project in Slovakia has confirmed mineralization for Golden Regent Resources (GRR-A) and its partner, LBN Syndicate of Australia.

The first two core holes intersected a 10-to-11-metre-wide gold-bearing structure previously developed in 1944 by the then-occupying German forces. Results are described as similar to those in historical documents, but indicate increasing widths of mineralization at depth.

Hole 3, which was collared in the centre of the block, returned 2 metres of 2.31 grams gold per tonne and 2.71% antimony, and 3 metres of 6.33 grams gold and 2.2% antimony. The second zone begins 2 metres below the first.

Collared in the same location but drilled nearly parallel to the zone’s dip, hole 4 intersected 2 metres of 3.04 grams gold and 10.17% antimony, and 2.65 metres of 2.08 grams gold. Because of the hole’s declination, the mineralized structure was intersected 80 metres deeper than hole 3, at a depth of 122 metres below surface. Visual inspections of drill core show silicification increasing deeper into the system.

As well, hole 4 returned a separate 2-metre interval averaging 2.77 grams gold. The interval begins at 94 metres down-hole and represents a new zone of mineralization.

Mineralization at Lom is in a steeply dipping altered gneiss containing two prominent quartz-vein systems. Veins vary from 3 cm to 1.5 metres in thickness and are impregnated with pyrite and stibnite.

From 1941 to 1945, the Germans reportedly mined 125,000 tonnes at Lom, yielding 16,000 oz. gold and 9.5 million lbs. antimony. Golden Regent and LBN Syndicate are focusing their efforts on an adjacent area, where 750,000 tonnes were developed prior to the German retreat.

Golden Regent owns a 75% interest in the property through an equivalent equity interest in the property owner, First Canadian Slovak Mining Co. The LBN Syndicate can earn a 60% interest in the property by spending $610,000 on drilling and reopening the old workings.