Diamond drilling is under way with a second rig scheduled to arrive on Pan East Resources’ Fifteen Mile Stream gold property in Nova Scotia by operator Greenstrike Gold Corp.
The goal of the 3,000-m program is to expand the total in situ geological probable and possible reserves of 214,000 tons averaging 0.22 oz gold per ton.
So far, nine drill holes have been completed along strike of the mineralized zone for a distance of 175 m. The drill holes are spaced about 25 m apart.
Among the results of the first six holes are holes 86-5 which returned 0.347 oz over 18 ft. Hole 86-6 intersected 15.9 ft grading 0.585 oz, including an 11.4-ft intersection grading 0.806 oz. Hole 86-1 intersected 0.088 oz over 15.6 ft.
Assays are awaited for holes 7 to 9 which have all encountered visible gold.
Greenstrike can earn approximately 22% equity interest in Pan East.
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