High River drills Snow Lake project

A deep drill program has commenced on High River Gold Mines’ (TSE) Snow Lake gold mine property near Snow Lake, Man.

A deep drill hole has been positioned to intersect the Dick zone at the 3,200-ft. level, 400 ft. down-plunge of the deepest drill-hole to date which previously intersected 0.33 oz. gold per ton over 27 ft.

A 1989 drill program at the Snow Lake mine property (formerly the Nor-Acme Gold Mine) outlined a reserve of 4.2 million tons averaging 0.19 oz. gold. The company is currently exploring financing alternatives which will allow it to bring the Snow Lake property into production.

In other news, High River reports that Restech International did not receive regulatory approval for its proposed purchase of about 34% of the outstanding shares of High River from TVX Gold (TSE).

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