Drilling by
The highlight of the most recent batch of assays is hole 29, which intersected 13.3 metres (from 433 metres) grading 23.6 grams gold per tonne and 2.8 metres (from 448 metres) of 22.4 metres within the East zone. The hole, which intersected the East zone at a depth of 320 metres below surface, is the deepest drilled to date at Goose Lake. The results suggest that the Main and East zones continue to plunge strongly to the north.
Other highlights include: 5.9 metres (from 162 metres) of 13.5 grams gold in hole 13 (Main zone); 29.7 metres (from 236 metres) of 3.9 grams gold in hole 17 (Main); 2 metres (from 121 metres) of 26.9 grams gold in hole 25 (West zone); and 2.4 metres (from 34 metres) of 15.5 grams gold in hole 18, which tested the extension of a new zone discovered in previously reported hole 9.
Kinross’s 40-hole, 11,000-metre program is aimed at boosting Goose Lake’s known tonnage and grade, estimated in 1997 to be 1.6 million tonnes grading 9.53 grams gold per tonne in the indicated category and 942,000 tonnes at 9.1 grams gold in the inferred category.
Most of the gold at Goose Lake is contained in three zones — West, Main and East — which are parallel, southeasterly striking, and spaced about 50 metres apart.
Total resources at the George Lake project are estimated at 6.5 million tonnes grading 9.76 grams gold, equivalent to 2 million contained ounces.
The major can earn a 70% interest in the project by spending $20 million on exploration before Nov. 30, 2004. The George Lake project is 70 km south of Bathurst Inlet. It was acquired earlier this year by Wheaton River through its merger with affiliate Kit Resources.
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