Further assay results from drilling at the Damoti Lake property, 150 km north of Yellowknife, N.W.T., have extended the previously discovered gold zone to the north.
Athabaska Gold Resources (TSE), operator of the joint venture with partners Consolidated Ramrod Gold (TSE) and Gitennes Exploration (CDN), is sufficiently happy with the results that it plans to continue drilling during freeze-up rather than take a scheduled break.
The recent results include a 2.8-metre intersection grading 2.04 grams gold per tonne in Hole D-6, a 2.6-metre intersection at 23.3 grams in Hole D-7 and a 2.03-metre intersection at 6.6 grams in Hole D-8.
Holes D-6 and D-7 were drilled at 45 and 50 respectively, on a section 67 metres north of Discovery Hole D-2 (9.5 metres grading 13.7 grams). Hole D-8 was drilled on a section 31 metres north of the discovery hole and was designed to test beneath Hole D-5 (10.05 metres grading 16.26 grams), but failed to intersect the target. Athabaska plans to drill a second hole to test the area below Hole D-5.
The gold mineralization is hosted in an iron formation and Athabaska has traced the zone from BIF Island, where the discovery was made, on to North Island, about 500 metres to the north.
Two bands of sulphide-rich iron formation have been identified on surface at North Island and Hole D-11 (assays pending) is reported to have intersected 36 metres in the West iron formation and 21 metres in the East iron formation. Furthermore, two grab samples from the East formation returned 21.1 and 26.3 grams.
Athabaska is also encouraged by a recent program of geological mapping, surface sampling and ground geophysical surveys over a 3-km-long grid covering the iron formation to the south of Damoti Lake.
Three 100-metre-wide exposures of the iron formation include several sulphide-rich sections, each measuring more than five metres in width. A similar surface program extending two kilometres to the north of Damoti Lake is nearing completion.
Athabaska plans to drill at least nine additional holes on both North and BIF Islands during freeze-up, to be followed with further drilling this winter from the lake ice.
When Consolidated Ramrod concludes its earn-in, the property will be split 25% to Gitennes, 24% to Athabaska and 51% to Ramrod.
Recent results are as follows:
Hole Interval Width Gold
(m) (m) (g/tonne)
D-6 19.15-21.95 2.80 2.04
incl. 19.15-20.10 0.95 4.59
D-7 45.95-48.55 2.60 23.30
incl. 46.83-47.80 0.97 55.84
65.28-66.85 1.57 4.95
D-8 70.35-72.38 2.03 6.60
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