NEWS ROUNDUP — New Island hits gold at Glover

With its first drill hole, New Island Minerals (ASE) has intersected significant gold mineralization at its 26,000-acre Glover Island property in Newfoundland.

The hole intersected 0.30 oz. gold per ton over a true width of 20 ft. This intercept included a high-grade core which averaged 0.40 oz. over 10 ft. The work is being carried out on the Lucky Smoke zone, under a trench where earlier sampling returned values as high as 0.22 oz. over 22 ft. The zone has been traced, by trenching and sampling, along a 2,000-ft. strike length within an 8-mile-long mineralized structure.

The structure holds 17 other prospects, and drilling has also been performed on two of these, the Lunch Pond South Extension and Kettle Pond South zone. Previous work outlined a geological resource of 4.5 million tons averaging 0.06 oz.