An underground examination of the Preston Olive mine property near Fort Frances, Ont., has been completed by partners Noront Resources and HSK Minerals. The program confirmed the presence of two mineralized shoots holding 12,500 tons grading 0.34 oz gold per ton.
Surface drilling designed to test the main zone at depth, has intersected two new parallel zones, the partners say. Assays from two drill holes included 0.178 oz gold per ton across 5.5 ft, 0.096 oz gold across 5 ft and a 5.2-ft section which graded 0.08 oz. Assays are expected shortly from six other holes drilled into the zones.
In the eastern section of the property, drilling has cut a 10-ft wide section of massive sulphides containing pyrite, chalcopyrite and sphalerite. Samples from the zone are still out for assay. Noront has the right to earn a 60% interest in the property.
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