VANCOUVER — Northrock Resources (NRK-V, NORTF-O) has hit high-grade gold over decent widths at the Turner Lake property, about 20 km northwest of Bathurst Inlet, in Nunavut.
Intercepts from 13 of 14 holes that hit mineralization in the Main zone, graded as much as 16.2 gram per tonne over 8.5 metres in hole 12 starting 115 metres below surface.
Hole 6 hit 10 metres grading 3.18 grams gold starting 47 metres down-hole and hole 7 cut 9 metres of 2.49 grams gold starting 20 metres deeper.
Overall intercept widths ranged between about 1 and 10 metres and graded between 1 and 32 grams gold. Northrock says the intercepts are 50-80% true width.
Northrock has an option to earn a 65% interest in Turner Lake from Trade Winds Ventures (TWD-V, TWDIF-O) for $1 million in property-related spending and the issuance of 150,000 shares within its first year.
It can earn an additional 10% stake for $500,000 and another 250,000 shares.
Northrock says the Main zone was the primary target in 2008 and that it shows at surface over 500 metres. It is open along strike and at depth.
Gold mineralization mostly occurs within an iron metasedimetary unit near mafic metasedimentary- ultramafic contact, Northrock says.
On news of the drill results, Northrock’s share price rose 2.5¢ to 9¢, though Trade Winds’ gained 1¢ to close at 11¢. Respectively, the companies have 13.6 million and 89.4 million shares outstanding.
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