Based on recent drill results, Pioneer Metals (PSM-T) believes ongoing exploration is warranted at the Nokomis Lake gold project, 68 km northeast of Flin Flon, Man.
The Vancouver-based company is earning a 100% interest in the project from Placer Dome (PDG-T) and Hudson Bay Exploration & Development, subject to a 2% net smelter return royalty.
Nine infill holes totalling 814 metres were recently drilled on the South Showing gold zone.
Results include: 4 metres grading 10.89 grams gold per tonne from 182 to 186 metres; 2 metres of 42.61 grams from 18.9 to 20.9 metres; 7.1 metres of 10.38 grams from 37.2 to 44.3 metres; 6.6 metres of 7.04 grams from 36.2 to 42.8 metres; 5.1 metres of 5.86 grams from 32.1 to 37.2 metres; and 5.9 metres of 8.74 grams from 53.4 to 59.3 metres.
The program was aimed at drilling the near-surface zone and at testing the continuity of gold mineralization indicated by deep drilling. The company says results confirm the presence of mineralization to a depth of 60 metres in the near-surface zone. Additional drilling will attempt to delineate the zone, upgrade reserves to a drill-proven category, and explore an area prospective for zones amenable to underground mining.
The Nokomis Lake project is situated 7.5 km northeast of Pioneer’s dormant Puffy Lake gold mine.
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