Toronto-listed Consolidated Ramrod Gold has intersected coarse visible gold within high-grade intervals at the Damoti Lake property near Yellowknife, N.W.T.
The discovery follows resumption of a minimum 20-hole drill program aimed at testing the Horseshoe, Pyrite and Red Mountain banded iron formation zones. The company intends to reassay for metallic gold content.
Upon vesting its interest, Ramrod will hold 51%, leaving Athabaska Gold Resources (TSE) to hold 24% and Gitennes Exploration (ASE), 25%. Holes 110, 111 and 112 were drilled in the southern part of the Horseshoe zone, whereas hole 113 was drilled close to, and along, the same azimuth as hole 87. Hole 87 returned 74.56 ft. of 1.13 oz gold per ton. Drilling continues to step out northward along the zone, the objective being to test the structure at deeper depths. Reported assays are as follows: Hole Interval Width Gold
(ft.) (ft.) (oz./t)
94-110 16.40-29.85 13.45 0.14
61.34-77.08 15.74 0.15
94-111 87.9-92.17 4.27 0.48
94-112 38.38-42.64 4.26 0.19
94-113 83.64-86.92 3.28 0.2
99.38-102.34 2.96 1.34
111.85-123.98 12.13 4.38
210.58-216.48 5.9 0.46
223.70-234.85 11.15 0.1
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