Spectacular shows of gold have been confirmed by the Saskatchewan Mining Development Corp on ground held by the company and partners in the La Ronge area of northern Sask.
smdc geologists are taking credit for the gold discoveries which straddle the boundary of the Transom Lake and Fork Lakes projects. Last June, smdc geologists discovered the Jasper gold zone, a major shear zone within the Island Lake intrusive. This work showed the zone to strike across the claim boundary onto property known as the Transom Lake project.
Partners at Fork Lakes include smdc (36%), Golden Rule Resources (30%), Mahogany Minerals Resources (19%) and Shore Gold Fund (15%). At the adjoining Transom Lake project, smdc holds 19%, operator Goldsil Resources (51%) and Golden Rule (30%). News of the rich gold assays from surface samples at Transom Lake helped propel the share price of Toronto Stock Exchange-listed Golden Rule to a high of $9 from $3.
On the Fork Lakes property, the mineralized zone has been traced for 550 m.
It varies in width between 2.5-3.5 m, Jan Bloemraad, exploration manager with smdc, tells The Northern Miner.
Trenched samples across these widths assayed uncut grades of 3.33, 0.242, 0.51, 0.42, 1.63 and 0.87 oz gold per ton. High gold values were repeatable upon reassay, smdc reports.
On making the discovery, Mr Bloemraad says that the information about the strike and location of the zone was made known to the Transom Lake joint venture. Exploration for the extension of the zone on this property led to additional high grade gold discoveries. Average grades exceed 0.5 oz from surface samples.
The zone, which has never been drilled from either property, will be drilled this winter.
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