Intersections At Lingman Lake Gold Project
TORONTO - Signature Resources Ltd. reported the first three diamond drill holes (515 meters) of its ongoing 15 diamond drill hole (3,260 meters) winter-spring drill campaign at its 100% owned Lingman Lake Gold Project. Drilling was designed to expand the known envelope of mineralization on the western side of the diabase dike. The Company expects several batches of diamond drill hole assay results to be released.
Highlights: Drill hole 21-03 intersected 14.90 g/t gold over 1.0-meter in the Central Zone; Drill hole 21-15 intersected 5.81 g/t gold over 6.0-meters, including 12.20 g/t over 1.0-meter at a vertical depth of 80-meters in the West Zone; A 3D Induced Polarization (IP) survey is scheduled for June 14th to help fingerprint the historical resource and to use that as a signal to guide the summer drill campaign; A property wide LIDAR survey is expected to commence soon after the 3D IP. The survey will enhance surface and bedrock features to assist in target selection for the summer’s prospecting program; and A high resolution Magnetic and Matrix Very Low Frequency Electromagnetic (VLF) survey is scheduled to flown over the new claims this summer.
Robert Vallis, President, CEO, and Director, said, “We are incredibly pleased that the team successfully intersected and expanded the Lingman Lake West Zone of mineralization. Drilling continues to expand both strike and depth potential and remains open to further drilling. These three holes highlight strong geological-alteration and structural features conducive to gold mineralization. We believe we have good potential to expand the West Zone’s historical estimate and look forward to the next batch of results which is expected to be ready in the coming weeks. Nordmin Engineering continues to work on converting the historical estimate to NI 43-101 compliance in conjunction with a maiden NI 43-101 resource within the next 18 months. The upcoming geophysical surveys will help us to plan the next phase of drilling during the upcoming summer program.”