Phase II Drilling On The Destiny Gold Project
Results from the first eight of 14 holes completed during the Phase I program returned high grade values up to 44.39 g/t gold (1.29 ounces/ton) over 0.5m. The high grade quartz veins occur within multiple zones of wide shear-related alteration systems which carry gold values of interest including 21.0m averaging 1.39 g/t. The results from these first eight holes are very positive as they confirm continuity of gold mineralization between previously drilled holes, some of which were spaced from 100m to 200m apart. The mineralization remains open along strike and at depth.
The Phase I and Phase II programs are designed to expand the known NI43-101 compliant resources at the DAC Deposit through infill and step-out drilling. A Phase III program is slated for later this year and its size will depend on final results from Phase I and results from the current Phase II program. PFN has funded the $600,000 Phase I program and will continue to fund Phase II. The Phase I and Phase II programs are managed by Alto.
The property is located approximately 75 km north of
About the DAC Deposit
The main area of mineralization on the Destiny Gold Project is the DAC zone, which occurs over a strike length of about 600 m. In this area, four to five identifiable intervals of quartz veining and shear-related alteration zones carry high grade gold mineralization, with drill intersections up to 178.5 g/t gold over a drill width of 1.0 metres. The DAC zone hosts a NI 43-101 compliant indicated resource of 166,863 tonnes grading 6.88 g/t gold (36,892 ounces) and an inferred resource of 444,753 tonnes grading 4.46 g/t gold (63,839 ounces) calculated by W.A. Hubacheck Consultants Ltd. in 2007.
The company’s address is 2303 West,