High-Grade Gold Discovery At
TORONTO, ON - Pele Mountain Resources Inc. reported that channel sampling at its Highland Project has returned high-grade gold and associated visible gold at the recently-discovered Lone Ranger occurrence. Highland is 100-percent owned by Pele Gold Corporation, a wholly owned subsidiary of the Company.
Channel samples were cut in three areas over approximately 90 m of strike length. The channel cuts were from 7.9 m to 13.4 metres long with individual samples approximately 2 m in length. A high value of 34 g/t over 2 m was located in the central channel associated with a 0.3 m wide quartz vein. Follow up field examination of the quartz vein associated with the high grade sample noted visible gold. The other channel samples returned gold values from anomalous to 1.7 g/t over 2 m.
Pele President and CEO Al Shefsky stated, "Our discovery at Lone Ranger is exciting because of its impressive size and widespread quartz stockwork seen throughout. The presence of high-grade and visible gold within the stockwork substantially elevates the potential for this discovery to host a large tonnage gold system."
Shefsky continued, "Our recent efforts have focused primarily on advancing toward sustainable development of our Eco Ridge Mine project while bringing in quality partners like
The Highland Project, covering more than 10,000 acres, is located in the Michipicoten Greenstone Belt, approximately 100 kilometres to the southeast of Hemlo in
The company’s address is