Bema and Wolfden cut high grade gold at Monument Bay

Bema Gold (BGO-T) and Wolfden Resources (WLF-T) are firming up the gold resource and cutting significant high-grade gold at their Monument Bay project 340 km east-southeast of Thompson, Manitoba.

Thirteen holes cut the Twin Lakes zone highlighted by hole 260, which cut 4.8 metres grading 31.7 grams gold.

This interval included one metre grading 76.9 grams gold and 1.2 metres grading 58.4 grams gold per tonne.

Hole 251 cut 23.58 grams gold over 2.6 metres. This included 0.6 metre grading 42.1 grams gold plus one metre grading 31.6 grams gold per tonne.

Four other holes in this zone cut 0.3-0.8 metre grading as high as 31-49 grams gold per tonne.

Six of the holes cut 0.35-2.7 metres grading 4-14.3 grams gold per tonne.

Infill drilling is firming up the central areas of the Twin Lake and Seeber River zones. In addition some stepout holes are defining the geometry of the mineralization.

One hole drilled at each of the zones failed to cut significant mineralization.

Drilling of the Seeber River zone was highlighted by hole 264, which cut 1.2 metres grading 106 grams gold. This included 0.2 metre grading 625 grams gold per tonne.

Hole 265, drilled from the same setup but at a steeper angle, cut 0.3 metre grading 92.7 grams gold followed 46 metres farther down hole by one metre grading 210 grams gold.

Hole 269 cut 1.8 metres grading 119 grams gold per tonne. This included a 0.5-metre intercept, which graded 410 grams gold.

Four other holes cut high grades of 20-77 grams gold over widths of 0.4-0.5 metre and another four holes cut 0.3-1.8 metres grading 1.5-13.9 grams gold per tonne.

Drilling is ongoing. Drilling of the central areas is locally at 12.5-15-metre spacing.

An inferred resource of 1.07 million tonnes grading 15.4 grams gold per tonne was estimated prior to May of last year. This estimate used an eight-gram gold per tonne cutoff.

The property is underlain by a greenstone belt comprised of sediments and lesser volcanics intruded by granitoid plutons. Mineralization is hosted by sheared, silicified and sericitized volcanic and sedimentary rocks. High gold grades are associated with veins.

Bema Gold holds a 70% interest in the 87-sq.-km property while Wolfden owns 30%.

Hydro lines currently run as far as Red Sucker Lake, 60 km southwest of the property.