Exploration work completed by partners Quinterra Resources (TSE) and Pure Gold Resources (TSE) on the Central Patricia property near Pickle Lake, Ont., has returned strong gold values from the Springer zone.
High grade values from the first hole included 1.29 oz gold per ton across 5.6 ft. A second drill hole intersected a 2.5-ft section assaying 1.46 oz. Both high grade assays are uncut. Another hole intersected two sections which assayed 0.213 oz and 0.176 oz across 2.5 ft and 7.3 ft respectively.
The holes tested the newly discovered western extension of the Springer zone. During mining operations in the 1930s, the zone yielded a recovered grade of 0.76 oz — the highest such grade in the camp.
Exploration work completed last year succeeded in locating the extension of the Springer quartz vein shear system where it is truncated by a fault.
The $2-million exploration program just completed on the property was funded by the Golden Day Explorations and Co. Ltd. partnership, a Noramco Mining Corp. company. Noramco is also the controlling shareholder of Pure Gold and Quinterra. Following the expenditure, Pure Gold and Quinterra each hold a 42.5% interest in the property. Golden Shadow Resources (ASE) holds a 15% interest.
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