Some very encouraging assay results were received this week from two holes put down by joint venture partners Pan East Resources (ASE), Petroment Resources (TSE) and Gunnar Gold Inc. (TSE) on the Fifteen Miles Stream property in Halifax Cty., N.S.
One hole cut a series of gold- bearing rocks over a total core length of 69.6 ft. The average grade over that length was 0.687 oz gold per ton, according to Gunnar.
The widest single intersection in the hole was a 13.6-ft length averaging 0.768 oz.
The second hole cut a total of 18 gold-bearing zones over a total length of 68.9 ft. The average grade was 0.185 and the longest single intersection was 12.9 ft grading 3.43 oz.
The drilling program is part of a $5-million agreement between Petromet and Gunnar whereby Gunnar can earn a 25% interest in the property.
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