Drilling has encountered gold values on Champion Bear Resources’ (ASE) Swimit Lake prospect near Dryden, Ont.
Twenty-six holes were drilled to test the depth extension and lateral continuity of gold mineralization associated with the Shaft Quartz Vein. Ten holes encountered the vein above the 150-ft. level along a strike length of 230 ft. These holes have a weighted average grade of 0.67 oz. gold per ton over an average thickness of 2.3 ft.
An additional four holes drilled on a parallel structure, 2 km west of the shaft vein, intersected a wide zone of gold and silver mineralization in highly altered felsic rocks. The holes were drilled on two sections 120 ft. apart at minus 45 and minus 65. Significant assays include: 0.052 oz. over 20 ft. in Hole R-1, 0.067 oz. over 27.8 ft. (including 0.197 oz. over 6.5 ft.) in Hole R-2, and 0.035 oz. over 27 ft. in Hole R-4. Silver values in these holes are consistently five times those of gold.
The entire felsic sequence is anomalous in gold, with background values in excess of 100 parts per billion. The zone is open in all directions, with geological and geophysical data indicating a strike length in excess of 1,600 ft.
In other developments, the company has acquired the Plomp Farm Prospect, a gold occurrence situated along strike from Teck’s (TSE) Thunder Lake property, also near Dryden. Grab samples from quartz stringers in altered volcanic rocks on the property have returned gold values up to 1.123 oz. Another zone of altered felsic volcanic rocks on the property contains zinc and copper mineralization with gold values up to 0.12 oz.
A 25,000-ft. drill program is planned for both Dryden area properties.
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