Ego drill results spark trading spree

Last week, the price of Ego’s shares more than doubled to $1.05 on heavy volume, before falling back to around the 79 cents level.

Wild share price swings are nothing new for Toronto-based Ego, which is controlled by mining promoter Edward Wenger.

“I know I’m a promoter,” Wenger told The Northern Miner, “that’s how I make my living.”

But Wenger said he feels the recent drill results from the BB Lake property are significant and warrant more follow-up.

The most recent Ego share price volatility preceded the release of drill results, including a wide intersection which graded 16.68% zinc over 23 metres in hol e 8.

That hole was just one of eight recently-completed holes in a $500,000 drilling campaign. The program is testing an area where previous work h ad outlined geol ogical reserves of one million tons averaging 10% zinc, 1% lead and 3 oz silver per ton.

Highlights from the recent Ego drill results are as follows: WidthZincLeadSilver Hole(m)(%)(%)(g/t) 1 4.612.74.2 0.13 7.5 5.54.1 0.07 2 1.6 7.80.1 8.06 3 2.5 5.50.1 0.10 1.4 6.30.1 0.08 6 4.0 8.60.4166.90 7 2.9 5.1tr 93.94 5.8 7.4tr 82.35 3.6 5.90.2166.53 8 4.0 0.5trtr 23.016.60.7159.15

Hole 8, the deepest drilled to date at 354 m, cut the same horizon as that intersected in hole 7 at a shallower depth of about 200 m. The two hole s are on th e same section, and the wide interval in hole 8 is partly attributed to the hole ‘s steep dip angle of 85 degrees .

The sulphide mineralization consists of iron-rich sphalerite, pyrite, and galena within quartz- biotite gneiss and volcanic rocks.

Ego has an option to earn a 100% interest in the property from Initiative Explorations (COATS) by spending $1.5 million over three years. Asquith Resources ( COATS) is earning a 25% interest from Ego by contributing additional funds to th e current exploration program.

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