Gammon Lake cuts high grades

Drilling at the Ocampo gold-silver project in Mexico’s Chihuahua state continues to return heartening results for Gammon Lake Resources (GAM-T).

Hole 110 cut 44.2 metres (between 98.1 and 142.3 metres) grading 1.59 grams gold and 79 grams silver per tonne. The hole was collared between the Plaza de Gallo and Refugio areas, where earlier surface sampling returned only anomalous values.

Also, hole 107 identified a new area of mineralization, dubbed El Rayo, by returning 1.5 metres (57-58.5 metres) grading 52.2 grams gold and 1,985 grams silver. The results confirm earlier surface results.

Meanwhile, ongoing drilling in the Plaza de Gallos and Refugio areas continues to confirm the continuity of mineralization. One of the better intervals, cut by hole 97, averaged 2.88 grams gold and 225 grams silver over 22.9 metres (29-51.8 metres).

In 1998, Australia-based Computer Aided Geoscience pegged Ocampo’s global resource at 5.8 million tonnes grading 2.2 grams gold and 100 grams silver per tonne. The estimate is based on a cutoff grade of 1 gram gold-equivalent (50-to-1 silver-to-gold ratio) and incorporates results from 59 reverse-circulation holes drilled prior to Gammon Lake’s involvement.

Gammon Lake currently has four drills turning at the Ocampo property. Sampling and mapping surveys are in progress, as well.

The Ocampo project comprises two properties covering a total of 25 sq. km. Gammon Lake owns a 60% interest in the Brenda Mine property, which can be increased to 100%, and it can acquire a 49% interest in the surrounding Soyopa claims from a Mexican company. The Plazo de Gallos area is included in the Soyopa claims.