Recent drilling by Storimin Exploration has confirmed a previously reported gold discovery in Moss Twp., about 70 miles west of Thunder Bay, Ont. (N.M., Aug 25/ 86).
Latest drilling results include results from hole No. 86-17 which returned three good intersections. The most interesting was a 9 ft section grading 0.49 oz gold per ton that came directly under a 31-ft section grading 0.19 oz gold per ton in previously reported hole No. 86-10.
Other intersections in No. 86-17 were 0.13 oz over 3 ft and 0.17 oz over 3 ft.
Holes 86-11 and 86-14, drilled to the southwest, gave some sub- economic gold values while 86-12 and 86-13, drilled under 11 and 14 respectively, returned 0.12 oz over 16 ft and 0.294 over 5 ft respectively.
Hole 86-15, about 80 ft east of 86-10 and 86-17, returned 11 ft of 0.17 oz and 5 ft of 0.11 oz.
Assays have not been received on three other holes. One is under 86-16 and two are about 80 ft further east.
As well, the company is awaiting results from a wildcat hole, 86-19, drilled 800 ft along strike to the northeast on a strategically located electromagnetic anomaly. It has also picked up two new zones about 2,000-3,000 ft to the southwest where grab samples gave values of 0.016-0.022 oz. The company plans to follow up the surface findings to the southwest with a program of stripping with a bulldozer as well as continue to work to the northeast of the discovery with drilling.
Storimin is operator on the project which is a 50-50 joint venture with Tandem Resources. Tandem is funding the current program by taking up to one million Storimin shares at 70 cents per share for the $700,000 which would ultimately give Tandem control of Storimin.
So far about $200,000 has been spent on the program. A minimum of 20,000 ft of drilling will be done with 10,000 ft already completed.
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