Toronto-based Nahanni Mines (TSE) says ground geophysical surveys were completed last month on its South Pipestone gold prospect about 50 km northeast of Timmins, Ont. The survey work identified three anomalous zones that are currently being tested by drilling, said President J.A. Harquail. The program is being funded by proceeds totalling $91,700 from a recent flow-through offering of 600,000 shares.
Elsewhere, detailed induced polarization surveys were recently completed over part of Nahanni’s 50% owned Michaud Twp. claim group. That gold property, shared with Moneta Porcupine Mines (TSE), covers a 6-km stretch of the important Destor-Porcupine fault zone. Nufort Resources (TSE) retains a 7% net proceeds royalty on any mineral production from the 3,900-acre property.
Harquail said a drill program is expected to resume on the Michaud property in the near future. Previous drilling on the property’s H-108 zone has yielded values up to 0.25 oz. gold per ton over 22 ft., he said.
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