Drilling on the Leckie property has increased reserves to 193,000 tons grading 0.215 oz gold per ton, Stroud Resources (TSE) reports. Partner Exador Resources (TSE) is earning a 30% interest in the property, located near Temagami, Ont.
Results from the 30,814-ft drill program include a 30.7-ft intersection which graded 0.237 oz gold from a depth of 700 ft. Some of the other results include 8.1 ft assaying 0.25 oz gold and 18.7 ft grading 0.165 oz gold.
Exador, which can earn its interest by spending $1 million on exploration, plans to continue drilling the main zone and other targets this year. The company’s objective will be to define sufficient reserves to warrant dewatering the Leckie mine workings and begin underground exploration.
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