Toronto-based Kingswood Resources (ASE) has reported encouraging gold values from two recently completed holes on the Devon property in Beatty Twp., east of Matheson, Ont. Kingswood is earning a 70% interest in the 12-claim property from Toronto junior Dalhousie Oil (COATS).
The company said hole 5 intersected three zones with values of 0.14 oz. gold per ton across 2.9 ft., 0.40 oz. over 5.0 ft. and 0.09 oz. across 10.0 ft. Hole 6, drilled 200 ft. to the west of hole 5, yielded a high-grade value of 0.99 oz. gold across 6 ft. at depths of around 200 ft.
The above results came from an area between 800-1,000 ft. west of hole 4, which previously intersected values of up to 2.9 oz. across 6 ft. at depths of around 69 ft.
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