Anglo stops first hole short of targeted zone

Anglo Canadian Mining (TSE) has had to abandon its first hole short of the intended target at the MWF gold property in Matheson Twp., Ont. Anglo hit a badly fractured zone at depth which threw off the drilling angle and brought the drill too close to the property boundary.

With the first hole, the company had planned to test the downdip extension of a zone previously drilled by Falconbridge Gold (TSE).

Anglo is now drilling a second hole to intersect the zone at a greater depth.

The MWF property, sandwiched between Falconbridge Gold’s Owl Creek and Hoyle Pond gold mines, covers a structural continuity of gold-bearing formations in the area. Anglo is spending $250,000 to follow up geophysical anomalies and earn a 51% interest in the property. Kenora Gold Occurrences (ASE) is earning the remaining 49%.