Drilling on the Peruvian B project, 200 km northwest of Goose Bay, Labrador, has returned disappointing results for partners Cartaway Container (ASE) and Peruvian Gold (VSE).
The former drilled four holes on a wide conductor but intersected no significant values. The property will be re-evaluated in the summer.
In the meantime, a rig is being moved to the Cabot Lake area, where Cartaway will drill-test several properties and conduct follow-up geophysics on others.
Two holes are planned on each of the Cabot North and Ikadlivik Brook properties, where Cartaway is earning a 70% interest from Freeport Resources (VSE).
Two holes will be drilled on the Cabot Lake South property to test two magnetic conductors. Cartaway can earn a 51% interest in the project from Silver Ridge Resources (VSE).
Cartaway is also planning to move a drill to its Cirque property.
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