Although assay results are not yet available, the first drill hole on McNickel Inc.’s Lac St. Jean property has intersected massive sulphide mineralization near previous surface showings. Assay results will be released when available, the company said. The depth of the intersection was not disclosed. McNickel gained 10 cents to close at $3.00 after 45 transactions.
Carolin Mines which owns the past-producing Ladner Creek gold mine near Hope, B.C., lost 8 cents to close at 30 cents . A prevailing low gold price can’t be doing much to improve the economics of that low grade deposit where reserves average 0.12 oz gold per ton.
Exploring a Chester Twp, Ont., gold prospect is Young-Shannon Gold Mines. Although the company hasn’t released a geological reserve estimate for the prospect, president Bruce Young says an underground decline is planned in the near future. Drilling has encountered at least three separate gold zones, and more assay results are awaited from some 300 additional samples. The issue slipped 10 cents to $1.30.
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