Drilling results from the high-grade Bif Island area of the Damoti Lake property north of Yellowknife, N.W.T., indicate the northerly extension of the zone may be limited.
Partners Athabaska Gold (TSE), Gitennes Exploration (ASE) and Consolidated Ramrod Gold (TSE) are testing a 7.5-mile-long belt of geologically favorable iron formation on the property.
Hole D-31, released in March, returned a 25.6-ft. intersection from 685.9 ft. to 711.5 ft. grading 0.78 oz. gold per ton.
Recent drilling includes five step-out holes from D-31 with the best intersection reported at 3.1 ft. (from 635.4-638.5 ft.) grading 0.28 oz. gold. The joint venture still sees potential in down-plunge extension of the zone at a steep angle to the north.
At least four holes will test the down-plunge potential with the first hole targeted immediately beneath hole D-31.
Athabaska has a 75% interest in Damoti Lake, while Ramrod has an option to earn up to a 51% interest from Athabaska and Gitennes has a 25% working interest.
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