Decline is completed at La Ronge Jolu bet

An underground decline has been completed at the Jolu property in the La Ronge area of Saskatchewan. Royex Gold Mining is operator for the joint venture which includes Canadian Premium Resource Corp. and Mahogany Minerals Resources. The decline was advanced to the 1,952 ft mark by March 25 and to a vertical depth of 328 ft. Underground diamond drilling is presently under way at that horizon to upgrade reserves into proven and drill indicated categories, says Royex.

Drifting has tested portions of the Rod Main and Rod South zones on two working levels. At the 50 m level, 0.26 oz gold was returned across a width of 6.5 ft and a length of 202 ft in the Rod main zone. Values were even higher at the 75m level where 0.7 oz gold was reported across a width of 15.4 ft and a distance of 115 ft. The Rod South zone was intersected at the 75 m level and returned 1.18 oz gold across 6.5 ft over a distance of 131 ft. A raise has been driven between the two levels on the Rod main zone but assay results are pending.

Separately, Goldsil has announced results from its Oven Lake project in the northern part of the La Ronge gold belt. Seven widely spaced reconnaissance holes were drilled on a variety of structural targets and geochemical anomalies in the region. The most significant results occurred in hole No OV87-6 which intersected an extensive stockwork of pyritic quartz veins in the contact zone of the Corner Lake granodiorite. The hole returned 0.23 oz gold over 44.3 ft or 26.2 ft of 0.3 oz. Two other holes encountered marginally sub-economic values. Follow-up drilling is expected to begin this June.