Drilling on Block A at the Detour Lake gold property in northeastern Ontario continues to yield high gold grades for equal partners Trade Winds Ventures (TWD-V, TWDIF-O) and Pelangio Mines (PLG-T, PLGOF-O).
The best of four holes on section 15,940E yielded 12.9 grams gold per tonne over a true width of 2.45 metres. Another hole included a 1.4-metre interval running 23.9 grams gold. Both holes cut multiple zones. The two remaining holes did the same, but returned lower grades.
Another pair of holes, some 720 metres to the east, encountered 5.6 metres of 8.4 grams gold, including 1.4 metres of 25.2 grams gold, and 2.8 metres of 4.8 grams gold.
The latest fences of holes are located 80 and 800 metres to the east of previous drilling which returned up to 64.4 grams gold over 6 metres.
The drilling tested the M Zone, an east-striking structural corridor that controls much of the mineralization on the property.
Meanwhile, stepout drilling some 400 metres west of all previous holes is believed to have encountered another alteration zone, less than 10 metres from the surface, along the upper contact of the M zone. Assay results are pending for three holes there.
In related news, Trade Winds recently consolidated ownership of the 9.6-sq.-km Gowest property, immediately to the west, by picking up Gowest Amalgamated Resources’ (GWA-V, GWSAF-O) 40% stake in return for just more than 8 million shares.
The shares give Gowest a 15.1% stake in Trade Winds; Gowest plans to distribute the shares to its existing shareholders. The company also retains a 1% net smelter royalty on the property. Trade Winds can halve the royalty by paying $750,000 up to a year after first production.
The Gowest property contains the westward extension of the M zone structural corridor.
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