Drilling opens up Vault

Drilling at the Meadowbank gold project, near Baker Lake, Nunavut, has increased the size of the Vault gold zone.

Cumberland Resources (CBD-T) recently sank 19 widely spaced holes into the zone, mainly to test it along strike and at depth. As a result, mineralization has been extended to 850 metres in length, 300 metres in width and to 120 metres below surface.

Results from the latest holes varied from 1.94 to 10.96 grams per tonne over 1.66-13.4 metres. Highlights include:

– hole 35, which averaged 8.09 grams over 4.79 metres (starting at a vertical depth of 293 metres);

– hole 39, which averaged 8.22 grams over 4.25 metres (starting at 121 metres);

– hole 42, which intersected 3.75 metres (starting at 155 metres) grading 8.06 grams; and

– hole 46, which intersected 4 metres (starting at 80 metres) grading 8.93 grams.

Several holes contained higher-grading sub-intervals, and mineralization remains open along strike and downdip.

Discovered in 2000, the Vault zone hosts inferred resources of 3.4 million tonnes grading 3.9 grams gold. The estimate excludes the recent drill results.

In addition to Vault, the Meadowbank project hosts four near-surface gold deposits that carry a total measured and indicated resource of 7.4 million tonnes grading 6.12 grams gold. Including Vault, another 6.8 million tonnes grading 4.75 grams gold are categorized as inferred.