Drilling will resume shortly on the Goodfish gold property near Kirkland Lake, Ont., according to owner Glencairn Explorations (ASE). The drilling program will focus on the A zone, which returned an uncut value of 0.26 oz. gold per ton over 90.5 ft. in March. Glencairn is optioning the property to International Platinum (TSE), which can earn a 51% interest in the property by completing a further 7,000 ft. of drilling and making a cash payment to Glencairn.
International Platinum recently raised $750,000, some of which will be put toward the exploration program on Goodfish, the company said.
In Brazil, late equipment deliveries, personnel shortages and difficulties stripping the sand overburden have delayed production at Glencairn’s Raw Bean diamond mine. But the company says it has been able to confirm expected diamond grades of about one carat per cubic metre of gravel at the mine, and will make its first diamond sale this month.
Glencairn is in the midst of solving its production problems, and says the mill is now fully functional with the exception of the ball mill and grease tables.
The company has recently completed a private placement worth $273,700.
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