Exall hits high-grade mineralization at Glimmer mine in Ontario’s north

Ongoing diamond drilling at the Glimmer gold mine near Matheson, Ont., is returning excellent results for Exall Resources (EXL-T).

The company has a 65.53% interest in the project, with the remainder held by Glimmer Resources (GME-V). In the latest round, 4,000 metres were drilled in an effort to test for an extension to the known strike and dip lengths of the East and West zones.

Of the holes drilled, 80% hit ore-grade mineralization over minable widths of 1.8 metres, while 29% yielded values greater than 34.29 grams gold per tonne to a maximum of 420 grams gold over lengths varying from 0.3 to 0.91 metre.

Highlights include: hole 249, which hit 3.46 metres grading an uncut 193.11 grams gold; hole 218, which intersected 21 metres averaging 9.94 grams gold (cut to 34.29 grams); and hole 186, which returned a cut grade of 27.46 grams gold over 5.17 metres.

Exall reports that the downdip extension of the West zone was intersected in hole 218.

At last report, minable reserves at Glimmer stood at 500,000 tonnes grading 12.34 grams gold. The deposit remains open both at depth and along strike.

Recent mining has shown the Main vein to be continuous in the West zone.

Commercial production is targeted for July at an annual rate of 65,000 oz.

gold. Operating costs are estimated at US$220 per oz.

Mined material is being shipped to the St Andrew Goldfields mill in nearby Stock Twp., where the first crushed ore was recently fed to the grinding and leaching circuit.