The company says recent surface sampling has yielded values up to 0.123 oz gold and 34.7 oz silver per ton. The precious metal values are associated with lead mineralization within a bedded siliceous horizon hosted by volcanic rocks.
In another area of the property geochemical results have returned values of 158 ppb gold in soils and 1,200 ppb gold in rock samples. A bulldozer is on the property and has begun stripping.
The property covers rocks of the Pacquet Harbour group, similar to those underlying the former Rambler mine, 10 km to the northwest.
Trading in the shares of Exmar was halted at press time pending release of news concerning the company’s Pukaskwa River gold property in the Mishibishu Lake area of northern Ontario. Exmar holds a one-third interest in the 274-claim property together with Caribbean Resources (VSE) and Mishibishu Resources (VSE). Under the terms of a option agreement signed last year, Hemlo Gold Mines (TSE) is earning a 51% interest in the property.
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