EXPLORATION 1997 — Corona Gold drills Troutfly Lake, program starts at Thunder Lake

A 12-hole program totalling 10,000 ft. is testing the Troutfly Lake properties, two groups of non-contiguous claims acquired by Corona Gold (CRG-T) northeast of Dryden, Ont.

The company acquired the 25,000-acre land package by staking and optioning ground on trend to the northeast of its Thunder Lake gold project. The newly acquired ground, which is near the past-producing Goldlund mine, contains several gold occurrences associated with shear zones and altered granodiorites.

Historic grab samples from the Graham Bousquet showing returned values of up to 6 oz. gold per ton, as well as drill values up to 0.76 oz. across 2.4 ft.

The properties also host a 100-ft.-wide, silicified, pyritized, carbonatized shear zone at the southern end of Troutfly Lake.

This zone contains the Calder Bousquet showing, where grab samples have returned values of up to 0.12 oz. and drill values up to 0.48 oz. over 6 ft., including 1.33 oz. over 2 ft. This system is on the same stratigraphic horizon as the Goldlund mine.

Corona Gold spent $750,000 exploring the Troutfly Lake properties last summer and fall. This work generated numerous targets which will be tested by drilling in the current program.

The first target is a northeast-striking lineament which hosts four known gold occurrences. Two of these were discovered and sampled last year and returned values of 0.13 and 0.31 oz. gold. Several geophysical targets will also be tested in the current program.

Meanwhile, Corona and partner Teck (TEK-T) continue to explore the Thunder Lake property, which, at last report, contained a resource of about 3 million tons averaging 0.26 oz. gold.

This year’s program will include 65,000 ft. of drilling, with assay results from the first eight holes expected shortly.