Gammon Lake cuts more gold, silver

Drilling by Gammon Lake Resources (GAM-T) continues to intersect encouraging gold-silver mineralization in the historic Ocampo mining district of Mexico’s Chihuahua state.

Hole 80 cut 33.53 metres grading 3.51 grams gold and 136.14 grams silver per tonne, including 12.2 metres of 6.88 grams gold and 256.38 grams silver. The intersection, which begins 119.48 metres downhole, also includes 7.8 metres that passed through open workings. Highlights for another three holes recently completed include:

– 12.19 metres grading 0.29 gram gold and 4.48 grams silver, plus 10.67 metres of 0.32 gram gold and 14.63 grams silver, in hole 77;

– 45.72 metres grading 1.06 grams gold and 44.75 grams silver, including 15.24 metres of 1.77 grams gold and 82.22 grams silver, in hole 79; and

– 54.87 metres grading 1.07 grams gold and 56.06 grams silver in hole 81.

All were collared in the Plazo de Gallos area, where resources are pegged at 5.81 million tonnes grading 2.2 grams gold and 100 grams silver. The estimate was made in 1998 by Australian-based Computer Aided Geoscience, using results form 59 reverse-circulation holes drilled prior to Gammon Lake’s involvement.

Gammon Lake currently has four drills turning in the Plaza de Gallos area, and ground crews are scouring the rest of the property for new targets. Drilling will soon switch to the La Estrella, Belen, El Peol, San Ramon and San Jose targets.

The Ocampo project comprises two properties covering a total of 25 sq. km. Gammon Lake owns a 60% interest in the Brenda Mine property, which can be increased to 100%, and it can acquire a 49% interest in the surrounding Soyopa claims from a Mexican company. (The Plazo de Gallos area is included in the Soyopa claims.)