Junior Glimmer Resources (VSE) has released final results from the last hole in a drill program on the Hislop-Beatty property in northeastern Ontario.
Hole 142 featured five intercepts, including an uncut assay of 116.4 grams gold per tonne over 1 metre. All other assays ranged between 1.3 and 23.8 grams over widths of 1.2-1.6 metres. The assays averaged 16.2 grams across 4.8 metres.
Independent calculations indicate the Hislop-Beatty property contains 1.2 million tonnes averaging 9.9 grams and will yield 5 million grams or 160,000 contained oz.
The project is a joint venture with Hemlo Gold Mines (TSE) and is along strike from the Holloway project now controlled by Hemlo Gold and Teddy Bear Valley Mines (CDN). (Freewest expects to sell its 33.86% share to Hemlo following the due diligence process.) Minable reserves at Holloway stand at 7 million tonnes at 6.86 grams gold per tonne.
In other news, Glimmer started drilling one of two holes in an effort to test magnetic lows associated with the Destor Porcupine fault zone. The lows are similar to those at the Hislop-Beatty property, which host the East and West zones.
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