Gold values encouraging on Westmin Manitoba bet

Westmin Resources reports it has intersected encouraging gold values in diamond drill holes at Utik Lake in northern Manitoba.

The property, located 75 miles east of Thompson, is being explored under terms of a joint venture with Barringer Magenta, and Polestar Exploration Inc. Polestar is funding the program and has earned a 5% interest in the property.

The property encompasses several gold-bearing iron formations from which gold values were obtained in surface prospecting programs.

The phase 1 program consisted of 285 line miles of radar-controlled airborne electromagnetic-magnetic surveying and 3,700 ft of drilling in 12 diamond drill holes. Eleven of the holes cover a strike length of about one mile of the Burnt Island iron formation, where a trench assayed 0.27 oz gold per ton over 6.5 ft.

The first drill hole beneath the trench penetrated three sections with significant gold values: 3.3 ft grading 0.10 oz, 9.8 ft grading 0.09 oz, and 3.3 ft grading 0.12 oz.

Hole No 11, which is 1,640 ft east of the trench, intersected 0.12 oz over a 2.3-ft length. Weak gold values were reported in the remaining drill holes.

Westmin says additional drilling is planned adjacent to the mineralized holes, as well as to the east, where several soil geochemical anomalies will be tested in the phase 2 program.

The program will also test four other gold showings on the property. Surface grab samples at Kay Lake, which is considered the most promising showing, assayed as high as 0.85 oz.

Upon completion of the phase 2 program Polestar will have vested a 15% working interest in the property with Barringer at 39.75% and Westmin, the operator, at 45.25%.