Gold zones confirmed at Moss Lake property

Results from the first 11 holes of winter drilling are confirming the presence of gold zones at Moss Lake Gold Mines’ (TSE) project near Shebandowan, Ont.,

The property was previously explored by the Central Crude-Tandem Resources-Storimin Exploration joint venture. From 1986 to 1989, about 1,300 metres of underground development were carried out. Widely spaced drilling returned intercepts of up to 6.7 grams gold per tonne over 17 metres.

The current program is aimed at proving internal continuity of higher-grade zones (within a low-grade resource estimated at 60 million tonnes grading 1.1 grams gold to a depth of 250 metres) that would be amenable to conventional underground mining.

The new drilling began in an area 244 metres west of the old underground workings. Two holes confirmed the PA-2 zone over a known strike length of 122 metres; one intersected 2.7 metres of 7.7 grams gold per tonne and the other intersected 15.9 metres of 3 grams gold (including 3.5 metres of 5.3 grams gold).

The remaining drill holes, which tested the deposit below an existing drift at a depth of 70 metres, confirmed continuity of the previously discovered zone to a depth of 152 metres across a strike length of 122 metres. The new holes graded 6.5 grams over 5 metres, 4.2 grams over 6.1 metres, 3.8 grams over 3.5 metres and 11.8 grams over 3 metres. All other holes returned values of fewer than 3.4 grams gold.

Drilling is proceeding in an area of the QES zone, where previous, widely spaced drilling encountered intersections of 5.2 grams gold over 6 metres and 5.3 grams over 16 metres. These holes cut the zone at a depth of 244 metres and are 137 metres apart. Five holes will be drilled in this area in an effort to establish continuity and expand the zone.

Moss Lake expects drilling, to be complete by mid-April, to be followed by an economic evaluation.