Golden Range encouraged at Hudvam

Toronto-based Golden Range Resources has reported a significant drill intersection from the Hudvam polymetallic property which it acquired recently as part of a backdoor agreement with Mingold Resources.

Located 30 miles northeast of Flin Flon, Man., Hudvam is considered the jewel of the Golden Range portfolio and it contains two zones with approximately 250,000 tons in each. To increase reserves at the property, Golden Range is spending $3 million before July on an exploration program managed by Toronto-based Mingold.

According to Golden Range President Peter Hunkin, the first drill hole from surface intersected a 38-ft core length of near-solid sulphides assaying at 0.054 oz gold per ton, 0.17 oz silver, 1.25% copper and 2.7% zinc.

The intersection which included an 11-ft section assaying 0.136 oz gold, 0.25 oz silver, 1.96% copper and 2.58% zinc, was encountered at the 1,400-ft level. Located below Zone 3, it is at least 400 ft from any previous drill hole.

While it’s too early to say that this result will change the reserve picture at Hudvam, Hunkin says it has increased the prospects for additional tonnage.

Mineralization appears similar to the No 3 zone, which bottoms out at the 250-ft level and contains 224,340 tons grading 0.069 oz gold, 0.50 oz silver, 2.13% copper and 2.20% zinc, Hunkin says.

With a second drill now on site, work has started on a 5,000-ft decline. Diamond drilling has also begun on a couple of grass roots gold properties included in the Mingold deal.

They include the 621-acre Sylvia property midway between Flin Flon and Snow Lake, Man., where six drill holes were drilled along a 600-ft strike length.

According to Hunkin, mineralization occurs in a strata-bound massive pyrite lens with values averaging 0.13 oz gold over an 11-ft core length at a vertical depth of 260 ft. In another hole drilled to a depth of 400 ft, Mingold encountered values of 0.102 across an unspecified core width. Low grade anomalous gold values were obtained in another four holes and Mingold is currently drilling an additional four holes for a total of 3,800 ft.

At the 1,183-acre Eel property, 55 miles southeast of Flin Flon, Hunkin says gold mineralization has been found along a 5,000-ft east-west trending em anomaly.

Previous drilling at Eel occurred over a 600-ft length along the eastern portion of the anomaly and produced 4.2 ft of 0.64 oz gold, 0.25 oz over 1 ft, 0.193 oz across 11 ft, and 4.5 ft of 0.429 oz.

The current drill program will continue to test the prospective zone, Hunkin says.