Hidden Lake Gold seeks JV partner on NWT gold bet

The 22,000-acre Wheeler Lake property is about 55 miles north- northwest of Yellowknife.

During a summer reconnaissance work program, the company collected a total of 384 rock samples from iron formation units extending across the property. More than half of the samples yielded anomalous values.

Hidden Lake president Evans Dick said the company is considering various joint venture possibilities with senior companies on its 100%-owned Wheeler Lake claims.

At the western end of the claim block, a value of 0.27 oz gold per ton across 10 ft was encountered in a bed of iron formation 132 ft thick. Grab samples of sulphide-rich material assayed 0.27 oz gold per ton, and a coarse nugget of visible gold was also identified in a quartz vein cutting the iron formation.

In another area, nearly 1.8 miles along strike, values of 0.08 oz gold per ton over 25 ft, including 5 ft of 0.22 oz gold, were obtained in a 53-ft wide band on iron formation. Grab samples from other showings in iron formation on the eastern half of the property include assays of 0.17 oz and 0.50 oz gold per ton.

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