Preliminary assay results from Marshall Minerals’ (ASE) Sangold property west of Timmins, Ont. have produced some encouraging results.
They include a 38.5-ft intersection which assayed at 0.30 oz gold per ton. The intersection was pulled from one of the first three holes of a drill program on the property which is held by Marshall Minerals (55%) and a private company called Gail Resources (45%).Under an agreement, they will both reduce their respective interests to allow Gold Vessel Resources (ASE) to earn a 30% working interest after the latter company has spent $4 million.
The first three holes were drilled to test a freshly stripped area where the joint venture uncovered several potential gold bearing vein systems.
The preliminary results are as follows: Hole No Length (ft.) Oz Gold/ton SG-88-09 7.5 0.11 2.5 0.31 SG-88-10 7.5 0.17 5.5 0.25 SG-88-11 38.5 0.30 3.0 0.23 7.5 0.88 5.0 0.31 5.0 0.30 7.5 0.12
Marshall Minerals Chairman Harry Quint says he is still awaiting assay results from 10 additional holes completed along a 250-ft strike length centered on a previously stripped area. Pending results of the program more stripping is planned, he said.
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