A first-phase exploration program scheduled to begin in early April is being planned by Melinga Resources (VSE) for the Griffin Lake property and Kognak River property in the District of Keewatin, N.W.T., about 360 miles north of Stony Rapids, Sask.
Melinga is earning a 55% interest in the Griffin Lake property from Comaplex Resources International (TSE) and Suncor by spending a total of $1.7 million by the end of 1993. Melinga can earn a 55% interest in the nearby Kognak River property from Comaplex by spending a total of $400,000 by the end of 1993.
The initial program, budgeted at $750,000, will include mapping and geophysical surveys as well as a minimum of 3,300 ft. of diamond drilling to test four gold-mineralized zones on the two properties.
James Brady, president of Melinga, said the most significant of the four zones is the Boundary (Griffin property) hosted by an overburden-covered, north trending, intensely altered and brecciated fault zone which has been traced over a strike length of about 1,300 ft.
Trenching on the zone returned assays ranging from 0.03 oz. gold per ton up to 1.8 oz. gold.
The first-phase program should be completed by July at which point the company will release further exploration plans.
Melinga is well funded with more than $2 million in working capital.
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