A 3-hole drill program on Montrose Gold Resources’ (COATS) property near Matachewan, Ont., has intersected some weak gold mineralization. The first hole returned the highest gold values including an average of 0.44 grams gold per tonne (0.01 oz. gold per ton) over 25 ft. and 0.29 grams per tonne over 15 ft.
The remaining two holes, drilled to test geophysical (IP) anomalies, intersected trace quantities of gold.
Recent speculation on the above results has sent the price of Montrose stock to as high as 90 cents from a pre-October range of 30-40 cents.
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