Toronto-based Trader has undertaken to explore the Ronnoco property in return for a 1-year option to purchase from Broulan Resources (TSE) and an estate, at $1.25 per share, their combined 74% stake (1.6 million shares) in Ronnoco.
Located in the Nighthawk Lake area, the claims have been explored on a number of occasions. But previous operators, including Pamour Inc. (TSE) didn’t stick with the project for very long, Trader Vice- president David Bell told The Northern Miner recently.
At Nighthawk Lake, Trader is testing the porphyry structure over a length of about 1,500 ft and to a depth of 600 ft. Here are some highlights from deep in-fill drilling results just released from east of Macklem Twp.: Hole Length Oz gold/ton 89-55 6 ft 0.107
20 ft 0.122
10 ft 0.287 89-56 30 ft 0.662
10 ft 1.887 89-57 28 ft 0.333
39 ft 0.107
123 ft 0.138 89-58 82 ft 0.106
96 ft 0.050
178 ft 0.075
10.5 ft 0.116 89-59 146 ft 0.128
With hole 89-63 in progress, Trader says it has completed 14,427 ft so far. The current program appears to indicate an improvement in grade from near surface drilling, according to Bell.
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