The first phase of diamond drilling at the Horwood Twp. property of Morgain Minerals (VSE) is nearly finished, and the surface showing appears to persist as a zone of sub-economic gold mineralization at depth.
The showing was tested over a strike length of 300 metres and to a vertical depth of 75 metres, with seven drill holes intersecting low gold values over widths of 22 to 45 metres. The highest-grade interval had an average gold concentration of 1.79 grams per tonne over 2 metres.
Another two drill holes tested the structure at vertical depths of 75 metres and 250 metres; however, assay results are not yet available. Four other short drill holes are planned.
More drilling is planned for other targets along the known 5-km shear zone. A recent private placement raised $802,000 for exploration.
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