Normabec Mining Resources (NMB-V) released some promising drill results from its Pitt gold property 35 km north of Rouyn-Noranda, Que.
The company drilled nine holes for a total of 5,180 meters at its property located along the Porcupine-Destor break in the Abitibi region.
The best intersections came from two holes in zone 1. Hole PG2008-08 returned 5 metres graded 11.52 grams gold per tonne and hole PG2008-09 returned 11 metres grading 9.13 grams gold. True widths are estimated at 80% of the core lengths given.
Normabec says these two holes were drilled about 100 metres apart on either side of hole PG2008-05, which was drilled last winter and returned 1.5 metres grading 31.75 grams gold per tonne.
Mineralization at the Pitt gold property can now be traced for 500 metres laterally and to a depth of 800 metres.
Most of the higher grades are found below 300 metres, which is typical in this area.
The company has been exploring the Pitt property since 2005. The company acquired the last 20% of the property in the fall, but the former owners still hold a 1% net smelter returns royalty that can be bought back for $1 million.
Normabec shares were down 1.5¢ today at 14¢ apiece on a trading volume of about 250,000 shares.
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