Phase 1 drilling complete at Parklane’s Spooner bet

The initial phase of a trenching and diamond drilling program at Vancouver-listed Parklane Technologies’ Spooner gold property near Beardmore, Ont., is now complete.

The Calgary company says four new “well mineralized veins” were discovered through diamond drilling south of the Contact/Power structures. Parklane mining operations manager Gordon Wilson says these generally parallel the Power vein and are persistent and well mineralized.

According to the company, one new vein intersected in hole pl- ddh-10 showed very strong mineralization over a 5-ft width, minor visible gold being observed.

Two of the veins have been drill- tested over a 500-ft strike length and appear to be open-ended at this stage, the company says. Further drilling will begin shortly to evaluate the Contact and Power veins at a depth below a thin diabase sill.

In the late 1930s, Northern Empire Mines pushed to the 1,725-ft level from their adjacent mine onto the Spooner property along the Power vein. A total of 62 samples were collected returning an average grade of 0.20 oz gold per ton.

Mr Wilson says random samples from a recently stripped section of the Contact vein just east of the Spooner shaft returned the following gold-in-rock values: a 2-ft section assaying at 0.41 oz plus an additional 2-ft section assaying 0.30 oz.

According to Mr Wilson, 10 drill holes have been completed over a 500-ft strike length. Assay results from selective sampling of certain intervals have been returned on the first hole only with key intersections as follows: 0.25 oz along 4.5 ft, 0.74 over 1 ft and 0.90 over 1.5 ft.

During the late 1930s, all high grade ore received during underground development was stockpiled on surface and adjacent to the main shaft. While Parklane recently sampled some of that, the company says it is sufficiently encouraged to begin detailed sampling of the core of the pile. It represents actual ore extracted from the “Power vein” underground. Results from preliminary surface sampling are as follows: hole SP-1A assayed 0.22 oz, hole SP-3 assayed 0.16 oz and SP-9 0.122 oz.