Glimmer Resources (VSE) says it should soon have a preliminary estimate for the overall tonnage and grade of a gold zone on its property held jointly with Noranda (TSE) in Beatty and Hislop twps., Ont. The 16-claim property is 60% owned by Noranda with the remaining 40% interest held by Glimmer. Multiple high-grade gold zones have been intersected over narrow widths in more than 20 holes drilled to date on the prospect.
Highlights from six recently completed holes are as follows: Hole Width Grade (ft.) (oz./ton) 22 3.3 0.18 23 12.5 0.09 3.3 0.88 24 6.6 0.32 3.3 0.25 25 3.3 1.00 3.3 0.37 26 3.3 1.00 6.9 0.82 27 3.3 0.33 3.3 1.00
The above results came from widely spaced holes within an area measuring roughly 650×700 ft. The deepest hole probed a depth of 800 ft. below surface.
Glimmer President George Kent says the company now has a better understanding of the geology and structural setting of the gold mineralization, and a preliminary estimate of the discovery zone’s tonnage and grade is expected soon.
Be the first to comment on "Reserve estimate due soon on Glimmer bet"