Significant gold mineralization in two of three drill holes completed in December at the Obalski mine property at Chibougamau, Que., has been reported by Syngold Exploration of Toronto.
Hole 87-2, drilled to evaluate the C and D zones 1,000 ft west of the Obalski mine shaft, intersected a new sulphide zone at a vertical depth of 1,200 ft, with assays of 0.23 oz gold per ton over 17 ft and 0.21 oz over 4.5 ft. in separate intervals. The C and D zones were intersected as projected and were characterized by short sections of heavy sulphides with low grade gold values.
Hole 87-3, located 800 ft southeast of hole 87-2, cut 1.13 oz over 4 ft in what appears to be a downdip extension of the C zone explored to shallow depth by previous operators, Syngold says. The new sulphide zone was also intersected from a vertical depth of 900-1,000 ft and contained sub-economic gold values.
Hole 87-1, drilled 400 ft southeast of 87-2, also intersected the C and D structures as well as the new sulphide zone. Although ore-grade mineralization was not obtained, highly anomalous gold values indicate the potential for outlining significant gold reserves in this area of the property is high, the company says.
A 20,000-ft drilling program is currently in progress at the property, a former gold producer. Syngold is earning a 50% interest in the Obalski property from Greenstone Resources.
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