NORTHERN ONTARIO – Vancouver-based PLACER DOME says it has intersected the extension of the Red Lake high grade zone (HGZ) at depth on its Campbell gold mine property. The structure is part of the very rich zone that supports Campbell’s neighbour, the Red Lake mine owned by GOLDCORP. A secondary wedge hole targeting the Hanging Wall 5 zone, the most prolific mineralized zone within the HGZ, is in progress.
In September 2005, the Campbell exploration team developed a model predicting a down-plunge extension of the HGZ onto Placer Dome’s property. The first hold drilled intersected the projected HGZ structure at a depth of about 2,500 metres, 150 metres from the deepest HGZ drill results reported by Goldcorp. The hole returned a length weighted uncut average interval assaying 23 g/t Au over 3.4 metres, including 122 g/t Au over 0.6 metres. The HGZ geological structure was visibly identifiable in the drill core. The conceptual model predicts a possible vertical extent of the HGZ of over 700 metres on the western extent of the Campbell property, approximately 1,000 metres horizontally from current workings.
Detailed results of the recent drill program are available in the Newsroom at www.PlacerDome.com.