Canadian Mining Journal

News

GOLD: Hints and promises across Canada

The price of gold has hit an eight month low, dipping below US$1,210 for a few hours this morning (Sept. 25). But the yellow metals retains it lustre for some explorers, especially when bonanza grades are encountered. He's a brief rundown.



The price of gold has hit an eight month low, dipping below US$1,210 for a few hours this morning (Sept. 25). But the yellow metals retains it lustre for some explorers, especially when bonanza grades are encountered. He’s a brief rundown.

Toronto-based AurCrest Gold is encouraged by results from the two holes it drilled this summer at its Richardson Lake property 115 km northwest of Red Lake, ON. A 1-metre intersection at the bottom of hole No.8 graded 15.48 g/t Au. This is the highest grade the company has encountered at Richardson Lake. (AurCrestGold.com)

Lake Shore Gold of Toronto has drilled new zones of high grade gold mineralization that it hopes will allow it to increase reserves at the Bell Creek mine near Timmins, ON. Drilling below the 925 level – where assays included 9.98 g/t over 10.3 metres, 5.60 g/t over 16.9 metres, 9.79 g/t over 9.6 metres, and 3.09 g/t over 23.3 metres including 6.81 g/t over 7.4 metres – is of particular interest in this respect. Grades and widths of zones close to active mining have been confirmed, as has high grade mineralization within untested gaps of the Labine deposit North A and NA2 zones from the 775 to 925 levels. (LSGold.com)

For fans of gold-tungsten mineralization, Mega Precious Metals of Thunder Bay, ON, reports that the most recent drill program at its Monument Bay project 340 km southeast of Thompson, MB, encountered multiple high grade gold as well as gold-tungsten structures near surface. The best intercepts include 27.3 g/t Au and 0.74 WO3 over 1.5 metres and 8.28 g/t Au and 0.05% WO3 over 31.3 metres. Visible gold is also reported. (MegaPMI.com)

Rubicon Minerals Corp. of Toronto intersected 136.5 g/t Au over 4.0 metres during infill drilling at its Phoenix property in the Red Lake, ON, camp. The company says results such as these confirm the continuity of the F2 deposit. (RubiconMinerals.com)

Vancouver’s Spanish Mountain Gold says the high grade area within the pit continues to expand at the Spanish Mountain gold project in central British Columbia. The longest intersections were 50.29 metres at 1.20 g/t, 48.77 metres at 1.41 g/t, 46.63 metres at 1.06 g/t, 33.5 metres  at 1.10 g/t, 28.96 metres at 1.66 g/t, and 27.43 metres at 1.04 g/t. (SpanishMountainGold.com)