GOLD: Carlisle outlines over 5M oz at Lynn Lake project

MANITOBA – A week ago CMJ readers learned that Toronto-based Carlisle Goldfields was pushing its Farley Lake gold deposit east of Lynn Lake toward the one-million-oz threshold. Now comes news that Farley Lake and the four other deposits...

MANITOBA – A week ago CMJ readers learned that Toronto-based Carlisle Goldfields was pushing its Farley Lake gold deposit east of Lynn Lake toward the one-million-oz threshold. Now comes news that Farley Lake and the four other deposits with resource estimates may contain more than 5 million oz of gold.

Taken together the deposits contain 15.01 million measured tonnes at 2.08 g/t Au, 25.46 million indicated tonnes at 2.11 g/t Au, and 51.77 million inferred tonnes at 1.37 g/t Au. The measured an indicated portion contains 2.75 million oz of gold and the inferred portion 2.28 million oz.

Moreover, Carlisle has identified a new area of interest west of the Linkwood project, the Dunvegan zone. And there remain many excellent exploration targets around the initial high grade Farley Lake discovery.

Resource estimates for the Lynn Lake gold camp

Project

Category

Tonnes (000s)

Grade (g/t)

Contained oz (000s)

MacLellan

Measured

15,010

2.08

2,018

 

Indicated

17,374

1.82

(incl above)

 

Inferred

1,898

2.01

127

Burnt Timber

Indicated

1,021

1.40

46

 

Inferred

23,438

1.04

781

Linkwood

Indicated

984

1.16

37

 

Inferred

21,004

1.16

783

Last Hope

Indicated

201

5.75

37

 

Inferred

1,067

5.29

182

Farley Lake

Indicated

5,914

3.21

610

 

Inferred

4,364

2.87

403

COMBINED PROJECTS

Measured

15,010

2.08

2.748

 

Indicated

25,458

2.11

(incl above)

 

Inferred

51,771

1.37

2.276

 

Carlisle is focused on producing a preliminary economic assessment for its Lynn Lake gold camp. The PEA will include the MacLellan mine, Burnt Timber, Linkwood and Farley Lake deposits. A central milling facility is proposed to treat ore from all deposits. The study will stage the four projects going into production over an eight to10 year period, most likely starting with the MacLellan mine. This proposed timing sequence will up front capital, allowing some capital costs to be covered by internal cash flow.

Visit CarlisleGold.com for additional information.

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