ONTARIO – Lexam VG Gold of Toronto has released updated resource numbers for the former Buffalo Ankerite mine in Timmins. The company considers the results "favourable" due to the proximity of the project to mining infrastructure in the area.
Two zones, the North and South, are summarized. They include 2.86 million indicated tonnes averaging 2.54 g/t Au and containing 235,000 oz of gold. There are 2.64 million inferred tonnes at 2.33 g/t Au or 197,000 oz of contained gold.
Buffalo Ankerite produced over 1.0 million oz of gold during its operation as an underground mine. Lexam is examining the potential for an open pit based on the updated resource. A high grade gold zone has also been drilled about 1,220 metres below surface.
Lexam is awaiting further assays from the adjacent Fuller and Paymaster properties. Please see LexamVGGold.com.