NORTHERN ONTARIO Toronto-based HOLMER GOLD MINES has tripled its estimate of the indicated and inferred resource figures at its Timmins gold project. In the indicated category there are 1.37 million tonnes grading 16.45 g/t Au uncut, triple the 422,000 tonnes at 17.78 g/t estimated in 2002. This year’s estimate also includes 200,000 tonnes at 12.43 g/t in the inferred category and additional inferred resources of 1 million tonnes grading 3 to 6 g/t Au.
Holmer Gold says the current resource numbers are based on the 2003-04 drill program totalling 31,545 metres. This program included 25,804 metres of resource expansion drilling, 2,570 metres of resource definition in the upper 100 metres of the deposit, and 3,190 metres of exploration drilling.
LAKE SHORE GOLD, the operator of the project, will continue to drill off the deposit on 100-metre sections located west of the known resource from 4500E to 4200E, and will initiate a surface exploration program to test for new mineralized zones. Lake Shore is earning a 50% interest in the Timmins project.
A 3-D model, maps and photos of the Timmins mineralization are posted at www.LSgold.com.