For thousands of other reports visit RSC's Mineral Intellingence Map
Signature Resources Ltd.
Summary
| Project: | Lingman Lake | |
|---|---|---|
| Deposit: | Lingman Lake | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/13/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 13-11-2018: Signature Resources Ltd. announces an Exploration/Drilling Update report for its Lingman Lake deposit at the Lingman Lake project. Drilling results incl. 14.0m @ 8.56g/t Au from 22.0m. Toronto, Ontario, November 13, 2018 – Signature Resources | |
| Resources: | x | |
| CP/QP: | [Overall Report]: John Siriunas, Walter Hanych (Caracle Creek International Consulting Ltd.;Internal) | |
| ABSTRACT: | Toronto, Ontario, November 13, 2018 – Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF) ("Signature" or the "Company") reports the results of drill holes 18-09 and 18-10 which targeted the South and Central Zones at the company’s Lingman Lake gold property located in northwestern Ontario. This year’s exploration campaign was conducted with a view to test the grade and continuity of the mineralization encountered in historical drilling done on the property by previous operators. Highlights from the zones drilling are summarized below. • Drill hole 18-09, South Zone; returned 3.0 meters with an average grade of 12.20 grams per tonne gold (from 55.0 to 58.0 meters). True width is estimated at ~2.3 meters. • Drill hole 18-09, Central Zone “A”; returned 9.0 meters with an average grade of 6.55 grams per tonne gold (from 65.0 to 74.0 meters). True width estimated at ⁓ 6.9 meters. • Drill Hole 18-09, Central Zone “B”; returned 4.0 meters with an average grade of 4.27 grams per tonne gold (from 81.0 to 85.0 meters). True width estimated at ⁓ 3.1 meters. • Drill hole 18-10, South Zone; returned 14.0 meters with an average grade of 8.56 grams per tonne (from 22.0 to 36.0 meters). True width is estimated at ~10.7 meters. (Includes 5.0 meters with an average grade of 16.61 grams per tonne from 30.0 to 35.0 meters with a true width of 3.8 meters). Hole collared in vicinity of 45-01 which returned 3.9 meters of 22.60 grams per tonne gold. Mr. Walter Hanych, CEO stated, “We are extremely encouraged by these additional results from our first drill campaign. Drill hole 18-09 was designed to intersect multiple zones from one set-up. This was successfully accomplished, and the results are exciting. Drill hole 18-10 was collared in the vicinity of original discovery outcrop at Lingman Lake and in proximity to the collar of the first ever hole drilled on the property, in the 1940s. Significantly, the new drill hole by Signature returned a wider intercept. The South and Central Zones collectively contributed 34% to the historical estimate of 234,684 ounces of gold. With these results from our new drilling, we are very optimistic that any future drill campaigns of infill and extension drilling will successfully support and enhance the geological model of multiple sub-parallel high grade gold zones. Importantly, it is quite evident that the zones stand up to multiple intercepts from one drill hole collar, providing cost effective drilling for delineation and expansion of the resource. The results from our first ever drill campaign of the Lingman Lake gold zones have exceeded our expectations. We look forward to undertaking another drill program in the near future to expand and build upon these and the historical results. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report