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Signature Resources Ltd.
Summary
| Project: | Lingman Lake | |
|---|---|---|
| Deposit: | Lingman Lake | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/8/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 8-11-2018: Signature Resources Ltd. announces an Exploration/Drilling Update report for its Lingman Lake deposit at the Lingman Lake project. Drilling results incl. 8.0m @ 17.87g/t Au from 95.0m. Drill hole 18-05 was collared to intercept the North Zone a | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Walter Hanych (Internal) | |
| ABSTRACT: | Drill hole 18-05 was collared to intercept the North Zone at approximately 64 meters vertical depth, in the goldmineralized shoot between the 150 Level (45 meters vertical depth) and 275 Level (84 meters vertical depth) of the historical underground workings at the site. Historical drilling in proximity to 18-05 are: 45-21 (approximately 14 meters higher up and 5 meters east) assayed 136.5 grams of gold per tonne along 3.9 meters; and 87-73 (14 meters higher and 20 meters west) assayed 13.50 grams of gold per tonne along 9.2 meters. Drill hole 18-03 was collared 83 meters west of 18-05 and was designed to intersect the North Zone at 55 meters vertical depth, between the 150 Level and 275 Level. Historical drilling in proximity to 18-03 was hole 45-17, situated 11 meters lower which assayed 16.10 grams of gold per tonne along 3.02 meters. Drill hole 18-04 was drilled to test the grade of gold-mineralized shoots between surface and the 150 Level in an area previously untested by drilling. 18-04 intersected the interpreted edge of a gold-mineralized shoot of the North zone and returned an assay of 2.33 grams of gold per tonne along 6.0 meters, (⁓5.2 meters true width) at 23 meters vertical depth. Mr. Walter Hanych, CEO stated, “We are extremely encouraged by these additional results from our first drill campaign. We believe Lingman Lake is one of the premier under-developed emerging gold projects in Canada. With these results from our new drilling, we are very optimistic that any future drill campaigns will successfully support and enhance the robust historical legacy. The North Zone is typical of a high-grade gold system producing assay results ranging from low grade to very high-grade gold. We are confident, that with the historical gold grades which have been reported in previous press releases, and with future infill and extension drilling, that the North zone will yield significant high-grade gold sections. Importantly, the drilling is indicating that the true width of the zone is wider than what is indicated in historical underground plans.” | |
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