55.58 F
May 26, 2024
PI Global Investments

Deepest hole below former Tartan mine returns 12.7 g/t gold for Canadian Gold

“Our latest drill results continue to successfully show that the high-grade gold mineralization at the Main zone extends significantly deeper than the resource estimate and remains open for further expansion,” said Ed Huebert, CEO and president.

A new resource estimate is expected later this year, and the company will use it to begin permitting and engineering activities. The Tartan mine benefits from good road access, renewable electric power, and significant underground and surface infrastructure.

The property is located near Flin Flon, Manitoba. It operated from 1987 through 1989, producing 36,000 oz. of gold. Production ceased due to the prolonged period of low gold prices.

The current indicated resource is 1.2 million tonnes grading 6.32 g/t gold and containing 240,000 oz. The indicated portion is 240,000 tonnes at 4.89 g/t gold (37,000 oz.) A cut-off of 3.0 g/t gold was used.

Canadian Gold continues to drill to expand the resources and perhaps make new discoveries at the Main zone, South zone, and volcanogenic massive sulphide (VMS) target 850 metres northeast of the mine.

Source link

Related posts

West African Resources lifts 10-year gold output forecast


Gold’s been forgotten despite record prices, and things could get more interesting in 2024


Gold steadies as traders brace for US economic data


Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.