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A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Canada’s Warrior Gold (TSX-V: WAR) started a drilling campaign this week at its Goodfish Kirana project in Kirkland Lake, Ontario.
The property is located approximately 6 kilometres north of the Cadillac Larder Lake Fault Zone in Kirkland Lake and, according to Warrior, hosts numerous gold showings, pits, shafts and several historical underground workings.
The exploration program in progress involves 2,200 metres of diamond drilling in 14 holes and the company says it has been designed to test four high-priority zones that exhibit the gold mineralization characteristic of the Abitibi-type gold deposits.
The exploration program in progress involves 2,200 metres of diamond drilling in 14 holes.
In a press release, Warrior said the targets are Goodfish A; Goodfish A-East; Goodfish C Zone and the Deloye Claims. Drilling has already started on the latter and the idea is to test the break below the historical Kirana Kirkland Mine underground workings, and the gold mineralization along deformed porphyry contacts.
The media brief reveals that the A Zone is a high-grade gold target that is hosted in an east-southeast trending shear zone and contains the property’s most extensive historical underground development and past drilling. The C Zone, on the other hand, is a NE-trending shear zone which was insufficiently drill tested in the 1980s and 1990s and where magnetic signatures from the airborne survey suggest a possible association with an inferred cross-fault. Finally, the A-East Zone is a shallow geophysical IP anomaly coincident with an inferred cross-fault and fold hinge as identified in the airborne magnetics.
“The results gained from this drill program will advance our understanding of both the geology and the mineralization potential of this very exciting property,” said Danièle Spethmann, Warrior Gold CEO, in the media statement.
