Tectonic Metals gets funding for gold exploration in Alaska
The company's Flat gold project is located 40 km north of the giant Donlin gold project.
Lake Shore Gold Corp. (TSX:LSG) announced results from six drill holes (3,035 metres) from the 730 Level at the Thunder Creek Project with four holes (1,060 metres) being collared underground and two holes (1,975 metres) on surface. The holes are part of a continuing drill program to define the overall geometry and grade of the Porphyry and Rusk Zones near the 730 elevation in order to complete an initial National Instrument 43-101 compliant resource estimate. The Thunder Creek project is within the company’s Timmins West Gold Complex near Timmins, Ontario.
“Today’s results are very exciting as they provide confirmation that we are dealing with a very special gold deposit at Thunder Creek which is already meeting and exceeding our original expectations in terms of size and grades. With today’s drill holes we have now recorded very wide intersections with high-grade sections from multiple directions,” said Tony Makuch, President and CEO of Lake Shore Gold.
“Given the location of some of the intercepts they also demonstrate the potential to expand the zones, which supports our belief that what we may have is one very large mineralized system that runs along the Timmins Mine, Thunder Creek and 144 trend. We are continuing our aggressive drill program at Thunder Creek with five drills currently active in support of our efforts to establish an initial National Instrument 43-101 resource later this year. In addition, we are also developing two hanging wall drifts and will use these drifts to drill for extensions between the 300 and 730 levels and to a depth of 1,500 metres. The potential to extend the mineralization to depth is excellent as both the Rusk and Porphyry zones remain open and the size of the porphyry stock increases the deeper it goes.”
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