Buchans Minerals Corporation (TSXV:BMC) and Minco plc (AIM:MIO) announced drilling results from the Woodstock manganese project in New Brunswick.
As quoted in the press release:
The first hole of the current program, PL-11, was drilled at the northwest end of a line of previously drilled holes and completes a central section across the deposit. The new hole, PL-13-011, has returned assays averaging 11.25% Manganese over 113.85 metres core length (95 m approximate true width).
Buchans Minerals President and CEO, Warren MacLeod, said:
We are pleased that the first complete drilled section through the deposit since the 1950′s confirms high grades and large widths that provide early indications to suggest that the deposit may be amenable to open pit mining with stripping ratios anticipated to be very low. These results provide encouragement that we may attain our goal of upgrading a significant portion of the historical resource to a NI 43-101 compliant Inferred Resource required to complete a preliminary economic assessment.