Carlisle Goldfields Limited (TSX:CGJ, OTCQX:CGJCF) announced resource estimates from its Farley Lake Mine Project.
As quoted in the press release:
Initial resource estimate for the Farley Lake Mine Project totaling 610,000 ounces (ozs) of gold (Au) in the Indicated category grading 3.21 grams per tonne (“g/t”) and 403,000 ozs of gold in the Inferred category grading 2.87 g/t.
Carlisle’s President and CEO, Bruce Reid, said:
We are pleased with the initial resource estimate from Farley Lake, especially the grade. This 2012 drill program has shown us the considerable potential that the Farley Lake Mine Project has. The Open Pit portion is estimated to a depth of only 200 metres from surface. Our initial resource including the underground portion was estimated to a depth of only 350 metres. We look to add to this resource with further drilling both along strike and at depth.