Pine Point Mining Limited (TSX VENTURE:ZINC) (the “Company”) is pleased to announce that the portion of exploration designed to expand the existing resource at the L65 open pit deposit at its Pine Point project in the Northwest Territories has significantly expanded the potential size and grade of the deposit. A total of 56 holes for a total of 5,906 metres have been drilled at L65 so far in 2017, in addition to the 29 holes previously drilled by former operators Cominco and Tamerlane.
As quoted in the press release:
“It is encouraging that the drilling to date at L65 has intersected grades well above the average grade of the deposit while at the same time expanding the size significantly. L65 had the lowest grade of the 10 deposits included in our Preliminary Economic Assessment released in April, and these higher assays in the western zone should help with the economics of the project,” says Jamie Levy, President and Chief Executive Officer of the Company. “It should be noted that L65 is just the first of several deposits which have the potential for expansion.”