Initial Drilling Hits Thick Intersection of Gold Mineralization Outside Historical Resource Boundary at Mountain Lake’s Glover Island Project

- November 24th, 2011

Mountain Lake Resources Inc. (TSXV:MOA) announced the initial drill results from its Glover Island Gold Property in western Newfoundland.

Highlights:

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Step-out drill hole LPSE-11-44 intersected 0.7 grams per tonne (g/t) gold (Au) over 130.9 m from a vertical depth of 135 m and in an area outside of the historical LPSE Prospect resource boundary; assay results from an adjacent 50 m step-out hole are pending

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Infill drilling intersections within 200 m vertical depth include 1.48 g/t over 26 m in LPSE-11-36 and 2.03 g/t over 16.5 m in LPSE-11-40

Gold distribution is very uniform over broad intervals

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Second drill rig brought in to expedite initial drill program

Mountain Lake Resources Inc. (TSXV:MOA) announced the initial drill results from its Glover Island Gold Property in western Newfoundland.

As quoted in the press release:

The Company acquired a 100% interest in the Property last year and this is the first drill program on the Property since 2003 when the price of gold averaged $350 per ounce for the year.

Highlights:

  • Step-out drill hole LPSE-11-44 intersected 0.7 grams per tonne (g/t) gold (Au) over 130.9 m from a vertical depth of 135 m and in an area outside of the historical LPSE Prospect resource boundary; assay results from an adjacent 50 m step-out hole are pending
  • Infill drilling intersections within 200 m vertical depth include 1.48 g/t over 26 m in LPSE-11-36 and 2.03 g/t over 16.5 m in LPSE-11-40
  • Gold distribution is very uniform over broad intervals
  • Second drill rig brought in to expedite initial drill program

Mountain Lake President and CEO, Gary Woods, said:

“We are very pleased with the early results from our initial drill program. The grades are coming in roughly as expected from the historical work on the Property but we are surprised at how thick the mineralization can be, relative to the historical widths. We also think there is potential to improve the resource by additional sampling within the historical resource boundaries.”

Click here to read theMountain Lake Resources Inc. (TSXV:MOA) press release
Click here to see the Mountain Lake Resources Inc. (TSXV:MOA) profile.

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