The Conversation (0)
Mountain Lake Resources Inc (CVE:MOA) reports discovery of a new quartz-tourmaline-pyrite vein structure from the current resource boundary of the Leprechaun gold deposit , Newfoundland.
The press release is quoted as saying:
The high-grade gold samples were collected from frost-heaved angular sub-crop located directly overlying and in contact with the newly uncovered quartz-tourmaline-pyrite-gold vein structure (Plate 2: https://www.mountain-lake.com/2011_MOA_News/LP-SW_Sample-collection.jpg). This new gold-bearing vein is part of a larger gold-bearing quartz vein alteration system that currently extends over an area 600m long by 200m wide and is located up to 1.4 km southwest along strike from the current resource boundary of the Leprechaun Gold deposit (see Figure 1: https://www.mountain-lake.com/VL-DDH-maps_2011/Figure-LP-SW.jpg). Additional high-grade gold grab samples have been collected throughout the area (see Figure 1: https://www.mountain-lake.com/VL-DDH-maps_2011/Figure-LP-SW.jpg). Historical trenching and drilling did not intersect the new vein nor adequately test other mineralization in the area.
Mountain Lake Resources’ President and CEO, Gary Woods says:
“This new mineralized zone is in an area of the Property that returned the highest concentration of gold anomalies in the soil survey. In the past it was thought that the high concentration of gold in the soils in this area was glacially transported from the Leprechaun Deposit. While still early stage, this certainly indicates that there are locally derived sources for gold within the larger anomaly.”
Click here to access the entire news release.
Click here to access Mountain Lake’s company profile. (TSXV:MOA)