Mountain Lake Resources Inc (CVE:MOA) reports near surface intersection of a wide interval of gold mineralization in an area of the Sprite Zone, the Leprechaun Gold deposit.
The press release is quoted as saying:
Historical drilling in the Sprite Zone, in widely spaced drill holes over a 1.1 kilometre (km) strike length (see Figure – SZ: http://www.mountain-lake.com/VL-DDH-maps_2011/Figure-SZ_050411.jpg), has returned significant gold values including 2.28 g/t Au over 36.51m (with 10.6 m of unsampled core in the interval) including 19.17 g/t Au over 3.0m in hole VL-27; as well as 3.18 g/t Au over 4.1m in VL-35, and 3.01 g/t Au over 4m in VL-50.
Mountain Lake’s President and CEO, Gary Woods says:
“The wide, near surface intercept in VL-11-264 coupled with broad historic intervals in the Sprite Zone demonstrates the excellent potential to significantly increase the global resource on the Valentine Lake Project. This is an area that despite its high potential has received very little work in the past as the historic emphasis has been on exploring the adjacent Leprechaun Deposit. Anomalous gold values occur in every drill hole for a 1.1 km stretch and a focused drill program in this area is now being planned.”
MARKETS
COMMODITIES
| Commodities | |||
|---|---|---|---|
| Gold | 1811.09 | +0.82 | |
| Silver | 21.11 | +0.03 | |
| Copper | 4.16 | +0.06 | |
| Palladium | 1946.01 | +11.99 | |
| Platinum | 943.12 | +2.88 | |
| Oil | 110.16 | +4.03 | |
| Heating Oil | 3.76 | +0.03 | |
| Natural Gas | 7.62 | -0.12 | |