Mountain Lake Reports Initial Results from Summer Drilling at Leprechaun

Gold Investing

Mountain Lake Resources Inc (CVE:MOA) reports the intersection of a wide interval of gold mineralization in the northeast section of the Leprechaun gold deposit on the Valentine Lake property, Newfoundland.

Mountain Lake Resources Inc (TSXV:MOA) reports the intersection of a wide interval of gold mineralization in the northeast section of the Leprechaun gold deposit on the Valentine Lake property, Newfoundland.

The press release is quoted as saying:

Drill hole VL-11-288 intersected 2.09 grams per tonne (g/t) gold (Au) over 65.6 metres (m) including 16.50 g/t Au over 3.2m and 76.0 g/t over 0.8m . Additional new gold mineralization was intersected in hole VL-11-287 with 9.38 g/t Au over 7.2m including 16.68 g/t Au over 4m, and in VL-11-289 with 2.59 g/t Au over 8.8m. The Valentine Lake Project is a 50/50 joint venture between Marathon Gold Corporation (“Marathon”) and Mountain Lake.

Mountain Lake’s President and CEO, Gary Woods says:

“For the balance of the year the focus of the drill program will be on expanding and delineating the Leprechaun Deposit in advance of the Preliminary Economic Assessment planned for release in the first half of 2012. And these latest results certainly provide evidence that the resource can be significantly expanded.”