Mountain Lake Resources Intersects Multiple Intervals of High-grade Gold in Newfoundland

Mountain Lake Resources Inc. (TSXV:MOA) intersected multiple intervals of high-grade gold in the latest batch of 2012 drill results from the Leprechaun Gold Deposit area of the Valentine Lake Property in central Newfoundland. The latest results confirm the potential to expand the Leprechaun Deposit’s Main Zone down-dip and demonstrate that additional high-grade gold mineralization occurs within the existing Resource boundary in areas currently estimated as low grade and classified in the Inferred category.

As quoted in the press release:

The Valentine Lake Property, including the Leprechaun Deposit, is a 50/50 joint venture between Mountain Lake and Marathon Gold Corp.  Marathon is the operator of the Project.
Significantly, the latest results confirm the potential to expand the Leprechaun Deposit’s Main Zone down-dip and demonstrate that additional high-grade gold mineralization occurs within the existing Resource boundary in areas currently estimated as low grade and classified in the Inferred category.
Highlights from the latest 2012 analytical results include:

• 7.23 g/t gold (Au) over 20.9 meters (m) including 48.99 g/t Au over 1.9m in hole VL-12-403, and 9.19 g/t Au over 13.5m including 34.92 g/t Au over 1.8m in hole VL-12-407.  This represents both down-dip and strike continuity of high-grade mineralization previously reported in hole VL-12-400.
• 4.05 g/t Au over 21.6m including 24.55 g/t Au over 1.8m in hole VL-12-402, and 13.81 g/t Au over 18.05m including 109.94 g/t Au over 1.9m in hole VL-12-408.  These holes intersected the Main Zone in an area of mineralization previously estimated to be from 1 to 5 g/t Au in grade.
• 3.93 g/t Au over 24.0m including 19.01 g/t Au over 4.0m in hole VL-12-401, and 2.78 g/t Au over 18.7m including 15.66 g/t Au over 1.7m in hole VL-12-404.  These holes confirm the continuation of high grade Main Zone mineralization at increased depths within the northeast section of the current Resource boundary.

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