Gold

Newmarket Gold Inc. (TSX:NMI,OTCQX:NMKTF) announced new high-grade drill results from its Victoria-based Fosterville gold mine.

Newmarket Gold Inc. (TSX:NMI,OTCQX:NMKTF) announced new high-grade drill results from its Victoria-based Fosterville gold mine.
In all, 13,076 meters of drilling across 60 holes were completed, with work focused on further definition of near-mine targets at the Phoenix, Lower Phoenix, Lower Phoenix Footwall, East Dipping, Kestrel and Eagle faults.
Highlights include:

  • Drilling on the Eagle Fault continues to return high-grade mineralization containing visible gold. Key drill intercepts include 161 g/t Au(1) over 7.35 m (ETW 4.94 m) in hole UDH1481 (Including 499 g/t Au(1)over 2.25 m) and 32.02 g/t Au(1) over 6.25m (ETW 6.14m) in hole UDH1416 (Including 355 g/t Au(1) over 0.35m)
  • Dimensions of the high-grade Eagle Fault, extended 100 m by drilling, is currently 600 m along strike and spans approximately 290 m of vertical height, with Eagle open for continued expansion down-plunge
  • Drilling of the East Dipping Fault continues to intersect significant widths, up to 13.50 m of high-grade mineralization and included two major intercepts with 645 g/t Au(1) over 3.50 m (ETW 3.41m) in hole UDH1456 (Including 7,368 g/t Au(1)over 0.30m) and 45.47 g/t Au(1) over 14.95m (ETW 13.50m) in hole UDH1408 (Including 1,321 g/t Au(1) over 0.35m)
  • Lower Phoenix Fault returned a high-grade intercept of 16.53 g/t Au over 4.50m (ETW 3.99m) in hole UDH1444
  • Lower Phoenix Footwall Fault returned a significant intercept 5.94 g/t Au over 7.40m (ETW 6.48m) in hole UDH1366
  • Kestrel structure returned a significant intercept of 9.77 g/t Au over 4.55m (ETW 3.95) in hole UDH1406
  1. Visible gold present in drill intercept, ETW – Estimated True Width, All drill results are presented in Table 1

Douglas Forster, president and CEO of Newmarket Gold, commented:

Drilling with four drill rigs at our Fosterville Gold Mine continues to intersect record high-grade visible gold intercepts outside of known Mineral Resources at our Eagle Fault discovery and other structures in the Lower Phoenix System. Drilling has also extended the Eagle Fault Zone an additional 100 m along strike to a total length of 600 m with visible gold-bearing Eagle mineralization remaining open for expansion down-plunge. The latest drill results are very encouraging as the Eagle Fault, and other key structures containing high-grade mineralization are proximal to infrastructure where current mining continues to extract ore that has contributed to higher year-over-year mill grades at Fosterville. We are pleased with the performance of our drill programs to date as results have a strong potential to add to our Mineral Reserves and Resources. We remain on track to establish a first resource for Eagle as of year-end December 31, 2015, to be released by the end of Q1 2016.

Click here to read the full Newmarket Gold Inc. (TSX:NMI,OTCQX:NMKTF) press release.

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