Significant Gold Intervals Intersected at Initial Drill Testing at J. Frank Zone

At the J. Frank Zone – located 1.5 kilometres (km) southwest of the Leprechaun Gold Deposit area on the Valentine Lake Gold Property in central Newfoundland – near surface gold-bearing quartz-tourmaline-pyrite alteration in the initial drilling has been reported by Mountain Lake Resources Inc. (TSXV:MOA).

As quoted in the press release:

Highlights:

• Initial shallow exploration drilling at the J. Frank Zone intersected high grade gold intervals within a more than 80 meter thick gold-anomalous quartz-tourmaline-pyrite alteration envelope that is identical to that of the Leprechaun Gold Deposit, located 1.5km to the NE.
• Drill holes VL-11-366 and VL-11-376 intersected significant new main zone-style mineralization with intervals of 3.49 g/t Au over 3.75 meters, including 10.23 g/t Au over 0.75 meters and 4.47 g/t Au over 2.25 meters, including 13.30 g/t Au over 0.75m.

Mountain Lake President and CEO, Gary Woods, said:

“It is very encouraging to see the intensity of these broad zones of gold bearing pyritic quartz tourmaline mineralization and alteration extending over such a significant strike length. This was obviously a very significant gold mineralizing event.” “The focus in 2012 will be to locate high grade zones that are like Leprechaun’s ‘Heart of Gold’ at depth or back towards the Leprechaun Deposit.”

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