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Golden Dory Schedules Next Phase of Drilling at the Huxter Lane/Brady Gold Property, Newfoundland
Golden Dory Schedules Next Phase of Drilling at the Huxter Lane/Brady Gold Property, Newfoundland
About this update from Kinross Gold Corporation
[{"type":"text","content":"\nGolden Dory Schedules Next Phase of Drilling at the Huxter Lane/Brady Gold Property, Newfoundland\n\n\n Mar. 25, 2010 (TheNewswire.ca) -- GANDER, NEWFOUNDLAND - March 25, 2010 - Golden Dory Resources Corp. (TSXV:GDR) (\"Golden Dory\" TSX.V-GDR) is pleased to announce that it expects to begin a minimum 2500 metre drill program at the Huxter Lane/Brady project by late April 2010, as part of a planned 5000 metre Phase 2 program. Mobilization is expected to start in about 4 to 6 weeks or as soon as road conditions will allow access to the property. The program will target additional resources on the Mosquito Hill Deposit, and to complete sufficient drilling on the adjacent Brady Property to allow a first resource estimate on the Reid Porphyry Zone. The program will focus on expanding on the recently reported NI 43-101 compliant resources at Mosquito Hill which include an indicated resource of 4.47 million tonnes averaging 0.526 g/t Au for 75,600 ounces gold, and an inferred resource of 32.9 million tonnes averaging 0.461 g/t Au for 488,800 ounces gold at a cutoff of 0.30 grams per tonne gold. To date no economic assessment or scoping study of the Mosquito Hill Deposit has been performed.Mosquito Hill is a large, potentially open pit mineable, intrusion hosted gold deposit that has been tested by only 46 holes over a strike length of 900 metres, a width of 500 metres, and with over 90% of the current resource lying at depths shallower than 200 metres. The deposit is exposed along its northern edge, dips very gently to the southwest at about 10 degrees (nearly flat lying) and at the western limits of the current resource, the deposit is nearly 500 metres in width and wide open for expansion. The property has road access and is proximal to key infrastructure, power and labour. The deposit is similar in several respects to the Fort Knox deposit in Alaska which has proven and probable reserves of 252 million tonnes averaging 0.47 grams per tonne gold (3.8 million ounces of gold - Kinross Gold (TSX:K''C) (TSX:K''B) (OOTC:KNRSF) (NYSE:KGC) (TSX:K'U) (TSX:K) website).The Phase 2 program will address the following priority areas designed to increase the overall size and grade of the Mosquito Hill Deposit. The program will test; a) the up dip and down dip components, b) the strike extension, and c) strategic holes in the keel of the deposit...