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Signature Announces Significant Gold Values of Up to 140.14 gpt (4.09 opt) From Historic Core Re-Evaluation Program at Lingman Lake Deposit
TORONTO, ONTARIO--(Marketwired - Dec. 8, 2016) - Signature Resources Ltd. (TSX VENTURE:SGU)(OTCQB:SGGTF) ("Signature" or the "Company") is pleased to announce r
About this update from Signature Resources Ltd.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - Dec. 8, 2016) - Signature Resources Ltd. (TSX VENTURE:SGU)(OTCQB:SGGTF) (\"Signature\" or the \"Company\") is pleased to announce results from 12 of 22-holes from its on-going historic core re-evaluation program. The results to date, have successfully demonstrated the validity of the historic data, and the high-grade nature of the Lingman Lake deposit. Hole 87-54 returned a current assay of 140.14 gpt (4.09 opt) along a core interval of 1.6-feet within a wider interval of 5.6-feet which includes 3.6-feet of 71.34 gpt (2.08 opt) resulting in a calculated weighted average of 92.51 gpt (2.69 opt). This assay of 140.14 gpt (4.09 opt) essentially matches the historic value for this 1.6-foot sample of 146.40 gpt (4.27 opt). The historic core re-evaluation program consists of a subset of 22-holes from 177-drilled between 1987-89 and are representative of the deposit along a strike of 1,000-meters and a width of 225-meters. Zone categorization is pending and detailed maps will be posted on the company website in the near future. Results for the remaining 10- holes are pending. Exclusive of standards, 566-samples were analyzed for gold and multi-element, of which 274-samples (48%) duplicated historic sample intervals. A correlation by regression analysis of gold values comparing historic assays to current assays, was completed by independent QA/QC consultant, and is reported to have an excellent correlation producing an R2 value of 0.965 (1.0 being perfect positive correlation). Only 2.6% of the samples are dissimilar which is due to the influence of nugget effect of gold on high grade values. Highlights of 2016 weighted gold average intervals are tabled below. For the sake of clarity with respect to historic interval sampling, imperial measurements of length have been retained. A comprehensive table of assay results and intervals comparing the historic data (1987-88) with the current (2016) data is provided at the end this release. SUMMARY OF 2016 GOLD WEIGHTED AVERAGE INTERVALS HoleNo. Intervalfeet Lengthfeet W Avggpt W Avgopt 87-14 243.7-262.8 19.1 3.41 0.10 87-24 30.7-35.0 4.3 19.92 0.58 162.0-183.5 21.5 4.44 0.13 87-25 162.0-178.5 16.5 8.38 0.24 87-34 157.0-168.0 11.0 10.46 0.31 87-38 140.0-150.0 10.0 4.10 0.12 87-54 17.7-21.6 3.9 11.85 0.35 287.0-291.0 4.0 4.31 0.13 553.6-558.8 ...