Business
Signature Resources’ First Drill Program at Lingman Lake Continues to Intersect High Grade Gold
Drilling highlighted by 14.0m of 8.56 g/t gold in the South Zone Target Includes 5.0m of 16.61 g/t gold in South Zone Target Numerous 1.0 m intervals with high
About this update from Signature Resources Ltd.
[{"type":"text","content":" Drilling highlighted by 14.0m of 8.56 g/t gold in the South Zone Target Includes 5.0m of 16.61 g/t gold in South Zone Target Numerous 1.0 m intervals with high grade results as high as 37.27 g/t gold TORONTO, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF) (\"Signature\" or the \"Company\") reports the results of drill holes 18-09 and 18-10 which targeted the South and Central Zones at the company’s Lingman Lake gold property located in northwestern Ontario. This year’s exploration campaign was conducted with a view to test the grade and continuity of the mineralization encountered in historical drilling done on the property by previous operators. Highlights from the zones drilling are summarized below. Drill hole 18-09, South Zone; returned 3.0 meters with an average grade of 12.20 grams per tonne gold (from 55.0 to 58.0 meters). True width is estimated at ~2.3 meters. Drill hole 18-09, Central Zone “A”; returned 9.0 meters with an average grade of 6.55 grams per tonne gold (from 65.0 to 74.0 meters). True width estimated at ⁓ 6.9 meters. Drill Hole 18-09, Central Zone “B”; returned 4.0 meters with an average grade of 4.27 grams per tonne gold (from 81.0 to 85.0 meters). True width estimated at ⁓ 3.1 meters. Drill hole 18-10, South Zone; returned 14.0 meters with an average grade of 8.56 grams per tonne (from 22.0 to 36.0 meters). True width is estimated at ~10.7 meters. (Includes 5.0 meters with an average grade of 16.61 grams per tonne from 30.0 to 35.0 meters with a true width of 3.8 meters). Hole collared in vicinity of 45-01 which returned 3.9 meters of 22.60 grams per tonne gold. Mr. Walter Hanych, CEO stated, “We are extremely encouraged by these additional results from our first drill campaign. Drill hole 18-09 was designed to intersect multiple zones from one set-up. This was successfully accomplished, and the results are exciting. Drill hole 18-10 was collared in the vicinity of original discovery outcrop at Lingman Lake and in proximity to the collar of the first ever hole drilled on the property, in the 1940s. Significantly, the new drill hole by Signature returned a wider intercept. The South and Central Zones collectively contributed 34% to the historical estimate of 234,684 ounces of gold. With these results from our new drilling, we are very optimistic that any f...