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Signature's Lingman Lake Gold Property Continues to Yield Significant Gold Values Supporting the High-Grade Nature of the Lingman Lake Deposit
TORONTO, ONTARIO--(Marketwired - Jan. 11, 2017) - Signature Resources Ltd. (TSX VENTURE:SGU)(OTCQB:SGGTF) ("Signature" or the "Company") is pleased to announce
About this update from Signature Resources Ltd.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - Jan. 11, 2017) - Signature Resources Ltd. (TSX VENTURE:SGU)(OTCQB:SGGTF) (\"Signature\" or the \"Company\") is pleased to announce results from the remainder of the 22-hole re-evaluation program of the archived core from the Lingman Lake deposit. Results from the remaining 10-holes have been received and once again they have successfully demonstrated the validity of the historic data, and the high-grade nature of the Lingman Lake deposit. The highest single assay was from Hole 88-56 which returned a current assay of 28.7 gpt (0.84 opt) along a core interval of 0.46-meters (1.5-feet) within a wider interval of 2.9-meters (9.5-feet), which also includes an adjacent assay of 13.89 gpt (0.41 opt) along 0.46-meters (1.5-feet), resulting in a calculated weighted average of 8.57 gpt (0.25 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. Exclusive of standards, 765-samples from the 10-holes were analyzed for gold and multi-element, of which 176-samples (23%) 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 good correlation producing an R2 value of 0.75 (1.0 being perfect positive correlation). Only 9.7% of the samples are dissimilar which is due to the nugget effect of gold on high grade values. Furthermore, in conjunction with the first set of results reported December 8th, 2016, a total of 450-duplicate core samples resulted in only 24 samples, 5.3%, being dissimilar, which can be explained by the nugget effect of gold. Highlights from the second batch of samples correlated to drill holes with weighted gold average intervals are tabled below. A comprehensive table of these assay results and intervals comparing the historic data (1987-88) with the current (2016) data is provided at the end this release. SUMMARY OF SIGNIFICANT 2016 GOLD WEIGHTED AVERAGE INTERVALS Hole From To Length From To Length W Avg W Avg No. feet feet feet meters meters meters gpt opt 87-15 35.5 46.7 11.2 10.8 14.2 3....