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Friday, 23rd September 2005 (4495 views)

New targets have been discovered on the Black Bear gold property in Red Lake.

Using the MMI (Mobile Metal Ion) technique, MetalCORP, with funding from Goldcorp, has successfully identified gold drilling targets.

A total of seven MMI gold anomalies were recorded and, combined with the results of an airbourne magnetic survey conducted in 2003, these suggest the presence of structural zones favourable to gold.

Two of the gold anomalies are on the sites of gold discovered in May 2004, one of which was drilled to return a sample of 14.9 g/t of gold over 0.30 metres from quartz-carbonate veining.

The remaining anomalies are on an area associated with magnetic, felsic intrusions, which have been proved to relate to gold mineralisation.

Red Lake is one of the most active gold camps in Canada; historical gold production has exceeded 20 million ounces at an average grade greater than 0.40 ounces per ton.

 

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