cuts 162.8 m of 4.12 g/t Au at ValentineThis New release from August 31 is just a refresher for those who might have forgotten or anyone new who may not have seen it....C.G.
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2005-08-31 07:22 ET - News Release
Also News Release (C-MOA) Mountain Lake Resources Inc
Mr. Jean-Guy Rivard of Richmont Mines reports
RICHMONT MINES AND MOUNTAIN LAKE ANNOUNCE LATEST DRILLING RESULTS FOR THE VALENTINE LAKE PROJECT
Richmont Mines Inc. and Mountain Lake Resources Inc. have released the latest drilling results on the Valentine Lake property. Seven holes totalling 1,371 metres were drilled on the property in 2005: four holes (110, 111, 113 and 114) tested the Main zone, two holes (112 and 115) the NE zone and one hole (116) verified the deep extension of the Osprey Pond zone, which is located 1.5 kilometres to northeast of the Main zone.
For the Main zone, the holes were drilled down the dip of the mineralized zone to test the interpreted orientation of the high-grade veining that appeared to have a reverse orientation to the overall mineralization. An instrument was used to determine the quartz vein orientation. Hole 111 was stopped at 48.2 metres due to drilling technical problems. The other holes were collared subvertically at 80 degrees to the south. All the results are shown in table 1.
Hole 110 intercepted a good stacking of quartz-tourmaline veins over 162.8 metres grading 4.12 grams per tonne gold uncut (4.01 grams per tonne cut to 58 grams per tonne), which includes several high-grade zones. Fifty metres to the east of this hole, a second down-dip hole (113) intercepted a stacking of quartz-tourmaline veining system of 41 metres and the best intersection returned 5.73 grams per tonne gold uncut (3.83 grams per tonne cut) over 23.7 metres. The third hole (114), located 100 metres to the east of hole 110, returned an intersection of 58.2 metres grading 6.54 grams per tonne uncut (6.39 grams per tonne cut).
For the NE zone, hole 115 did not identify the zone at depth, while hole 112 has returned an intersection of 4.70 grams per tonne uncut/cut over 23.7 metres, which confirms the interpretation of this zone.
TABLE 1
SIGNIFICANT DRILL INTERSECTIONS
AUGUST, 2005
Au Au
Hole From To Length uncut cut
VL05-
110 20.70 183.50 162.80 4.12 4.01
32.30 36.00 3.70 5.93 5.93
42.60 55.60 13.00 9.52 8.95
59.35 62.15 2.80 5.99 5.99
64.15 79.00 14.85 3.50 3.50
104.25 112.25 8.00 4.46 4.46
130.00 145.00 15.00 15.14 14.38
171.00 174.40 3.40 12.72 12.72
111 Abandoned
112 6.85 13.00 6.15 8.29 7.72
91.42 115.10 23.68 4.70 4.70
113 90.83 114.50 23.67 5.73 3.83
Incl. 91.50 94.50 3.00 3.68 3.68
105.20 109.70 4.50 26.61 16.61
147.90 151.97 4.07 5.59 5.59
114 59.40 60.80 1.40 31.08 31.08
89.80 95.30 5.50 3.49 3.49
99.85 158.00 58.15 6.54 6.39
Incl. 99.85 139.00 39.15 8.41 8.18
142.00 144.00 2.00 6.11 6.11
156.20 158.00 1.80 16.07 16.07
115 89.20 89.80 0.60 28.77 28.77
143.32 143.70 0.38 61.99 58.00
170.80 174.87 4.07 5.80 5.80
116 180.80 182.80 2.00 2.68 2.68
234.18 234.86 0.68 18.74 18.74
Note: High-grade assays cut to 58 grams per tonne gold.
This drilling program confirms the continuity of a quartz-tourmaline veining system in the Main zone over 100 metres laterally, with a down-dip extension varying from 24 to 163 metres. A second vein system may be located approximately 25 metres to the north of the Main zone, as identified by hole 93 drilled in 2004, which returned three intersections (10.48 grams per tonne over 5.6 metres, 7.1 grams per tonne over 7.1 metres, 6.04 grams per tonne over four metres) at a depth of 350 metres.
One hole was drilled in the Valentine East area during this drilling program with the objective of expanding the resources. Valentine East is located about 13 kilometres northeast of the main Valentine Lake zone along the same geological structure. Results are pending.
The partners are currently working on a 3-D model which will be used to update the resource calculation of the Valentine Lake project. This information will be used to determine the next phase of the continuing exploration program on the Valentine Lake property.
Richmont Mines and Mountain Lake Resources remain very positive by the results obtained, which confirms the orientation and distribution of the gold-bearing vein system within the Main zone.
Project supervision -- National Instrument 43-101
The program was supervised by Larry Pilgrim, PGeo, a qualified person as defined by National Instrument 43-101, under the supervision of Jules Riopel, MSc, PGeo, principal exploration geologist at Richmont Mines Inc.
Method of analysis
The analyses were conducted at the Eastern Analytical Ltd. Laboratory in Springdale, Nfld., by means of fire assay fusion on 30 grams of material with atomic absorption (AA) finish.
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