drilling - officially Moss Lake Gold set to drill Moss Lake, Fountain Lake
Moss Lake Gold Mines Ltd (TSX-V:MOK)
Shares Issued 39,366,667
Last Close 10/25/2004 $0.17
Thursday November 04 2004 - News Release
Mr. George Mannard reports
DRILLING UNDERWAY AT FOUNTAIN LAKE
Moss Lake Gold Mines Ltd. has begun a fall drilling program on the company's 100-per-cent-owned contiguous Moss Lake and Fountain Lake properties located 100 kilometres west of Thunder Bay, Ont., in the Shebandowan area.
A total of nine holes for 1,500 metres of drilling are planned. The principal target is in the Fountain Lake area located two kilometres southeast of the Moss Lake gold deposit. Drilling will follow up on encouraging intersections identified in the 2003 drilling program including intersections of 6.91 grams of gold per tonne over 1.86 metres, 3.51 g Au/tonne over 1.00 metre, 3.07 g Au/tonne over 1.57 metres and 7.23 g Au/tonne over 0.49 metre. Mineralization occurs in a broad pyritic zone hosted by felsic tuffs and fragmental rocks. Sectional drilling will test potential continuity of this sequence across a strike length of 250 metres.
One hole will also be drilled at the west extremity of the Moss Lake deposit to test a new structural interpretation derived from compilation of existing data. The purpose of this hole is to validate the thesis that the Moss Lake deposit remains open for expansion toward the west.
The Moss Lake deposit was last estimated to host a resource of 60 million tonnes grading 1.1 g Au/tonne or 2.1 million ounces of gold above a depth of 250 metres. This estimate was completed by the senior evaluation engineer of Noranda Exploration Company in 1992 and was verified by independent consultants in 1995. This work was completed prior to implementation of National Instrument 43-101 (standards of disclosure for mineral projects).
Drilling is expected to be completed mid- to late-November with assaying and interpretation expected to be completed one month following the drilling. Drill supervision, logging and sampling is being conducted by Brian Nelson, PGeo, qualified person as per NI-43-101. Assaying will be performed by Accurassay Laboratories of Thunder Bay, Ont., employing fire assay techniques and industry standard quality control procedures.
© 2004 Canjex Publishing Ltd.