Lakewood (LWD) is reporting high-grade surface samples, including 11.79 g/t Au and 255 g/t Ag, from the Silver Strand Mine in Idaho.
Highlights from the sampling program at the past-producing mine include gold discoveries 1 km beyond the previously sampled area and a silver finding along a 5.5 km mineralized trend.
The company has collected forty-one samples along road cuts and logging trails revealing stratigraphic contacts, faults, widespread alteration and in places mineralized quartz veins and silicified Revett quartzite.
Gold values ranged from less than detectable to a high of 11.79 g/t Au with an average of 1.33 g/t Au.
Silver values ranged from a low of 1.71 g/t Ag to a high of 34.29 g/t Ag with an average of 5.48 g/t Ag.
One of the better rock chip samples collected near the Burnt Cabin Mine reported 7.23 g/t Au and 7.54 g/t Ag.
Another highly anomalous zone central to the property position sampled a 1 m wide quartz-limonite vein reporting 5.04 g/t Au and 6.17 g/t Ag.
Ongoing surface work covers Silver Strand through the Burnt Cabin Mine and up to 1 km beyond. This work is examining areas left unexplored due to the land package's previously fractured ownership.
Consulting geologists, Childs Geoscience, are currently mapping and reconnaissance sampling the northwestern part of the property.
Lakewood is planning drill work at Silver Strand for the end of the summer.
Morgan Lekstrom, President of Lakewood Exploration, commented,
"We are very excited with these results which confirm widespread alteration and gold-silver mineralization throughout the property and along the 5.5 km strike. The recent work has also identified multiple sub-parallel veins to the past producing Silver Strand Mine. These results will help inform future exploration plans and step-outs from the historic mine."
Lakewood Exploration is a junior resource company with gold and silver projects in Canada and the U.S.
Lakewood (LWD) is down by 1.37 per cent and is currently trading at $0.72 per share as of 9:51 am ET.