Drill Results August 2011
Results for diamond drill holes BL11-65 to BL11-77 were received with all successfully intersecting the Borden Lake Gold Zone and returning significant intervals of gold ("Au") mineralization.
Drill holes BL11-66 to BL11-76 were designed to test for the shallow (less than 100 metres) and mid-range (150 metre to 250 metre) extensions of the gold zone within the previously tested strike extent of the deposit.
Significant widths of gold mineralization were returned from all holes. Highlights from the drilling are presented in the following two sections for the shallow and in-fill segments of the gold zone, respectively. Reported drill widths in the tables approximate true widths in these sections. Within the gold mineralized intervals reported here, silver returns average values of up to 2.3 g/t, with individual samples assaying up to 8.8 g/t Ag.
Holes BL11-66, -68, -69 and -72 were collared to test for the up-dip, or near-surface, expression of the gold mineralized zone in order to aid in the calculation of the NI 43-101 resource estimate currently in progress. The holes were drilled on 100 metre-spaced sections and in all cases successfully identified mineralization from surface or shallow depths, confirming the up-dip projection of the gold zone.
Hole BL11-66 was drilled on Section 250m NW and represents a 50-metre infill of the original 100 metre-spaced sections. Hole BL11-66 targeted the 75 metre vertical depth level of the mineralized zone and successfully intersected a thick mineralized zone from surface down to 120 metres vertical depth.
Hole BL11-68 was designed to test the shallow section of the mineralized zone on Section 300m NW and successfully intersected gold-bearing metasediments and pegmatites from surface to 94 metres vertical depth.
Hole BL11-69 tested for the shallow expression of the mineralized zone on Section 400m NW and intersected a 70-metre wide zone of gold mineralization from surface.
Hole BL11-72 continued to test the up-dip projection of the mineralized zone on Section 500m NW and successfully identified gold to 84 metres vertical depth.
Highlights from the shallow drilling are presented in the following table:
In order to confirm the continuity of the mineralization and aid in resource estimate calculation, in-fill drilling is currently being conducted on 50 metre-spacing along the entire strike length of the mineralized zone. Holes BL11-65, -67, -70, -71 and -73 to -77 were designed to target the 150-metre and 200-metre depth levels of the deposit.
Hole BL11-65 was drilled on the 550m SE section and identified a thick zone of mineralization between 75 metres and 139 metres vertical depth.
Hole BL11-67 was drilled underneath Hole BL11-65 on Section 550m SE and confirmed the continuity of the thick mineralized zone to approximately 194 metres vertical depth.
Hole BL11-70 was drilled to test the 150 metre vertical level on Section 650m SE and successfully intersected the gold mineralization down to this level.
Hole BL11-71 was drilled underneath Hole BL11-70 on Section 650m SE and confirmed the continuity of the mineralized zone to approximately 193 metres vertical depth.
Hole BL11-73 and BL11-76 were drilled to replace Hole BL11-21, which was collared in diabase dyke on Section 600m NW. The two holes successfully identified gold mineralization to vertical depths of 134 metres and 200 metres, respectively.
Hole BL11-74 was drilled on the 750m SE section and identified multiple zones of mineralization from surface to 135 metres vertical depth.
Hole BL11-75 was drilled underneath Hole BL11-74 on Section 750m SE and confirmed the continuity of the mineralized zone to approximately 195 metres vertical depth.
Hole BL11-77 targeted the 150 metre depth level on Section 450m SE and successfully intersected the mineralized zone to a vertical depth of 124 metres. Hole BL11-79 was drilled underneath this hole and assays are pending.
Highlights from the in-fill drilling segment are presented in the following table:
The Borden Lake gold zone mineralization has been identified along approximately 1,700 metres of strike length from surface to vertical depths of up to 340 metres and contains intersections up to 200 metres wide. The gold zone remains open in all directions and drilling remains ongoing. The drill program is currently on Hole BL11-101.