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Pen Gold Project

Pen Gold Project

Pen Gold Project

Project

Drilling


Thirteen drill holes, totaling 4359 metres, were completed by the end of May, 2013, focused in four areas of the Pen Gold Project:
  • Porphyry Hill Area.
  • Talc Mine Area.
  • Midway Area.
  • Westgate Area.
All assays were returned in July.



Porphyry Hill Area (PG13-101)
Two holes were planned to test anonymous grab and channel samples in a quartz feldspar porphyry proximal to a mafic volcanic contact. One hole was completed prior to new exploration permit regulations taking effective on April 1. Geochemically anomalous gold values indicate more drill testing is required.

Talc Mine Area (PG13-103 to PG13-111)
Eight holes were completed in the Imerys Talc Mine area to test the original gold mineralization which led to the discovery. Significant gold assays were returned in holes PG13-105 through PG13-109. The best intercepts include 4.3 m at 13.02 g/t gold in hole PG13-108.

PG13-110 targeted a carb rock unit intersected in a nearby historical drill hole. In addition to typical rock types, a previously unknown sequence of pyrrhotite-rich felsic pyroclastic or debris flow units along with a massive sulphide layer were encountered from 133 to 143 m downhole. The lithologies observed are consistent with a VMS system.



Midway Area (PG13-102)
One hole was planned and drilled at the Midway Area to test a northeast trending structure parallel to the mine access road and the unknown lithology under a swamp which is interpreted to be the surface expression of this structure. A number of geochemically anomalous gold values in the drill core samples indicate the need for more drill testing.

Westgate Area (PG13-112 to PG13-113)
Two holes were completed in the Westgate area. The holes intersected quartz carbonate veining, localized sulphides and black tourmaline. This area is developing into a strong geochemically anomalous trend extending 1.5 km to the west from the drill holes. More drill testing is required to assess the gold mineralization potential of this anomalous zone.

Complete List of Drill Holes

Drill Hole Easting Northing Elevation Azimuth Dip Total Depth (m)
PG13-101 414765 5337799 353 340 -45 213
PG13-102 418673 5339105 337 130 -45 402
PG13-103 418485 5338800 337 120 -45 357
PG13-104 418500 5338722 342 180 -45 384
PG13-105 418350 5338644 345 180 -45 288
PG13-106 418653 5338445 347 270 -45 408
PG13-107 418683 5338718 345 225 -60 363
PG13-108 418510 5338568 339 180 -45 405
PG13-109 418510 5338567 339 225 -45 300
PG13-110 418350 5338410 344 180 -45 318
PG13-111 418301 5338642 338 180 -45 201
PG13-112 419204 5340401 328 180 -45 309
PG13-113 419204 5340402 329 120 -45 411


Significant Intercepts

DRILLHOLE FROM TO Interval (m)* Au (g/t)
PG13-105 74.00 75.00 1.00 2.83
PG13-106 80.30 81.55 1.25 4.16
Includes 80.80 81.25 0.45 10.30
  86.70 87.10 0.40 1.42
  120.80 121.30 0.50 1.99
PG13-107 145.30 146.10 0.80 3.96
  150.50 151.50 1.00 3.42
PG13-108 24.20 24.50 0.30 12.70
  31.50 32.80 1.30 1.61
  202.9 207.20 4.30 13.02
Includes 203.30 203.70 0.40 37.6
  205.20 205.50 0.30 123.0
  206.15 206.60 0.45 7.22
PG13-109 28.50 28.80 0.30 2.07
* Measured as down hole core lengths and not true widths ** Intercepts calculated based on an individual assay cutoff grade of 0.5 g/t Au with the minimum grade of composited intervals being > 1.0 g/t Au, no minimum widths using uncut assays. All reported assays are uncut.