TLMZ21-11 and TLMZ21-12 both targeted the down plunge continuation of the Main zone mineralization, approximately 100 metres to the west of TLMZ21-01 (4.15 metres averaging 9.73 g/t gold) and 75 and 150 metres below the historic holes defining the resource limits.
Both holes intersected two distinct zones of mineralization. A hanging wall (HW) zone, not observed in the earlier holes, completed 100 metres to the east, associated with quartz-feldspar intrusives, and was intersected 20 to 25 metres above the quartz-carbonate-tourmaline veins defining the Main zone.
TLMZ21-12 intersected 5.80 metres averaging 47.56 g/t gold in the HW zone followed by a Main zone intercept of 1.60 metres averaging 7.25 g/t gold (Summary of Results TLMZ21-11 and 12, TLSZ21-10). The company advises that results of the standard screen metallic assays for the HW zone are pending. The company believes that it is unlikely the screen metallic results will materially affect the reported results.
TLMZ21-11 intersected 5.25 metres averaging 2.25 g/t gold in the HW zone followed by 2.10 metres averaging 8.87 g/t gold in the Main zone.
Jennifer Boyle, CEO, stated: â€œThese latest results clearly demonstrate that additional discovery potential exists at depth along the Main Zone plunge. Over 500 drill holes have been completed at Tartan Lake. To have one hole of a small drill program intercept the second highest grade ever reported at Tartan Lake is a very encouraging result. The hanging wall mineralization intersected in hole TLMZ21-12 may represent a new zone of gold mineralization that parallels the Main Zone. The signature quartz-carbonate veining is absent in the hanging wall zone. The high-grade mineralization is associated with felsic intrusives and increased sulphide content, which is further evidence suggesting that the hanging wall mineralization could reflect a new zone of mineralization. Additional drilling to evaluate the extent of the hanging wall mineralization at depth to the west is certainly a priority for 2022. We are currently finalizing a ground based induced polarity (IP) survey of the Main, South, McFadden and Ruby Lake targets. We believe that the IP survey will identify additional, undrilled targets within the host shear zones. Our plan is to complete the IP survey in Q1-2022 and start a follow up drill program late in Q1-2022.â€
The Tartan Lake Project (2,670 Ha.) is located approximately 12 km northeast of Flin Flon and includes the Tartan Lake Mine (1986-1989) which produced 36,000 ounces of gold before the mine was shut down due to, in part, the price of gold falling below US$390/oz. Remaining infrastructure includes: an indicated resource estimate of 240,000 ounces averaging 6.32 g/t gold, an all-season access road, grid connected power supply, mill, mechanical, warehouse and office buildings, tailing impoundment and a 2,100 metre decline and developed underground mining galleries to a depth of 300 metres from surface.