Signature drills 7.07 g/t gold over 4 metres at Lingman Lake, Ontario
Signature Resources Ltd. [SGU-TSXV; SGGTF-OTCQB; 3S3-FSE] reported the most recent set of drilling results from its ongoing 10,000-metre diamond drill program at its 100%-owned Lingman Lake Gold Project in Ontario using its two 100%-owned diamond drill rigs. This batch of diamond drill holes have successfully extended the North Zone below the 400L (~180 m vertical depth).
Drilling highlights include 7.07 g/t over 4.0 metres in LM21-27, including 11.9 g/t gold over 1.0 metres. Hole LM21-28A returned 3.54 g/t gold over 2.0 metres.
“These holes primarily targeted the largest of the zones, the North Zone, east of the diabase dike below the existing mineralization and continue extending the zones to depth. In particular, the North Zone continues to be a strong target geologically, displaying wide intersections up to 9 metres of very intense silicification, fluctuating sulphide content and variable gold distribution. 2022 drilling will continue to probe all of the zones to depth in the mine area as well as along the eastern strike extent,” said Walter Hanych, Head Geologist.
Robert Vallis, President and CEO, said, “2021 was both an exciting and challenging year for Signature Resources. We successfully staked 90% of the host Lingman Lake Greenstone belt and tested the regional potential with airborne geophysics. In addition, drilling at the Lingman Lake Gold Mine successfully expanded known zones of mineralization both up and down dip. Further, ground-based geophysics revealed several new high-priority targets with the exciting potential to significantly expand the Lingman Lake gold system. I am extremely proud of the entire Signature Team and what we were able to accomplish despite the many challenges we faced and overcame.”
The current 10,000-metre diamond drill program up to and including LM21-30 is testing grade and continuity of the plunging mineralized high-grade shoots and overall mineralized North, South, and Central zones. The focus is below the 400 level (~180 m vertical depth), down dip/plunge target drilling with 30-metre to 50-metre step-outs and to a maximum vertical depth of approximately 350 metres below surface. Drilling in the upper inter-level areas will continue to expand and tighten- up the historically-drilled mineralized envelopes.
As holes are collared further south to test the deeper horizons of the North Zone, the drill holes intersect the South and Central Zones at higher levels. This is evident in drill hole LM 21-27 reported above which hit the zone approximately 19 m below surface. The same zone intersected in LM21-28A, intersected it at a vertical depth of 45 m.
The Lingman Lake gold property comprises 1,434 staked claims, four freehold fully patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property hosts an historical estimate of 234,684 oz of gold (1,063,904 tonnes grading 6.86 g/t with 2.73 g/t cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-metre shaft, and 3-levels at 46-metres, 84-metres and 122-metres depths.