Friday, 20th October 2006 (2407 views)

The Larder Lake Project, in northern Ontario, has just been successfully explored by Maximus Ventures and significant gold mineralisation has been announced.

New Jersey based Maximus has made six additional diamond drill holes as part of an exploration program of up to 24 holes which had been planned for completion by the end of 2006.

Frederick Graybeal, president of the company, said: "Maximus is sufficiently encouraged that drilling continues to intersect significant zones of gold mineralisation to have added a second drill rig and will extend the 2006 drilling into late November."

A 57.9-metre wide zone of anomalous zone was discovered during drilling which suggests that underneath there is potential for near surface bulk tonnage.

This could be "amenable to open pit mining" according to Mr Graybeal.

Larder Lake Break is the location for this project and it connects to other faults over a 200 kilometre stretch including Val d'Or.

Lots of important gold mining districts are situated nearby such as Kirkland Lake.

Last month Maximus announced resumed drilling at Nunavet, also in Canada, at its Hope Bay project.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.