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Tuesday, 28th November 2006 (3277 views)

Pele Mountain Resources has discovered more gold mineralisation in northern Ontario.

The company's Highland Project features the important area of Gutcher Lake Stock. This area has recently been subject to an extensive and airborne survey and three anomalies were found.

They have subsequently been drilled and one was so successful that it was named the Wolverine Zone and work there is set to continue with results announced at a later date.

Pele Resources also had luck with their Sudbury Project which is also in northern Ontario.
Here they have extended the strike length to 3.5 km as well as finding a second offset dike just one kilometre west.

Al Shefsky, president and chief executive officer at Pele President, said: "Our partners at Wallbridge are doing outstanding work and we congratulate them on these important new discoveries.

"Results to date at Pele's Sudbury Project demonstrate strong potential for mineralization relating to both offset dike and footwall geology."

Highland is deemed suitable for such gold exploring activities because it has an existing regional infrastructure.

 

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