Monday, 21st April 2008 (517 views)

Canadian exploration company New Island Resources has announced the results of target drilling at its Nugget Pond property on the Baie Verte peninsula of Newfoundland.

The firm said drilling had been carried out on previously-identified gold prospects in the Long Pond-Castle Rock area of the site, in the north-east portion of the Nugget Pond claim blocks.

This area, known as the Nugget Pond Horizon, sits approximately nine kilometres north-east of the formerly producing Nugget Pond gold mine.

Previous investigations in this part of the site returned grades of 111.5 g/t gold from grab samples and 25.4 g/t gold over 1.1 metres from channel samples.

Results from the most recent round of drilling included intercepts of 3.6 g/t gold over three metres and 4.2 g/t over 2.3 metres from the hole designated TC-07-01.

Other returns included grades of 3.97 g/t gold over 0.5 metres, 2.03 g/t gold over 1.1 metres and 0.79 g/t gold over 0.9 metres.

New Island said it now intends to carry out further geological and geophysical exploration work to identify other potential targets at the property.

The company acquired the 4,370-hectare Nugget Pond land parcel in October 2006.

 

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