Mountain Lake Resources has identified the near surface gold mineralization in the Sprite zone, which is situated 700 metres northeast besides the strike from Leprechaun gold deposit.
The company has intersected 16.86 g/t gold over 1m in hole VL-11-264. It has also encountered potential gold up to 19.17 g/t gold over 3.0m in hole VL-27, 3.18 g/t gold over 4.1m in VL-35 and 3.01 g/t gold over 4m in VL-50, during the historical drilling at the Sprite zone.
The company has found extensive and near surface gold in VL-11-264 associated with wide historic intervals in Sprite zone that shows the positive potential of gold to enhance the Valentine Lake project. This high prospective target was explored very little in the past because the company was exploring the near Valentine Lake project. Gold anomaly has been present in each hole for about 1.1 km stretch and now it has planned for a drilling in this region.
Exploring in between the Leprechaun Deposit and Sprite Zone will potentially develop an open pit, which expands 700m away from the present Leprechaun Deposit pit border into the Sprite zone.
Eastern Analytical Laboratory in Springdale, Newfoundland has tested the samples. Lead collection fire assay with AA finish is used to assay the samples. Metallic screening technique along with standard fire assay methods is employed due to the coarse nature of gold.