Wabi Exploration, a junior exploration firm, has reported the current field work results from the Elbow Lake project.
It holds a 100% interest in this project, which is a grassroots exploration property that has an area of 26 sq. km and has several high-grade gold deposits, in which most of the area is not examined at a considerable depth. The company has received the assay results of the primary grab and chip sampling program, including 33.7 g/t gold over 0.2m.
The company has taken the samples from the locations of the past exploration workings or from the outcrop. It has performed a VLF survey at the property and discovered numerous conductors, which needs follow-up prospecting. The subsequent work stage will include three-dimensional induced polarization surveys to be conducted over the recognized gold mineralization region, which was not examined at depth with an intention to find both low-grade gold deposits in bulk tonnage and hosted high-grade quartz layer.
The results of the phase I program authenticate the existence of an extremely gold-rich mineralizing system, which has extensive presence of gold at the property outlining a long trend of some kilometres. Only the surface of the property has been scraped and the company will focus on additional exploration work by employing new methods for discoveries.