Lakeland Resources has announced the phase II drilling results from its Midas property in Ontario.
The company drilled 1,500 m, totaling 11 holes, in August 2011. It drilled five holes from M-11-10 to M-11-14 to follow-up the gold zone, M-11 and M-16. Lakeland drilled the hole from M-11-06 to M-11-09 to examine induced polarization (IP) anomalies that occur at the western part of the region of discovery.
Drilling of further two holes from M-11-15 to M-11-16 was done to examine additional targets, situated to the main M-11 and M-16 discoveries’ northeast section. The company has encountered significant gold, including 5.99 g/t gold over 0.7 m in the hole M-11-09.
These drilling results have validated the existence of a wide gold-bearing formation, by outlining a strike of more than 500 m long. After conducting geophysical surveying, mapping and drilling, the company concludes that this abundant gold system is located along the southern limb, and along a near-surface, east, plunging nose of a wide anticlinal fold structure. This geological setting is considered suitable for gold mineralization.
Recently, Lakeland has completed a mechanical trenching and stripping campaign at a fresh gold discovery, which is situated around 500 m to the M-11-04 hole’s western part. It identified major gold mineralization by prospecting along the strike and to the western part of the Midas gold trend. This mechanical stripping has defined the zone mineralization that is about 22 m to the east. As part of the program, the company washed, channel sampled and mapped the open region and also additional two areas. It collected and submitted 92 saw cut channel samples for assaying.
A further exploration campaign has been scheduled for the winter season and this plan will also include the current grid extension, IP survey and further diamond drill program. Lakeland will plan this program to appraise the Midas gold trend, fresh discovery and to examine many remaining I.P. anomalies.