San Gold has reported drilling from the 84 Vein located at the Rice Lake mining complex in Canada.
The drilling results received from the 84 Vein have shown significant thickness and grades of gold. The company has intersected 27.1 g/t gold over 15.4 m in the hole 26-11-262 and 13.6 g/t gold over 11.7 m in the hole 26-11-259.
The company received the drill results from a former untested mineralized area present in 100 m of previous infrastructure, which is between the 24 and 26 level of the Rice Lake shaft mine. Mining operations will be commenced by San Gold in the 84 Vein during early 2012. Ramp development from 26 Level is going on and active mining will begin in the first quarter.
According to George Pirie, CEO and President of San Gold, the huge potential of exploration present in the original mining unit has been confirmed. These mineralization discoveries are valuable, as they can be integrated rapidly to the mine plan.
The 84 Vein is present along the San Antonio mine unit, which is a mafic unit related with the gold production of approximately 1.5 Moz from 1931. This program summary includes all diamond drill program continued so far in the 84 Vein from the underground drill locations situated in the Rice Lake mining complex. Totally, the company recorded 35 intercepts from 29 holes in this area.