Gold Canyon Resources has declared the assay results from its 2012 winter drill campaign conducted at its Springpole Gold Project in the Red Lake Mining Camp, Ontario, Canada. SP12-118 diamond drill hole was drilled on the 0+450 m segment line at an inclination of -45degrees and at an azimuth of 220 degrees true north.
This hole returned 188.3 m at 1.93 g/t gold, including 71 m at 3.80 g/t gold. These results are quite similar to those intersected in SP11-106 hole, which was drilled on the 0+500 m segment line 50 m to the northwest. This higher grade shoot is exposed at depth.
SP12-119A diamond drill hole is located on the 0+600 m segment line and returned 3 m at 41.37 g/t gold in a new high grade structural zone between the East Extension and Portage zones. The precise direction and thickness of this high-grade structure is unclear. SP12-113 and SP12-117A diamond drill holes are located on the 0+300 m segment line and were drilled at an inclination of -45° and at an azimuth of 220° true north. These holes tested the marginal portions of the Portage zone and returned long intervals of gold mineralization in regions roughly 50 m below the National Instrument 43-101 compliant resource model.
SP12-114 diamond drill hole returned 115.6 m at 1.11 g/t gold before ending in mineralization at 569.6 m. This indicates an actual depth of 400 m beneath the surface and is one of the deepest holes to be drilled in the Portage zone. SP12-115 and SP12-116 vertical diamond drill holes and SP12-121 hole returned several mineralized intervals that are typical of this intermediary region between the Main and Portage zones. The deepest intercept in SP12-116 drill hole falls about 120 m beneath the National Instrument 43-101 resource model. SP12-120 diamond drill hole encountered a long interval of gold mineralization, which is 202 m at 0.51 g/t gold before ending the mineralization. It appears that this drill hole intersects the Portage zone’s lower grade upper margin, while the higher grade core dips below this intercept.
Once the ice is cleared from the lake, two perpendicular holes that were drilled from barges will analyze this region.