Carlisle Goldfields Reports First Drill Results from Last Hope Project

Carlisle Goldfields has released preliminary results of the 15-hole, 4000 m drilling campaign carried out at the Last Hope project, which have been formerly drilled and explored to a large extent.

The company encountered a historical resource of 888,000 t of mineralization at a grade of 9.4 g/t gold. This indicates more than 270,000 oz of gold. Carlisle measured most of this mineralization in 150 m of surface. The Last Hope project lies about 20 km towards the south-eastern part of Lynn Lake in Manitoba and 6 km towards south of the company’s Linkwood and Burnt Timber projects.

The company began drilling at the Last Hope project during early July, wherein the program was designed specifically to extend the non-compliant resource over about 1 km of strike and to obtain more mineralization to the indicated and measured resource categories.

The company encountered 6.0 g/t gold over 3 m and 2.8 g/t gold over 8 m in hole LH12-01, and 9.8 g/t gold over 3 m and 5.1 g/t gold over 7 m in hole LH12-02.

Carlisle Goldfields’ Vice-President of Exploration, Peter Karelse stated that the Last Hope deposit is quite an exciting project. Previously, the deposit has been drilled at shallow surface and stays exposed along strike and at depth. There is excellent potential to build upon the non-compliant resource.

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