- Stone Gold (STG) reports the exploration results from its Mt. Jamie North Drill Program contained no significant gold values
- The initial drill program on the untested Mt. Jamie North Property consisted of 3 diamond drill holes
- Located in Ontario, the Mount Jamie North was acquired for its proximity to the Mount Jamie Mine shaft, which is located 300 metres away along strike
- The company says the results do not determine the viability of a project
- Stone Gold is down 28 per cent on the day, with shares trading at C$0.09 at 12:57 pm ET
Stone Gold (STG) reports the exploration results from its Mt. Jamie North Drill Program contained no significant gold values.
The initial drill program on the untested Mt. Jamie North Property consisted of 3 diamond drill holes.
The Mount Jamie North Property is located in Ontario and was acquired for its proximity to the Mount Jamie Mineshaft, which is located 300 metres away along strike.
The highest assays encountered contained silicified and serialized tuff and 5 per cent quartz veinlets with trace disseminated pyrite.
Despite the findings, the company is not writing off the property as a whole.
“The initial drill results from the Mt. Jamie North Project are disappointing. However, a 952-metre drill program does not determine the viability of a project, and we intend to further exploration of additional targets by way of surface sampling and trenching at Mt. Jamie North in late 2021.
As previously planned, the company intends to focus on the Batchewana Bay projects north of Sault St. Marie. The Glenrock Gold Project is drill-ready with historical diamond drill gold grades of 15.2 metres of 1.3 gt/Au. and 33 metres of 0.5 gt/Au. The recently acquired Tribag and East Breccia Cu/Mo/W/Re projects are accompanied by an extensive database of brownfields exploration data from the former Tribag Copper Mine.
The data is currently being inputted and modelled by Ronacher MacKenzie Geoscience Inc. located in Sudbury, Ontario. We aim to identify multiple targets for diamond drilling in late 2021,” said Stone Gold President and CEO John Timmons.
Stone Gold is down 28 per cent on the day, with shares trading at C$0.09 at 12:57 pm ET.
