- Signature Resources (TSXV:SGU) reveals drilling results from its Lingman Lake gold deposit in Ontario
- Initial drilling highlights include 1.84 grams per ton (g/t) gold over 12 metres in hole LM 24-02 and 1.23 g/t gold over 28 metres in hole LM 24-03, indicating significant near-surface mineralization.
- The ongoing 2024 drill program consists of 14 holes, with 12 completed, and is set to inform the NI 43-101 resource estimate expected in spring 2025.
- Shares of Signature Resources are unchanged at C$0.04
Signature Resources Ltd. (TSXV: SGU) has results from its 2024 drill program, providing assay results for the first three diamond drill holes at the Lingman Lake gold deposit.
Highlights from the drilling include:
- LM 24-02 returned 1.84 grams per ton (g/t) gold over 12 metres.
- LM 24-03 reported 1.23 g/t gold over 28 metres.
In a news release, the company stated it has completed 12 of the planned 14 holes, with the final two expected to be finished in early November. These results will form the basis of an NI 43-101 report, which the company expects in early spring 2025.
“We are making very good progress with our work programs, and the new data is crucial for building our understanding of the Lingman Lake Project,” J. Dan Denbow, CEO of Signature Resources, said in a release.
The 2024 drilling campaign consists of 14 holes, totalling approximately 4,650 metres with a primary goal of understanding the deposit and identifying new targets based on an updated geological model.
Continuous core assaying is being performed to provide comprehensive data on gold distribution within the mineralized zones.
Historical drilling has focused primarily on the eastern side of a diabase dyke, revealing four mineralized zones. The current drilling indicates a larger halo of near-surface mineralization, expanding potential resources.
As the final drill holes are analyzed, the company remains optimistic about confirming the convergence of mineralization zones, which could further enhance the resource profile of the Lingman Lake gold deposit.
While the results of additional completed holes are pending, the company anticipates them to provide further insights into the mineralization trends.
Based in Toronto, Signature Resources is an advanced exploration company dedicated to expanding its wholly owned Lingman Lake Gold deposit in the renowned Red Lake district of northwestern Ontario.
The company specializes in precious metals and the Lingman Lake property encompasses around 1,300 staked claims, four fully patented freehold claims, and 14 patented mineral rights claims, totalling approximately 24,761 hectares.
Shares of Signature Resources Ltd. (TSXV:SGU) are unchanged at C$0.04.
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