- Magnum Goldcorp (MGI) has provided its 2022 plans to further explore the company’s LH Property located near Silverton, British Columbia
- Pad builders are on site preparing two new pad locations
- The program will consist of at least 1,100 metres of helicopter-supported drilling to continue evaluation of an interpreted gold-bearing, pyrrhotite-hosted vein system
- The LH Property is a gold exploration property consisting of 19 contiguous crown granted claims and seven mineral claims
- Magnum Goldcorp is engaged in the acquisition and exploration of mineral resources
- Magnum Goldcorp Inc. was up 8.3 per cent $0.065 at 2:35 PM ET
Magnum Goldcorp (MGI) has shared its plans to further explore the company’s LH Property located near Silverton, British Columbia, in 2022.
With a two-year Multi-Year Area Based (MYAB) work permit in hand for its LH Property, the company has initiated a diamond drill program to further explore its LH Property.
Pad builders are on site preparing two new pad locations.
The program will consist of at least 1,100 metres of helicopter-supported drilling to continue evaluation of an interpreted gold-bearing, pyrrhotite-hosted vein system, interpreted to comprise multiple en echelon veins previously identified in both underground workings and diamond drilling.
Drillers have initiated drilling and will be on site for the month of June.
The 2015 drill program documents highly anomalous gold results, up to 20.76 g/t over 11.0 m, from a total of 11 drill holes drilled at a shallow to moderate angle to the vein system.
The follow-up program that held in 2017, comprising five holes drilled at a moderate to high angle to the vein system, documented slightly lower gold grades, up to 1.59 g/t over 11.97 m.
A third drill program in 2019, comprising four drill holes drilled at a moderate to high angle to the vein system, returned up to 5.15 g/t over 5.58 m.
True widths for mineralized intervals documented to date vary between approximately 0.5 to 9.00 m for multiple veins to vein segments comprising an interpreted en echelon system.
The pyrrhotite-bearing veins and vein segments return strong magnetic signatures, spatially associated with underground workings developed along the vein system, as well as the 2015 mineralized drill intercepts.
The LH Property is a gold exploration property consisting of 19 contiguous crown granted claims and seven mineral claims, located approximately 7 km south of Silverton, British Columbia, on the east side of Slocan Lake.
Magnum Goldcorp Inc is mainly engaged in the acquisition and exploration of mineral resource properties.
Magnum Goldcorp Inc. was up 8.3 per cent $0.065 at 2:35 PM ET.
