- Minnova Corp (TSXV:MCI) has posted a preliminary update from a shallow drilling program at the PL mine in Manitoba
- While the program has not yet produced assays it has outlined a new mineralized structure with visible gold on the property
- This deposit is consistent with the geology observed at the base of the PL mine’s main deposit, suggesting the two deposits could be linked
- The company will immediately begin follow up drilling if assays prove to be of sufficiently high grades
- Minnova Corp (MCI) is up 20 per cent and is trading at C$0.24 per share
Minnova Corp (TSXV:MCI) has revealed the latest results from drilling on it’s PL mine in central Manitoba.
The Ontario-based junior gold explorer has been running a 2,000-metre program on the property since July 17.
Thus far, shallow drilling has centred around tracing the PL mine’s main deposit, and its northern extension.
The company has stated that the results appear to be defining a new mineralized vein structure in a geological pattern that would normally occur at the footwall of the main deposit.
If the incoming results are consistent with the visible gold observed in the scores, then the area could be rapidly advanced with further drilling.
This would feed into the planned updated resource estimate and possibly begin in a renewed feasibility study for the project.
All of the strikes are within the minerals leases and within 350 metres of the PL mine Mill and other site infrastructure, which would bode well should this deposit ever proceed to production.
Gorden Glenn, the CEO of Minnova said the PL Mine mineral lease and the surrounding property had provided the company with exceptional exploration and resource expansion potential.
“This drill program was designed to demonstrate the on-lease exploration potential.
“We are pleased to see a new mineralized vein structure emerging in the Tonalite where visible gold has been observed in core on our initial two holes.
“We encourage our shareholders and new investors to watch our social media accounts for pictures and updates on our 2020 summer drilling and exploration program,” he said.
Minnova Corp (MCI) is up 20 per cent and is trading at C$0.24 per share at 3:06 pm EDT.