- Signal Gold (SGNL) is releasing the latest exploration drill results from its Point Rousse operation
- The project is located in the Baie Verte Mining District of Newfoundland
- The diamond drill program included 4,222.0 metres in 29 drill holes testing five main exploration targets
- The company also completed and received data for a total of 90.1-line kilometres of Induced Polarization ground geophysical surveys
- Signal Gold is down 2.44 percent, trading at $0.40 at 10:41 am ET
Signal Gold (SGNL) has released the latest exploration drill results from its Point Rousse operation.
The project is located in the Baie Verte Mining District of Newfoundland.
The diamond drill program included 4,222.0 metres in 29 drill holes testing five main exploration targets.
The Toronto-based company also completed and received data for a total of 90.1-line kilometres of Induced Polarization ground geophysical surveys on three grid areas.
The information has helped the company identify new exploration targets.
“Our exploration programs at Point Rousse continue to identify new areas of exploration potential while also demonstrating the presence of large gold bearing systems, particularly in the Goldenville Trend where we see continued success along the Pumbly Point-Corkscrew-Big Bear corridor. Additionally, the discovery of gabbro-hosted mineralization at Animal Pond is significant in possibly identifying a new gold trend similar to Argyle and Stog’er Tight. The continued discovery of additional gold mineralization and identification of several high-priority targets from an extensive IP survey underscores the potential to delineate additional mineral resources proximal to the Company’s operating mill and tailings facility at Point Rousse,” said President and CEO Kevin Bullock.
Signal Gold also operates mining and milling operations in Newfoundland, including the fully permitted Pine Cove Mill, tailings facility and deep-water port, and 15,000 hectares of highly prospective mineral property, including those adjacent to a past producing mine.
Signal Gold is down 2.44 percent, trading at $0.40 at 10:41 am ET.