- Signature Resources (SGU) gives a project update on drilling activities at its 100 per cent owned Lingman Lake Gold Project
- The 2,500-meter winter drilling program is ~35 per cent complete and remains on schedule
- Assay results from this first batch of samples are expected sometime within the next four weeks
- The Lingman Lake gold property consists of 1,389 staked claims
- Signature Resources Ltd. (SGU) is up 2.63 per cent and is trading at C$0.20 at 12:34 pm ET
Signature Resources Ltd. (SGU) updates the ongoing 2,500-meter winter drill campaign at its Lingman Lake Gold Project located in Northwestern Ontario.
The 2,500-meter winter drilling program is ~35 per cent complete and remains on schedule.
The first shipment of assay samples was delivered to the lab this week.
Assay results from this first batch of samples are expected sometime within the next four weeks.
Despite challenging winter conditions and Covid-19 related restrictions, drilling activities at the project remain on schedule with the Signature Resources’ 100 per cent owned drill rig.
“The exceptional work of our site management, exploration team, drilling crew, and camp support personnel have resulted in our ability to start and sustain drilling on schedule,” said Robert Vallis, President, CEO, and director of Signature Resouces Ltd.
“We await in great anticipation the first batch of assay results in the coming weeks,” added Vallis.
The Lingman Lake gold property consists of 1,389 staked claims, four freehold full patented claims and 14 mineral rights patented claims totalling approximately 26,393 hectares.
The property hosts a historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off).
This includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
Signature Resources Ltd. (SGU) is up 2.63 per cent and is trading at C$0.20 at 12:34 pm ET.