The Bear Lake Gold Ltd
Acquisition, exploration & development of mineral properties in North America.
Message: Adds a Third Drill Rig at Larder Lake
| January 22, 2009 |
| Bear Lake Gold Adds a Third Drill Rig at Larder Lake |
| LONGUEUIL, QUEBEC--(Marketwire - Jan. 22, 2009) - Bear Lake Gold Ltd. (TSX VENTURE:BLG) (the "Company") announces that it has mobilized an additional drill rig to accelerate the pace of the Phase 1 exploration program totalling 11,000 meters at its Larder Lake Project in Ontario. Recently, the contractor managed to drill successfully through a bad ground area associated with a fault located about half way between the carbonate and the flow mineralized zones at Bear Lake. This fault is responsible for the abandonment of several deep drill holes. These missing intercepts are important for a thorough evaluation of the Bear Lake zone. Management recently decided to return to previously abandoned holes and deepen them to test the second mineralized zone. However, the progression was very slow and, to accelerate the program, management added a third drill rig to the project. "Successfully drilling through this difficult ground area between the two mineralized zones was a significant event for Bear Lake", said Francois Viens, President and CEO of Bear Lake Gold. "Although the fault is located at a safe distance from the mineralized zones, this technical achievement will allow us to deepen the previously abandoned holes and test the second mineralized zone without having to redrill the hole entirely; resulting in significant cost savings for the Company." Larder Lake Project The Larder Lake Project is located 35 km east of Kirkland Lake in Northern Ontario and 5 km west of the former Kerr Addison Mine, which produced over 11Moz of gold until its closure in the 90's. The Larder Lake Project straddles some 11 km of the Cadillac-Larder Lake Break, one of the most significant gold producing trends in the world. Several historic small gold producers have operated on the project namely the Cheminis, Fernland and Barber-Larder mines. In 2007, new high-grade gold zones were discovered at Bear Lake and Fernland. The drilling program also confirmed that gold-rich mineralization occurs in other parts of the project. Two drills will concentrate on defining and expanding the Bear Lake zone, already confirmed to a depth of more than one km from surface, while the third drill will investigate additional targets on the project. These targets are all located within the same rock units that host most of the gold occurrences along the Cadillac-Larder Lake Break; including the former Kerr Addison mine. Qualified Person The technical content of the information contained in this news release was reviewed and approved by Mr. Bernard Boily, P. Geo., and Vice President Exploration of the Company. Mr. Boily is responsible for supervising the drilling program and is a qualified person under National Instrument 43-101. |
2 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply