Signature Resources (TSX-V:SGU) has flagged an initial mineral resource for the Lingman Lake Mine Project in Ontario, Canada, after culminating 240 drillholes and 33,309 assayed samples.
Lingman Lake’s resource contains an indicated resource of 2.15 million tonnes @ 1.38 grams per tonne gold for 95,200 ounces of gold, plus an inferred resource of 18.4 million tonnes @ 1.14g/t gold for 674,320 ounces of gold.
The current resource pit shell extends 1.6km with a maximum width of 400m and a maximum depth of about 340m below surface.
With the mineral resource completed, Signature Resources has identified several opportunities to expand the resource via a targeted 6,000m drilling program this year.
The design of the program is currently being completed, with drilling to focus on expanding the resource laterally, infilling identified gaps in the existing drilling, and extending the company’s knowledge of the deposit at depth.
Signature Resources says extending its knowledge will allow the mineral resource to capture ounces that fall just outside of the current pit design.
Some of the holes will also be designed to test deeper extensions of the mineralisation and expansion of the ‘high-grade’ gold domains in the Lingman Lake deposit.
The Lingman Lake Project sits on the Lingman Lake Greenstone belt and consists of a complexly folded assemblage of mafic metavolcanics, felsic metavolcanics, and metasedimentary rocks.
Signature Resources is a Canadian explorer focused on expanding its wholly owned Lingman Lake Project.
Write to Aaliyah Rogan at Mining.com.au
Images: Signature Resources
