Signature Resources (TSX-V:SGU) has delivered an initial resource estimate for the Lingman Lake gold deposit in Ontario, Canada, containing more than 20.6 million tonnes of mineralised material.
The indicated resource consists 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.
Structures hosting the mineralisation remain open to further drilling both east, west, and at depth.
Signature Resources intends to follow-up with drilling to potentially expand the resource envelope. The company intends to complete 6,000m of drilling by the end of 2025.
The company is completing the program’s design which will focus on expanding the resource laterally, infilling identified faps in the existing drilling, and extending knowledge of the deposit a depth.
Some of the holes will also be designed to test the deeper extensions of the mineralisation, as the company continues to seek the vector and controls on the gold mineralisation in the Lingman Lake deposit.
CEO J. Dan Denbow says this was a crucial step in confirming the potential of the Lingman deposit.
“In addition, this report demonstrates the depth and quality of the work being done on this project to illustrate the possibilities for this greenstone belt that Signature controls,” Denbow says.
“The work has identified a number of opportunities to expand this initial resource around the historical Lingman Lake mine.
“The studies we are conducting on the mineralogy characterisations and initial metallurgical work to further characterise the deposit should greatly enhance our knowledge and targeting as we test the extensions and look for satellite deposits.”
Denbow adds that all these steps should provide confidence that the company is advancing the project into the “highest quality methods possible”.
With samples also collected from the 2025 drill program, the company anticipates to complete an early-stage metallurgical study to evaluate gold recovery and provide initial insights into processing options.
Signature Resources is a Canada-based advanced-stage explorer focused on expanding its Lingman Lake deposit located within the Red Lake district in Northwestern Ontario.
Write to Aaliyah Rogan at Mining.com.au
Images: Signature Resources
