Signature Resources’ (TSX-V:SGU) CEO Dan Denbow says the company is filling its knowledge bank on the Lingman Lake Gold Project in Ontario, Canada, after completing a field program which continued to delineate surface expressions of mineralisation.
Speaking to Mining.com.au, Denbow says programs like these are important as they are cost effective and beneficial for further developing the company’s understanding of the deposit.
“When you look at Area One and the same for Area Three, there are areas that have been undrilled and trying to understand if that grade’s coming to the surface because we have outcrops where we’ve taken these samples,” the CEO says.
“What we noticed, especially in these two areas, is that there has been this recessive weathering in troughs that have formed.”
At Area One, two samples returned 0.14 grams per tonne gold and 0.21g/t gold, and appear to be in the North Zone mineralised envelope. One grab sample returned a value of 8.26g/t gold.
Signature reports that at Area Two values were generally low, however channel samples of 0.8m and 1m in length yield gold values of 0.24g/t gold and 0.54g/t gold.
At Area Three, channel samples were collected immediately north of the trough and returned low gold values, while Area Four returned 5.45g/t gold and 2.31g/t gold.
Meanwhile, Area Five returned grades ranging from 0.13g/t to 1.27g/t gold.
Signature says a detailed mapping and sampling program is warranted for this area to work out the structural elements within the Lingman Lake Project.
Denbow adds that the company intends to continue growing the Lingman Lake’s resource estimate, which comprises 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, as reported.
“We think it should be 2 to 3 million ounces and that is where we can take it,” he tells this news service.
“Our drilling next will be taken deeper and draw the pit deeper. But this west area, that is where we don’t have the drill density that we have east.”
Denbow notes Signature ideally would like to conduct more drilling in 2025, but due to the Canadian winter months drilling operations will halt in early December.
“You have to do extra work in the cold and it just gets too expensive – it almost doubles your drilling costs.”
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
