GTA Mining and Resources Inc. (TSXV:GTA) Monday reported initial drill results from Big Duck Lake located 25km north of Schreiber, Ontario
SmallCapPower | January 16, 2018: Solid results to start. On January 15, 2018, GTA Mining and Resources Inc. (TSXV:GTA) reported initial drill results from Big Duck Lake located 25km north of Schreiber, Ontario. All holes hit and confirmed mineralization and were targeted within the historic pit shell. Results reported are from four holes, highlighted by 1.65 g/t Au over 44.0m, including an interval of 5m grading 5.9 g/t Au, as well as 36.8m grading 1.01 g/t Au. This drill program targeted the Coco-Estelle gold zone near surface, down to a depth of 90m.
What grades could make an open-pit mine in Canada? As shown below, most of the more well-known operating open-pit mines in Canada have reserves that range 1 g/t Au or lower. While these results are very early days, the results released Monday showed solid near-surface gold grades to begin, which in our opinion, justify a follow up program.
The historic Winston Lake Mine produced at similar gold grades. For reference, Big Duck Lake is located 4km east of the Winston Lake mine, which produced 2.68Mt grading 1.05% Cu, 12.05% Zn, 1.07 g/t Au and 31.37 g/t Ag over 11 years.
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