Dragon drills encouraging gold intercepts
THE DRILL SERGEANT: Dragon Mining has received the final results from the fourth phase of drilling it has undertaken on the Juomasuo deposit at the company’s Kuusamo gold project in northern Finland.
The results received by Dragon include analysis for the last six holes in this campaign, which have returned encouraging gold intercepts including:
– 5.10 metres at 5.32 grams per tonne gold and 3.55 metres at 15.07 grams per tonne gold; and
– 5.50m at 6.05 g/t gold;
– 8.10m at 6.16 g/t gold; and
– 31.90m at 45.67 g/t gold.
The 14 hole, 4,100 metre Phase 4 campaign of drilling was designed to examine the strike and depth extensions of identified lodes in the northern portion of the Juomasuo deposit.
This campaign has returned a series of intercepts including the previously released highlights of:
– 4.10m at 11.69 g/t gold;
– 3.15m at 11.07 g/t gold; and
– 25.60m at 9.66 g/t gold.
Dragon mining said the results have confirmed the continuity of already identified lodes at Juomasuo, as they have returned grades that correspond with historic intercepts.
The company also said the results highlight the potential of the eastern area, which had previously been subjected to limited shallow drilling.
“Multi-element analysis also returned a number of strong cobalt intercepts and elevated levels of rare earth elements, either in conjunction with gold mineralisation or separately, as well as the occurrence of sporadic elevated levels of copper and uranium,” Dragon Mining said in its ASX announcement.
The Juomasuo gold deposit is the largest of the five deposits Dragon Mining has identified so far on the Kuusamo gold project.
Dragon has carried out the Phase 5 drilling campaign at the Juomasuo deposit completing a further 17 holes for 2,635m.
The company is now waiting on results from 16 of the 17 holes, which tested the near surface strike extensions of the identified lodes in the southern portion of the Juomasuo deposit.
Results from the more recent campaign will also be used to evaluate the extent and geometry of mineralisation in the eastern and north eastern areas.
The first hole from the Phase 5 drilling returned a high grade preliminary intercept of:
– 17.75m at 16.59 g/t gold.
Dragon said it considered this result to be very encouraging, as it confirms the depth and strike continuation of the lode system in the northern portion of the deposit.
Two diamond core rigs are currently progressing Phase 6 of drilling at Juomasuo, in an 8 hole 3,400m campaign that is testing the depth and strike extensions of identified lodes in the southern portion of the deposit.
A third rig is drilling a second campaign of 8 holes for 1,100m at the Hangaslampi deposit following the completion of a 7 hole for 1,000m campaign at the Pohjasvaara deposit.
