Dragon Mining intercepts more Finnish gold

/in /by

THE DRILL SERGEANT: Scandinavia-focused ASX-listed Dragon Mining informed the market regarding results from the second phase of drilling from the Juomasuo gold deposit at the company’s Kuusamo gold project in northern Finland.

Analysis of the last three holes in the program returned promising gold intercepts, including 4.15m at 6.10 grams per tonne gold and 5.25m at 5.11 g/t gold.

The nine hole, 3,500 metre second phase of drilling was carried out between February and April and was designed to examine the strike and depth extensions of the known lodes in the southern portion of the Juomasuo deposit.

Dragon said the program had returned a series of encouraging intercepts, which include previously reported intersections of:

– 13.65m at 3.13 g/t gold;

– 9.95m at 3.81 g/t gold;

– 34.90m at 9.30 g/t gold;

– 3.55m at 10.39 g/t gold; and

– 7.30m at 8.18 g/t gold.

“The program has continued to confirm the continuity of the lodes at Juomasuo, whilst also highlighting the potential of the mineralised system below the existing resource base,” Dragon Mining said in its release to the Australian Securities Exchange.

“Multi-element analysis has also returned a number of strong cobalt intercepts and elevated levels of REE either in conjunction with gold mineralisation or separately, as well as the occurrence of sporadic elevated levels of copper and uranium.”

Dragon Mining said it will be set to resume the drilling program at the end of July following the requisite break for the northern summer.

Drilling will continue with two diamond core drill rigs recommencing activities on a 14 hole, 4,200 metre program targeting the strike and depth extensions of the known lodes in the northern portion of the deposit.

The company has already received, and reported, preliminary results of 8.95m at 11.42 g/t gold and 8.40m at 10.06 g/t gold from the first of the 11 holes already completed in this program.

A third rig will recommence drilling on the final 10 holes of a 21 hole, 2,100 metre program that has been designed to test the Hangaslampi deposit, 1,000 metres south of Juomasuo.