SRGL another hot gold play up 12% today at its 52week high of 1.06. I wonder how high it will continue to go?
News from the 27th: Source Gold Corp. (OTCBB:SRGL) is pleased to announce that the company has received initial results from samples assayed by Accurassay Laboratories in Thunder Bay, Ontario, Canada. The samples were taken from the KRK West Property in the Beardmore-Geraldton Greenstone Belt in Northwestern Ontario, Canada.
Based upon the initial exploration program of trenching, channel sampling, geological mapping and a TEM survey covering our claim group on over 15 square miles of the KRK West Property, the Company has identified three main areas of interest.
The first area of interest is the Little Brother Claim Group, where a number of samples were taken from an area along a northern grandiorite with intermediate volcanics, which yielded visible gold occurrences. Assay results from this initial sampling program have yielded very encouraging high-grade gold assays of 9.55/oz per ton (270.74 grams/ton). Separate samples assayed from this area have similarly yielded very high-grade copper of 15.5%.
The second area of interest is close to the eastern portion of the property east of Peddle Lake. This area is the most active on the property where a number of drill collars belonging to a previous operator were drilled during the 1970's. The ground observations in the trenches and historical assessment have indicated a large disrupted zone carrying high gold and silver values.
The third area of interest is the most westerly area of the property near Musca Lake, along a continuous shear zone. The Musca Lake zone consists of a quartz flooded shear which pinches and swells along its strike length.
"These high-grade gold and copper assay results are amongst the highest values I have witnessed to date in my career," Lauren Notar, President of Source Gold Corp. comments. "We are very excited by our initial trenching and sampling program which has uncovered a number of highly mineralized areas of interest. As more samples are assayed, we look forward to better understanding the distribution of the occurrences and controls on mineralization within our claim group."
The Company will continue with an aggressive exploration program, centered on the major fault lines and areas of interest which traverse our mineral claims. Accurassay Laboratories is currently processing more than 250 trench samples from the Company's three main areas of interest on the KRK West Property, and further assay results are expected within the next few weeks.
About Source Gold Corp.
Source Gold Corp. is a publicly traded junior mineral exploration company trading under the symbol SRGL.OB. The Company's corporate philosophy is to build shareholder value through the exploration and development of high quality mining and exploration projects in Canada, concentrating on gold in the prolific Beardmore-Geraldton Gold Camp in North Western Ontario.
AI
