Stone Gold Inc (TSXV: STG), formerly known as CR Capital Corp, this morning announced an exploration update for the recently optioned Jamie North Property, located in Red Lake, Ontario. The program conducted consisted of both prospecting and sampling of the property.
An initial field geological examination has been completed on the property, which is said to include an outcrop and trench sampling program. The highlight sample from the program incudes a grab sample that returned an assayed value of 5.6 grams per tonne gold, which came from a 10 centimetre wide vein found on the property.
The property is believed to have the same geology as that of the neighbouring Rowan and Mount Jamie properties, owned by West Red Lake Gold Mines (CSE: RLG), which contains the historic Mount Jamie and Rowan Mines. A magnetic drone survey was also conducted on the property, which identified favourable trends on the property.
“We are very pleased with how our stepwise approach from property acquisition to data collection and targeting has proceeded and we expect that we will soon have enough vectoring information to be able to target any mineralized extension from the adjacent Mt. Jamie Mine onto the Property.”Brian Howlett, CEO
Stone Gold last traded at $0.165 on the TSX Venture.
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