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Monday, 22nd October 2007 (2825 views)

A new gold and base metal anomaly has been identified on the Goldcreek property west of Thunder Bay, Ontario, according to Mengold Resources.

Some 20 per cent of a batch of 500 geochemical till samples, taken from the property's Centre Zone, have indicated gold anomalies, which lead the company to believe that a new trending fault or shear zone on the site covering a length of 1.2 kilometres is anomalous in gold.

Over 3,300 samples were taken from geochemical surveys conducted on the property in early October, with analysis results expected to be released from the laboratory in stages.

According to geologists on Mengold Resources' field crew, the area displays evidence of an exhalative volcanic centre, which could indicate the potential discovery of a gold deposit similar to the one discovered at the Rainy River project owned by Rainy River Resources.

Mengold Resources has currently focused its efforts on the acquisition and exploration of properties in the Canadian provinces of Ontario and Quebec.

It currently has three projects currently underway – Burchell Lake and Goldcreek in Ontario and Mountain River in Quebec.

 

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