Issue link: http://resourceworld.uberflip.com/i/807573
A P R I L / M A Y 2 0 1 7 www.resourceworld.com 49 ration, such as results of metallurgical testing on bulk samples from 1948. Those bulk samples yielded, from 226.8 kg of rock, results of 0.555 oz/ton (19.0 g/t) gold and 0.78 oz/ton (26.7 g/t) silver. Signature has started its renewed assessment of the Lingman Lake property by developing a new resource model and re-sam- pling the extensive drill core stored on the property, reaffirming historical gold grades as presented in archived drilling data. The 2017 exploration program has the goal "to potentially double the known ounces within a year" by infill drilling (10,000-20,000 metres of NQ drilling), sampling, geological mapping, and even- tually presenting results in a NI 43-101 compliant report as they plan for the 2018 exploration program. "We know where to drill," commented Hanych, mentioning the various high-grade target zones, and emphasizing that the mineralized area is open both along strike (1,000 metres) and to depth (below the previously explored level of 183 metres). The most promising target is the North Zone. Samples from a raise between the 275 and 150 levels, along 30 metres, averaged 28 g/t gold. The geological setting of the Lingman Lake property is the North Caribou Terrane, a greenstone belt in the Sachigo Subprovince of the Superior Geological Province of the Canadian Shield. Archean lode gold occurs in subparallel shear zones and alteration systems in mafic volcanics, which have been silicified and carbonatized in areas associated with feldspar and quartz porphyries (intrusions up to 90 metres wide) on both sides of a north-south trending diabase dyke. The North Zone (-B) provided the strongest assays with selected grades of drill core rang- ing from 3.55 to 136.46 g/t gold in rocks with 1-15% sulphides (pyrite, pyrrhotite, arsenopyrite, chalcopyrite, galena, and sphal- erite). Gold is especially associated with acicular arsenopyrite; rare visible gold has been observed in the past. Lingman Lake is located 325 km north of Red Lake, Ontario, near the Manitoba border. Two First Nations that have some interest in the land, from Sachigo Lake and Red Sucker Lake, are reportedly supportive of the project. The property is 10 km from the wilder- ness of Opasquia Provincial Park, but development at Lingman Lake is not considered to become a problem for the environment. Other mines in the region include Goldcorp's Musselwhite Mine with 1.69 million ounces of gold (proven and possible resources); in 2015, production of 270,300 oz costing US $786/oz. Hanych declared that the Lingman Lake property has "huge exploration potential" and upside for investors to help bring it to the verge of production, when a preliminary economic assessment report would attract the attention of mid-tier companies, which would then develop it further. He concluded "The time is right" for the Lingman Lake property to take its place among the produc- ing mines of the region. n