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VR Resources acquires Hecla-Kilmer property in Ontario
  • Signature Resources (SGU) has completed a field work program at its Lingman Lake gold property ahead of an upcoming winter drilling campaign
  • The program was carried out in two components, the first of which involved north-seeking gyro surveys of 104 historic drill holes
  • A second component included evaluation and sampling work at six predetermined target areas
  • A base camp has now been re-established in preparation for the drilling work, which is expected to begin early next year
  • Signature Resource (SGU) is currently steady at C$0.06 per share

Signature Resources (SGU) has completed a field work program at its Lingman Lake gold property ahead of an upcoming winter drilling campaign.

Located in northern Ontario, the wholly owned property consist of 600 claims over a total of 11,725 hectares.

It hosts more than 27 kilometres of strike length, and sits just 80 kilometres south of Yamana Gold's Monument Bay Project and 218 kilometres northwest of Goldcorp's Musselwhite Mine.

The program was completed in two components. The first included a number of borehole north-seeking gyro surveys in 104 holes that were drilled in the late 1980s.

Signature Resources says it will use this data to calculate a new, more accurate resource model, and to determine the location of high-priority targets for an upcoming winter drilling campaign.

The second component involved an assessment by a team of geologists and prospectors of six predetermined targets that were identified using previously collected data. This data was gathered from earlier airborne surveys, as well as geological mapping and satellite imagery.

The helicopter-supported assessment focused on evaluating and sampling any mineralisation encountered in the six target areas.

Today's announcement noted that more detailed results from the program will be released in the near future.

Walter Hanych, CEO of Signature Resources, said he is pleased with the success of the program, which yielded a number of at-surface discoveries.

"The results from this current prospecting work will help determine the continuity of the shear system and possible associated mineralisation.

"Further prospecting, mapping, and sampling in future work programs will be planned for next summer season," he added.

Signature Resources has now re-established a base camp in preparation for a winter drilling campaign, which is expected to begin early next year.

Signature Resource (SGU) is currently steady at C$0.06 per share at 2:09pm EDT.


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