ValGold Resources Ltd TSXV:VAL in joint venture with Northern Gold Mining Inc TSXV:NGM announced assays from the Garrcon Deposit on the Garrison Gold Property, Ontario. Results include 0.52 g/t gold over 182 metres (including 1.11 g/t over 40 metres and 20.86 g/t over 1 metre), 0.72 g/t over 187 metres (including 1.1 g/t over 14 metres and 6.31 g/t over 6 metres), 0.65 g/t over 20.3 metres and 0.58 g/t over 26 metres. Northern has an option to earn up to an 80% interest in the Garrison Gold Property and is the project operator.
Northern President/CEO Martin Shefsky tells ResourceClips.com, “We currently have an option agreement to earn up to 80% of the property. That option is with ValGold Resources we’re currently well into the earn-in, and expect to earn the 80% by the end of this year. ValGold has been very good to work with. The property itself is located about 30 kilometres west of the Quebec border on Highway 101. It’s located between St Andrew Goldfields‘ Holt-McDermott mine and mill and Brigus Gold Corp‘s Black Fox Property—both on Highway 101.
“I thought the assay results released today were very good. But more importanly, they were very consistent with the results we’ve reported throughout this program. The plan going forward is a 30,000-metre drill program. We would hope to expand that as the year moves on. We are currently in the process of updating our NI 43-101 resource, which should be available by the end of Q1. As part of that we’re also preparing a Preliminary Economic Assessment.”
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Northern Gold Mining Inc
Martin R. Shefsky
or ValGold Resources Ltd
Stephen J. Wilkinson
by Ted Niles