by Greg Klein | July 25, 2016
Following up on last year’s high-grade samples, Kapuskasing Gold TSXV:KAP now has a drill program underway at its Rollo project in northern Ontario. On July 25 the company announced that three or four holes, each about 50 metres’ depth, will test the property’s Racicot gold showing.
Channel sample results from the area in August 2015 included 8.82 grams per tonne gold over 0.6 metres. Grab samples assayed as high as 1, 1.89 and 11.41 g/t gold.
The Racicot showing appears to be associated with a north-bearing quartz, quartz carbonate vein system crosscutting east-west trending mafic metavolcanics and a syenite/porphyry dyke system that trends sub-parallel to the metavolcanics, the company stated. “The drill program is designed to get a better understanding of these geological relationships.”
Kapuskasing’s portfolio includes seven properties along extensions of the Destor-Porcupine structure or Goldcorp’s (TSX:G) Borden gold project. Earlier this month Kapuskasing closed a $246,600 private placement.