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McLaren Resources completes 1st exploration drill program on McCool Property

Sep 19, 2022

McLaren Resources has completed a phase one exploration diamond drilling program on its 100%-owned McCool gold property which is located in the prolific Timmins Gold Region where well over 70 million ounces of gold have been produced to date. 

The first phase diamond drill program consisted of 2,392 metres ("m") of core drilling in 6 holes. The primary purpose of this drill program was to further evaluate and trace the significant gold mineralization known to exist on the property along the Centre Hill Fault from the work of previous owners undertaken during the period 1982-1987 (see August 31, 2022 news release, Table 1, containing selected historical drill results from the McCool property - Placer Development Limited). 

This drill program also tested induced polarization ("IP") and ground magnetic ("GM") geophysical anomalies that were outlined from ground geophysical surveys completed on a portion of the property in February 2022 (see news release dated February 23, 2022). These types of ground geophysical signatures discovered on the property are known to be closely associated with gold occurrences elsewhere in the general area. 

The six holes were drilled on approximately 50 m centers along the favorable target area. All core from the current drill program has been logged and 699 samples have been selected, sawn in half with half being sent to an assay laboratory for gold analysis. Assay results will be released once all assays have been received, complied and interpreted. It is anticipated that this process will take approximately 5 to 6 weeks to complete. 

The favorable exploration target area occurs on the eastern portion of the 1,650 hectare ("ha") McCool gold property (see Map 1 below showing the favorable target area for gold in relation to the Centre Hill Fault, the sub-parallel Camrose Fault, and the McCool Anticline). The first phase exploration drill program focused on a select portion of the Centre Hill Fault, a northwest trending fault structure which runs along the south side of the McCool Anticline and which is known to host significant gold mineralization on the McCool property. The Centre Hill Fault is interpreted to be a splay off of the major Destor-Porcupine Deformation Zone which is host to many gold deposits in the general area (see Map 2 below showing the location of the major gold-bearing faults, gold deposits and the property ownership of the various companies actively working in the area).

Tags: Northern Ontario / Exploration / Gold / All Articles