Exploration has begun at Reliant Gold Corp.'s 100 per cent-owned Borden Lake South property, located 20 km east of the town of Chapleau.
The work is being undertaken by Probe Mines Ltd., which has an option agreement to acquire up to a 70 per cent interest in the property. The property is comprised of 20 mining claims representing 294 claim units covering 4,704 hectares and is located two km south of Probe's Borden Lake gold discovery.
The program will consist of 1,500 m of diamond drilling and the testing of up to 10 priority targets identified from ground induced polarization (IP) geophysical surveying and magnetic targets located in the north end of the property. This will be the first drilling to take place on the property.
According to a news release, “surface prospecting suggests that the property shares many geological similarities to the area hosting Probe's Borden Lake gold zone, and therefore has potential to host similar gold mineralization.”
In an updated resource estimate, Borden Lake showed an indicated resource of 4.05 million ounces of gold averaging 0.71 g/t of gold, plus an additional inferred resource of 1.797 million ounces of gold averaging 0.62 g/t of gold.
Results from the Borden Lake South drill program will be used to develop further exploration programs on the property.
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