Brett Resources is starting a 70,000-metre drill program underway on its Hammond Reef gold property in northwestern Ontario.
The company said the information gathered from this in-filling program on its A Zone and 41 Zone will be used to evaluate the drill spacing necessary to move their 5 million ounce resource from the inferred category to the indicated and measured categories. The program will also new potential discoveries found in other gold zones uncovered during their summer exploration campaign.
"Brett's current drill campaign should provide the Company with information so that an advanced stage scoping study that includes an upgraded resource can be produced late in 2010," said Patrick Soares, president and CEO of Brett Resources. "This information will allow us to move the project to a pre-feasibility level. We expect to see the resource grow within the known resource area, and hope that the new exploration areas provides additional targets for further resource growth."
The program continues into the fall of 2010.
Cyr Drilling Ontario Inc. has its first drill turning on the property and has just completed its second hole. A second drill will be added in mid-October. Rainy Lake Tribal Contractors Ltd. of Fort Frances will provide a third drill to test exploration targets later this fall.
A memorandum of understanding ("MOU") was signed with Brett and all eight First Nation communities that consider Hammond Reef part of their Traditional Land.
New exploration targets were identified in several areas that remain to be tested. A scoping study contract was signed with Scott Wilson Roscoe Postle.
The study is due later this year.
Since 2006 Brett's primary focus has been the 100 percent owned Hammond Reef Gold Deposit in Ontario where a C.I.M. inferred resource of 5.2 million ounces of gold, 155 million tonnes at a grade of 1.04 gram per tonne utilizing a 0.6 gram per tonne gold cut-off has been outlined. The company will continue to advance this flagship project.
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