NL based private resource company Puddle Pond Resources is pleased to announce the discovery of a gold and silver mineralized boulder train with assays ranging from 1.15 g/t gold (Au) and 72.5 g/t silver (Ag) to a bonanza grade of 72.98 g/t (2.34 oz/t) Au and 1298 g/t (41.73 oz/t) Ag which is the highest surface assay off the Heritage Project since being acquired in 2012.
Prospecting uncovered 5 angular shaped boulders ranging from small (20 kg) to large (e.g. 500 kg) sizes along a 150 m northeast – southwest trend. Representative chip samples (several rock pieces off each boulder) were collected and forwarded for assaying. This bonanza grade gold assay typical of the low sulphidation epithermal mineralizing system present on the Heritage Project confirms the project contains bonanza grades of gold not yet detected in bedrock.
The angular shape of the boulders signify a nearby bedrock source, as opposed to being rounded as a result of glacial transport. The boulder train is in an area of thick overburden cover which blankets the underlying bedrock and therefore is a “blind” exploration target which will require detailed surface geophysical surveys (Magnetic & Induced Polarization electrical surveys) to determine if the underlying bedrock is mineralized and the source of the boulders.
An alternate source for the mineralized boulders may be the nearby Eagle Zone, 150 m to the east. Drilling at the Eagle Zone to date has outlined a non-compliant 43-101 resource of 1,082,594 tonnes grading 2.19 g/t AuEq for a Preliminary Mineral Inventory of 76,086 ounces (AuEq = equivalent gold which is gold + silver expressed as gold). Sections of the Eagle Zone remain to be drill tested and could be the source of the bonanza grade gold which is substantially higher than the best gold grade of 46.5 g/t Au intersected in drill core to date.
The 2019 work program approved by the Department of Natural Resources covers all the work requirements for this year including geophysical surveys, trenching and diamond drilling. These latest assay results will greatly assist in directing the planned work program.
The technical information in this release was compiled by President & COO Victor A. French, P. Geo who is a qualified person under NI 43-101 guidelines.