Prism Resources Updates the Status of its 7.5% Royalty on the Detour Lake South Property
July 06, 2020 at 03:22 pm EDT
Prism Resources Inc. announced significant drill results from the drilling program conducted by Kirkland Lake Gold Ltd. ("Kirkland Lake") on the 58 North Zone in which the Company has a 7.5% NPI Royalty Interest (the "Royalty"). The drilling at the 58 North Zone intersected high grades up to 175.0 m west of the current underground Mineral Resource. These included 14.6 gpt over 5.0 m; 11.7 gpt over 13.0 m; 5.9 gpt over 8.0 m; and 8.6 gpt over 3.0 m. These drill holes clearly demonstrate the potential to materially increase the current resource. The Measured and Indicated mineral resource at 58N zone includes 2.9Mt @ 5.8 gpt Au containing 534,000 ozs of gold. According to Kirkland Lake's News Release, these results are very encouraging as 58 North has the potential to be a standalone underground mining operation.