Hemlo Explorers Inc. announced that its ongoing inaugural reconnaissance exploration program at its 100% owned Gold Anchor Project has discovered several gold targets suitable for follow up exploration. Initial prospecting discovered subangular boulders (glacial float) with pyrite, arsenopyrite and rare fine specks of visible gold in quartz-rich metasediments. Assays are pending.
The Company has, through staking, more than doubled the size of Gold Anchor to over 1,225 square kilometres. Additionally, historical boulder (grab sampling) and soil sampling on a small portion of the newly staked ground identified an area 1.5 kilometres (km) long by 1.0 km wide with samples ranging from 5 parts per billion (ppb) gold to 8,733 ppb (8.7 g/t) gold. Gold Anchor is along the south part of an emerging Gold District located in central Newfoundland.
It is strategically located immediately southwest of significant high grade gold discoveries in the centre part of the emerging Gold District. The 70 km by 20 km Gold Anchor Project represents a unique opportunity for the discovery of multiple gold systems in a significantly underexplored area of central Newfoundland. Hemlo will continue its efforts in the coming months and attempt to identify the source locations of these new gold target areas and make additional discoveries through continued exploration.
