Friday, 12th October 2007 (1559 views)

An updated resource estimate based on the recently-completed Phase I drilling programme at the MacLellan/Nisku mine is expected to increase resources at the site above previous historical reports.

The resource estimate, which is expected to be released within the next month, could increase the total resource base of properties owned by Carlisle Goldfields – including the MacLellan/Nisku mine, as well as deposits at Farley Lake and BT – from the historically-reported 680,000 ounces of gold to between 800,000 ounces and 1.2 millon ounces of gold, the company said.

A Phase II drilling programme, set to begin in November, is currently in the works for the MacLellan/Nisku mine project.

Carlisle Goldfields anticipates that the planned Phase II drilling programme, which is expected to continue into 2008, will achieve a target in the range of 500,000 ounces of gold at the property.

The Canada-based junior development and mining exploration company owns a portfolio of mining claims in the provinces of Ontario, Manitoba and British Columbia.

The MacLellan/Nisku property, located in northern Manitoba's Lynn Lake Greenstone Belt, is the company's current focus project.

 

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