Gold Price: US$1,788.93

Lingman Lake Gold Project

Signature’s primary Exploration focus in on the growth of its Lingman Lake Gold discovery currently contained within an approximate 700m EW x 300m NS x 180m depth area starting at surface and open in all directions. Exploration data work in 2021 consisted of new data gathering and historic data cleaning/formatting. Early 2022 data compilation and updated geologic model evaluation work led to a decision to accelerate, by nearly a full year, the development of an initial NI 43-101 resource estimate now targeted for completion in Q2/22. The pending resource will position the Company to commence targeted follow-up diamond drilling in Q2-Q3/22. This upcoming work on the Lingman Lake deposit will focus on further extension and infill drilling to continue advancing the pending resource.

Geology

The property is situated in the Lingman Lake Greenstone belt consisting of a complexly folded assemblage, of mafic metavolcanics, felsic metavolcanics and metasedimentary rocks. The assemblage is in intrusive contact with marginal granitic rocks and internally intruded by various intrusive rocks.

High-grade gold mineralization historically modelled at the Lingman Lake mine occurs in multiple zones which are structurally controlled by sub-parallel shears. Within these zones, the most favorable host rocks are mafic volcanics that have been silicified and carbonatized and occur in proximity to feldspar ± quartz bodies that are up to 91-metres wide.

2021 geologic compilation work and the new 2022 data evaluation work has provided an improved understanding the Lingman Lake Gold geologic model suggesting the gold discovery at Lingman Lake is more widespread than historically contemplated and modelled. Historic gold exploration and mining emphasis throughout Ontario and Lingman Lake was focused on small, high-grade, near-surface deposits. Modern gold exploration and geologic modelling exercises a much broader approach to discover and define more extensive gold mineralization. The pending resource work and subsequent targeted follow-up drilling will continue to advance the geologic model with focus on resource expansion and definition.

Subscribe for Company Updates