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Hinterland Metals stakes claims in Gowganda, Ontario.

Friday, March 24, 2017 13:33
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(Before It's News)

Hinterland Metals Inc (CVE:HMI) revealed it had staked 2,800 hectares in four blocks in the Gowganda area of north-eastern Ontario.

Gowganda lies 85km northwest of the Cobalt silver-cobalt camp and the silver-cobalt mineralization found at Gowganda is identical to that found at Cobalt.

From 1910 to 1989 Gowganda produced 60.1million ounces of silver and 1.4-million pounds of cobalt representing 11% of the total silver and 6% of the total cobalt endowment of the Cobalt-Gowganda camp.

The claim blocks staked do not cover areas of past production, the company pointed out.

Traditionally cobalt was a secondary product of the silver mining.

The staking was targeted to cover mineral occurrences documented in the Ontario Mineral Deposits Inventory database and prospective Nipissing Gabbro sills.

One of the blocks is called Morel  and encompasses the Solid Silver and Bloom Lake occurrences, along with a 5km section of a Nipissing Gabbro sill.

A value of 411 grams per ton (g/t) silver is reported from a single surface grab sample taken at Solid Silver.

Values ranging from 219 to 603 g/t silver, 0.3 to 0.9% cobalt and 11.0 to 14.7% copper are reported from four surface grab samples taken at Bloom Lake.

Shares finished the day 28.57% higher at $0.045.

Story by ProactiveInvestors


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