Dragon Mining (ASX: DRA) aggressive exploration program at the Kuusamo gold project in Finland is paying dividends.
The current program by Dragon includes three active rigs with plans to drill up to 100,000 metres of new drilling - targeted at confirming depth and strike extensions.
The latest highlight is the exceptional high grade hit of 25.60 metres at 9.66 grams per tonne (g/t) gold from 59.55 metres.
This intercept occurs within a broad zone of 81.40 metres at 4.01g/t gold from 52.10 metres, and is located in the eastern portion of the Juomasuo gold deposit.
Adding some exploration spice to the mix, the same interval also returned elevated levels of cobalt (1,047 ppm), copper (300 ppm), uranium (697 ppm) and total rare earth oxides (465 ppm) either in conjunction with, or separately from gold mineralisation.
Dragon said that the strength of this zone highlights the potential of the eastern area, which historically had been subjected to only limited shallow drilling.
What is interesting about the hole is that it’s a shallow angled scissor hole, which intersected the host geological sequence partially down dip.
Additional drilling will determine the true width of the identified mineralised zone(s).
Dragon has previously outlined the potential for Kuusamo to develop into a million ounce gold camp.
Additional results received
Dragon has also reported additional results from a further four holes that include 4.10 metres at 11.69 g/t gold.
Multi-element analysis has also highlighted strong intervals of cobalt mineralisation, including 21.00 metres at 0.534% cobalt from 282.95 metres.
These holes form part of a 14 hole campaign drilled to test the strike and depth extensions of identified lodes in the northern portion of the Juomasuo gold deposit.
Assays from another nine holes are pending.
Juomasuo bonanza historic hits
In outlining the potential of the Juomasuo gold deposit, it is also worth reviewing some historic bonanza grade strikes.
- 19.20 metres at 179.52g/t gold;
- 3.70 metres at 426.98g/t gold;
- 19.60 metres at 63.70g/t gold;
- 4.12 metres at 265.50g/t gold; and
- 8.00 metres at 48.85g/t gold.