Canada-based Lund Gold Ltd. announced yesterday that the remainder of its 2,000 meter Phase I drilling program on the company’s Aldebaran property, in the state of Amazônia, Brazil, has been completed and the company is awaiting the assay results which are due shortly.
The remainder of the Phase I program (initiated in mid 2004) included the drilling of three diamond drill holes, totaling 500 meters, testing two separate gold in soil anomalous targets, the completion of approximately 1,000 meters of bulldozer trenching and collection of sixty auger soil samples.
Favorable drill results from previous Lund drilling in 2004 included 2.38 g/t gold over 4.0 meters in drill hole ALD04-07, and 4.06 g/t gold over 5.0 meters in drill hole ALD04-08. These two holes were drilled beneath and 100 meters laterally from Lund’s surface trenching results of 2.36 g/t gold over 5.2 meters and 114.2 g/t gold over 1.0 meter.
In addition, Lund announced that an independent geologist will be evaluating and sampling the newly acquired Carneirinho Property during April in preparation for undertaking a 43-101 report.
The Carneirinho Property is located approximately 200 kilometers southwest of the city of Itaituba within the very active Tapajós region, in North-Central Brazil, generally regarded as the premier epithermal gold district in Brazil.
At the Carneirinho Property’s main garimpeiro pit, Antônio de Luca, a total of 600 kilograms of gold were reportedly produced from the 70 meter long, 25 meter wide and 25 meter deep excavation.
Representatives of Lund, during a brief visit to the Carneirinho Property, were able to collect three character grab samples from saprolite at the Deusdeth garimpeiro pit that returned assay values of 2.49 g/t gold, 4.63 g/t gold and 17.85 g/t gold.
One additional sample taken from the only currently active garimpeiro operation located between the Antônio de Luca (historical channel sample result of 12.68 g/t gold over 26.0 meters) and João Pinto (historical channel sample result of 10.83 g/t gold over 7.0 meters) pits returned an assay value of 9.30 g/t gold.
Lund Gold Ltd.
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