MGX Minerals Inc (CSE:XMG) (OTCMKTS: MGXMF) reported on Wednesday that drilling indicated high-grade gold mineralization at the Fran gold property in British Columbia.
The Vancouver-based company said in a press release that one hole had a high-grade intercept from 136 to 142.35 meters indicating 6.55 grams of gold per ton and 0.1% copper over 4.1 meters. That included 38.7 grams of gold per ton and 0.6% copper from 140.35 to 140.90 meters.
A previously reported drill hole returned a broad intercept, from 227 meters to 241 meters of gold mineralization at depth, according to MGX. The Fran property is located 30 kilometers southwest of the Mount Milligan gold-copper mine.
Earlier in December, the company told investors that drilling will restart soon at the Fran gold project.
Shares of MGX climbed C$0.01 to C$0.48 in Wednesday’s Canadian trading.
Contact Dennis Fitzgerald at [email protected]