Reconnaissance drilling kicked off last November but was put on hold due to weather conditions.
Now a second hole is underway, targeting the center of the large, sharply defined and high-intensity gravity anomaly looking for an iron oxide breccia body with copper and gold.
"We are glad to be back at Ranoke, glad to have the experience of our drill crew from November back on site, and keen to move the drill into what we believe is the heart of Ranoke; the vertical magnetic pipe at the north end of the complex, and the gravity anomaly which cuts into it from the south," said chief executive Dr. Michael Gunning in Wednesday's statement.
"We are keen to test the center of the gravity anomaly for a high density, iron-rich body because we can now see the evidence for high temperature and iron-rich hydrothermal fluids in veins and breccias in drill core from Hole 1 located on the periphery of the gravity feature," he added.
"By optimizing drilling logistics and daily production based on the experience gained in November, our goal is to complete a first-pass test of the key attributes of the large and complex target at Ranoke this winter, and we look forward to providing updates as the program advances."
Ranoke lies 15 km west of a CNR railway spur and is 25 km north of road access to Otter Rapids, an Ontario hydro-electric facility serviced by Highway 634.
The helicopter-assisted drill program is based out of a road-accessible trailer camp at the Ontario Power Generation hydro-electric facility at Otter Rapids.
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