MANITOBA – A week ago CMJ readers learned that Toronto-based Carlisle Goldfields was pushing its Farley Lake gold deposit east of Lynn Lake toward the one-million-oz threshold. Now comes news that Farley Lake and the four other deposits with resource estimates may contain more than 5 million oz of gold.
Taken together the deposits contain 15.01 million measured tonnes at 2.08 g/t Au, 25.46 million indicated tonnes at 2.11 g/t Au, and 51.77 million inferred tonnes at 1.37 g/t Au. The measured an indicated portion contains 2.75 million oz of gold and the inferred portion 2.28 million oz.
Moreover, Carlisle has identified a new area of interest west of the Linkwood project, the Dunvegan zone. And there remain many excellent exploration targets around the initial high grade Farley Lake discovery.
Resource estimates for the Lynn Lake gold camp
Project | Category | Tonnes (000s) | Grade (g/t) | Contained oz (000s) |
MacLellan | Measured | 15,010 | 2.08 | 2,018 |
| Indicated | 17,374 | 1.82 | (incl above) |
| Inferred | 1,898 | 2.01 | 127 |
Burnt Timber | Indicated | 1,021 | 1.40 | 46 |
| Inferred | 23,438 | 1.04 | 781 |
Linkwood | Indicated | 984 | 1.16 | 37 |
| Inferred | 21,004 | 1.16 | 783 |
Last Hope | Indicated | 201 | 5.75 | 37 |
| Inferred | 1,067 | 5.29 | 182 |
Farley Lake | Indicated | 5,914 | 3.21 | 610 |
| Inferred | 4,364 | 2.87 | 403 |
COMBINED PROJECTS | Measured | 15,010 | 2.08 | 2.748 |
| Indicated | 25,458 | 2.11 | (incl above) |
| Inferred | 51,771 | 1.37 | 2.276 |
Carlisle is focused on producing a preliminary economic assessment for its Lynn Lake gold camp. The PEA will include the MacLellan mine, Burnt Timber, Linkwood and Farley Lake deposits. A central milling facility is proposed to treat ore from all deposits. The study will stage the four projects going into production over an eight to10 year period, most likely starting with the MacLellan mine. This proposed timing sequence will up front capital, allowing some capital costs to be covered by internal cash flow.
Visit CarlisleGold.com for additional information.
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