Pele Mountain Resources and Coventry Resources announced exploration results for the Ardeen Project, in Northern Ontario, Canada. Since commencing its diamond drill program in late-August, 42 holes totalling 4,705m have been completed. results have been received for nine of the first ten holes, with significant near-surface gold mineralization encountered in eight of them. Best results include: 3.0m of 10.7 g/t gold and 39.3 g/t silver, including 0.5m of 56.0 g/t gold and 221.0 g/t silver from Hole 09CADD010, in Hole 09CADD08 found 4.1m of 6.5 g/t gold and 10.2 g/t silver including 0.5m of 35.4 g/t gold and 27.8 g/t silver and in Hole 09CADD004 returned 1.6m of 8.1 g/t gold and 14.9 g/t silver.
Coventry Resources reported the results from the Ardeen Project, since commencing inaugural drilling programme in late August 2009, with 42 diamond drill holes totaling 4,705m. To date final analytical results have been returned from the first ten holes completed (at the Fisher and Dome Prospects). Significant gold mineralisation has been intersected in nine of the ten holes. Better results include: from hole 09CADD010 intersected 3.0m at 10.7 g/t gold from 48.0m including 0.5m at 56.0 g/t gold from 50.5m, 4.1m at 6.5 g/t gold from 13.2m was found in hole 09CADD0008, including 0.5m at 35.4 g/t gold from 14.1m and in hole 09CADD004 returned 1.6m at 8.1 g/t gold from 14.8m
Pele Mountain Resources announced the signing of a definitive option agreement for its Ardeen Gold project located in Ontario, Canada with Coventry Resources Limited, one of several natural resource companies controlled by Australian company MQB Ventures Pty Ltd.
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