Tuesday, 20 March 2012

Mountain Lake CEO resigns, and appoints new COO

Junior explorer Mountain Lake Resources (CVE:MOA) said president and chief executive Gary Woods resigned citing personal reasons.
Mountain Lake noted that Woods would remain with the company, but only in a consulting capacity. The company added on an interim basis, Allen Sheito will assume these roles.
The news, which was announced on Tuesday, also follows the appointment of Paul Smith as new chief operating officer.
Smith has been the exploration manager for the past year and has supervised the Glover Island gold project.
Prior to joining Mountain Lake, he was vice president of field operations, compliance and permitting with Acadian Mining Corp. (TSE:ADA).
Before that, Smith spent 33 years with the Nova Scotia Department of Natural Resources as a senior research gold geologist for the Mineral Resources Section. Smith holds a bachelor of science and a master of science in geology from Acadia University.
Earlier this month, the miner revealed its latest batch of drill results from its Leprechaun gold deposit, part of a joint venture Valentine Lake property in Central Newfoundland.
The company said Main Zone intercepts confirmed the extension of the mineralization in the area, down dip from the current resource boundary.
Amongst the highlights of these intercepts were 8.04 grams per tonne (g/t) gold over 4.25 metres, including 35.71 g/t gold over 0.9 metres and 9.35 g/t gold over 2.6 metres, including 20.33 g/t gold over 0.9 metres in hole VL-12-397.
Mountain Lake Resources, whose current projects aside from Valentine Lake, include a 100 percent stake in the Glover Island gold exploration property, and an option to earn a 100 percent stake in the Little River gold-antimony asset.

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