Mountain Lake Resources (CVE:MOA) reported Wednesday that it has appointed Peter Woodward to its board of directors.
Woodward, who holds a bachelor of commerce from Memorial University
of Newfoundland, is the vice president of Woodward Group Companies and
also president of Labrador Motors.
He has also previously served as chair of Labrador Health Corp.,
chair of Labrador College and was chair of the Premier’s Advisory
The Woodward Group of Companies is a diversified family-owned
business based in Happy Valley-Goose Bay, Labrador. Its interests are
primarily in rural Newfoundland and Labrador with ventures in the
The Woodward Group has significant interests in oil distribution,
automotive, marine ferries, coastal supply tankers, military
contracting, and real estate.
Earlier this month, Mountain Lake announced multiple intervals of
high-grade gold in its latest batch of drill results from its Leprechaun
deposit, part of the joint venture Valentine Lake property in
Valentine Lake, including the Leprechaun deposit, is a 50/50 joint
venture between Mountain Lake and Marathon Gold (TSE:MOZ), which is the
operator of the project.
Highlights from the latest 2012 analytical results include 7.23 grams
per tonnes (g/t) gold over 20.9 metres including 48.99 g/t gold over
1.9 metres in hole VL-12-403 and 9.19 g/t gold over 13.5 metres. This
includes 34.92 g/t gold over 1.8 metres in hole VL-12-407.
On April 17, the company also reported the completion of an initial
NI 43-101 resource estimate for the Lunch Pond area of its Glover Island
gold property in Newfoundland.
Compared to historical resources, the company said the NI 43-101
resource for Lunch Pond indicates a 27.8 percent decrease in grade,
offset by a 57.4 percent increase in tonnage, resulting in a 14.1
percent increase in contained gold ounces.
At a cut-off grade of 0.5 grams per tonne (g/t), Lunch Pond has an
estimated 66,400 ounces indicated gold grading 1.61 g/t, contained in
1.28 million tonnes. In the inferred category, the target has 196,900
ounces of gold grading 1.38 g/t, contained in 4.43 million tonnes.
Mountain Lake is a junior exploration company engaged in the
exploration and development of mineral properties located in