Plenty of rooms to move looking back on the Lionell Diggings update.
IIG secured a 100% interest in the under explored historic Lionel Diggings Gold prospect in August 2007. The company hired a consultant to map and sample the prospect. Grab samples from quartz veins yielded up to 28.8g/t Au and 39.5g/t Ag. Vein alteration envelope grab samples also contain up to 73.3g/t Au and 12.7g/t Ag. Lionel Diggings was identified as a gold / silver bearing, shallow dipping, sheeted vein system, with a strike length of 700m. IIG recognised the potential for an open pit gold mine on a granted mining lease and secured a drill rig in December 2007 to test the Lionel Diggings prospect. Regional flooding during the wet season delayed access to the site until April 2008.
IIG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held