Carlisle Reports Increased Measured and Indicated Resources at MacLellan Mine, But Shares Drop 5% to Day Lows

By MT Newswires,  March 13, 2012, 01:18:20 PM EDT

Carlisle Goldfields Limited (CGJ.TO) went down by 5% despite announcing the updated mineral resource estimate calculated for its 100% owned MacLellan Mine Project near Lynn Lake in northern Manitoba.

Highlights:

- Measured and Indicated In Pit Resources have increased by 438% to 1.7 million ounces AuEq at an average grade of 1.76 g/t AuEq contained in 30 million tonnes at grades of 1.68 g/t Gold and 4.4 g/t Silver.

- Measured and Indicated Combined In Pit and Underground Resources have increased by 207% to 2.02 million ounces AuEq at an average grade of 1.94 g/t AuEq contained in 32.4 million tonnes at grades of 1.86 g/t Au and 4.4 g/t Ag.

CGJ is now trading at day low $0.265 with more than 482,000 shares changing hands.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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