Gammon Lake is focused on the development of the Ocampo District Au-Ag Project in Chihuahua State. They have identified resources of around 2.5 Moz Au-equiv or 27.5 million tonnes grading 2.76 grams Au-equiv. Teamed up with Bolnisi Gold NL in March 2002 to fast-track project into production by 2003 as a 1.25 million tpy mine (100,000 ounces).

Gammon Lake Resources Inc.   GAM   (TSE)

Originally traded on CDN under "GAML" sought listing on TSE starting 21Feb00. 

Latest Press Releases NOTE: Gammon Lake releases information so regularly it is hard to keep up on this website. Best to check out their press release archive directly to get the latest information. This Ocampo Project is moving forward fast.

Brenda Au-Ag Mine, Chihuahua. Located in the Ocampo District, this 486 Ha property was initially optioned at a 60% interest level from Minera Fuerte Mayo S.A. de C.V. in consideration for C$0.2M exploration spending, C$2.33M and 2.5M shares. Seven Au-Ag veins identified on surface at property. Sampling and drilling planned for 1999. Reviewed bids in mid-Feb. for 3000m program. Brenda Mine has prior workings down to the 60m level which has identified the Jesus Maria, Veta Tierra, Balvanera, San Amado and La Zorra structures at depth. Contractor presently shaft-sinking to obtain bulk-samples of ore-grade. 

A 70m wide surface alteration zone between the Jesus Maria and Veta Tierra structures show the potential for an OP reserve. The continuous chip samples across this zone returned an Au-equivalent grade of 2.93 gpt. (Au 1.42 gpt and Ag 79.45 gpt). The El Penol structure is located at the surface 1 km SE of the Brenda Mine. Has retained Behre Dolbear to write qualifying report on property. A previous report by Behre Dolbear estimated the exploration potential at the Brenda Mine as 5.6 M tonnes at 6-10 gpt Au. Company took a 322.7 tonne bulk sample and it came out with average head grades of 5.9 gpt Au and 143.9 gpt Ag. Recent surface sampling suggests excellent potential in other zones. Diamond drill results from a 5 hole 925m DDH program confirm Au-Ag grades determined in bulk sample. More drilling planned for June-July, 1999. Fourth bulk sample of around 370 tonnes taken averaged 8.6 gpt Au and 405 gpt Ag. The excellent bulk sampling results during the due diligence period resulted in Gammon Lake exercising it's option to form a 60/40 JV with Minera Fuerte S.A. de C.V. Phase II drilling which commenced in July, 1999 gave positive results over significant intercepts in the first 8 holes (BR-99-07 through BR-99-14). Intercepts run from around 1 gpt to 1 opt Au and 0.5 opt to 22 opt Ag. Bulk samples totaling 1547.3 tons to date have produced an Au equivalent grade of 4.8 gpt (using 100 g Ag equaling 1.9 g Au). 

Gammon Lake Resources reports that it has driven a drift located near the intersection of the La Zorra - San Amado structures at its Ocampo gold silver project in Chihuahua State, Mexico. A total of 37channel chip samples were taken from the drift. Values ranged from 0.04 g/t gold and less than 3 g/t silver to 42.5 g/t gold and 2080 g/t silver. An underground drill program will be undertaken to determine the geometry and dimensions of the newly discovered zone.

Press Release 13Apr00
Press Release 10Aug99 with tabulated drill highlights
Press Release 21Jun99 with tabulated sampling results
Press Release 20May99
Press Release 14May99
Press Release 25Mar99
Press Release 16Feb99 with tabulated sampling results
MBD February, 1999

Santa Maria Au-Ag Project, Chihuahua. Located the Sierra Madre Occidental property consists of multiple zones up to 5 m wide of argentite, pyrite and chalcopyrite stockwork cutting porphyritic andesite. Five zones were identified during 1997 fieldwork. These are the Main, Scorpion, Amethyst, Creek and Gauchipine Zones. Diamond drilling planned for 1998 season.

La Cuesta Au-Ag Project, Chihuahua. Located 15 km NE of the Santa Maria Claim. A 1.5m wide quartz vein lies within gently dipping andesites and is traceable for 500m. High grade values come from the vein itself and a symmetrical 2 to 3 m wide alteration envelope also returns assays of up to 1.6 g/t Au and 160 g/t Ag.

CMH 1998-1999
WWW 24Aug98