A diversified mining company, based in Toronto, is getting attention looking backward and forward at the same time.
Central Timmins Exploration Corp. (TSX-Venture:CTEC) updated its winter program with a look ahead to its summer exploration program.
The company, which, as its name suggests, is particularly active in northeastern Ontario, has completed eight drill holes since its last results release: One on the Deloro Project and seven on the Mountjoy Project for a total of 3,510 metres of drilling
Three of the Drill holes in southeast Godfrey Township in the Mountjoy Project area have each intersected 50 m to 100 m of porphyry with frequent highly-contorted quartz veining with occasional tourmaline and local fine-grained pyrite.
CTEC points to the best assay result is being 2.46 g/t Au over 0.70 m hosted in porphyry in DDH G1-19-02. This hole also had 11 other gold intersections that assayed 100 ppb to 300 ppb Au in altered and quartz-veined porphyry.
According to CEO Charles Gryba, “What is encouraging is that CTEC's winter drilling has confirmed that the Caron Porphyry contains gold mineralization and may be part of a series of previously unknown porphyries starting at the Godfrey-Mountjoy Township boundary.”
Shares in CTEC gained 1.5 cents, or 37.5% as the clock approached noon Monday, to 5.5 cents, as volume had just reached 40,000