Vancouver — The first four holes into the Island Mountain area of the Cow Mountain gold property near Wells, British Columbia have returned narrow high-grade gold sections for sister companies Island Mountain Gold Mines (IGM-V) and International Wayside Gold Mines (IWA-V).
Holes 1 and 2 tested a coincidental gold-in-soil and geophysical anomaly. Drilled from the same site the holes returned high values of 0.11 oz gold per ton over 2.7 ft and 1 ft grading 2.01 oz gold, respectively. Higher up in hole 2 was another higher-grade intercept running 0.57-oz gold over 1 ft.
Moving some 600-ft southeast, holes 3 and 4 tested for quartz veins in the favourable Rainbow unit. Hole 3 returned 0.11 oz gold over 4 ft, while hole 4 cut eight veins ranging in value up to 0.2 oz gold over 6 ft.
The Cow Mountain project forms part of the Cariboo project, which comprises 153 sq. km and is centred on the historic Cariboo Gold Quartz, Island Mountain-Aurum and Mosquito Creek mines, which collectively produced more than 1.2 million oz. from 1933 to 1987.
Early work by Wayside targeted the bulk-tonnage potential of the Sanders, Pinkerton and Rainbow zones of the historic Cariboo Gold Quartz mine, on the flank of Cow Mountain. Wayside tabled an indicated resource estimate for Cow Mountain of 5.9 million tons grading 0.07 oz gold, equivalent to 430,885 contained ounces. An additional 1.5 million tonnes grading 0.06 oz gold, equivalent to 90,936 oz., were classified as inferred.
Wayside has filed a Development Permit Application for a conceptual open pit mine at Cow Mountain with the province’s Environmental Assessment Office.
However, over the past couple of years, the junior has focussed away from Cow Mountain to the nearby Bonanza Ledge gold discovery, where drilling has outlined five zones of mineralization. Geologist Ned Reid identified the high-grade Bonanza Ledge style of pyritic mineralization in the footwall of the BC vein in March 2000.
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