Noranda continues drilling on Andaurex’s B.C. property

Drilling is continuing by Noranda Exploration on the the L.H. gold property near Silverton, B.C., held by Andaurex Resoures.

Hole L.H. 86-3 drilled about 300 ft southeast of L.H. 85-2 intersected a wide zone of silicified agglomerate and tuff with two gold zones containing 0.17 oz gold per ton over 8.4 ft and 0.33 oz over 46.2 ft.

Hole L.H. 86-4, targeted to investigate the downward extension of the L.H. workings was lost due to ground conditions.

The L.H. 86-5, at the same site, was drilled to a depth of 933 ft and assays are being awaited. This hole is approximately 1,100 ft northeast of L.H. 86-3.

Drilling is continuing to delineate and extend the zones intersected in hole L.H. 86-3 and significant mineralization occurs in two holes over substantial widths. Samples are being prepared for assay.

Under the terms of the agreement, Noranda may spend $1 million over a 3-year period to earn a 60% interest.

Additional holes have been drilled at Andaurex’s gold property northwest of Geraldton, Ont. These holes were drilled on 25-m sections both east and west of hole No. 2, which had intersected 0.29 oz over 5 ft. Low grade gold values were obtained on step-out holes, including 9 ft of 0.03 oz.

The gold values occur in a zone of highly altered and silicified volcanic sequence with minor sulphides and molybdenite. The company is currently preparing a geological and structure analysis and says it is evident that a major drilling program will be required to explore the gold-bearing structure along strike and at depth.

The company trades on the Vancouver Stock Exchange and at the end of Dec 31, its working capital stood at $1.33 million.