Vancouver-based Galactic Resources and partner Cornucopia Resources have released some new drill results from the Ivanhoe joint venture gold property at Carlin, Nev.
Galactic Chairman Robert Friedland says the latest results are from in-fill drilling in the East and West Oxide pits of the huge Hollister deposit which is targeted for open- pit heap leach production this year.
According to Friedland, recent drilling has yielded intercepts with grades higher than expected.
They include: Hole 1V87240 which intersected 100 ft grading 0.319 oz gold per ton at between 200 ft and 300 ft. That hole included 60 ft of 0.508 oz from 240 ft to 300 ft.
Other results include 100 ft of 0.045 oz at the 135 ft to 235 ft level, 140 ft of 0.031 oz from 105 ft to 260 ft and 110 ft of 0.102 in the 195 ft to 305 ft area.
In a bid to speed up exploration at the Hollister deposit, the joint venture has eight rigs working on metallurgical, condemnation, in-fill and exploration drilling.
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