Mark V takes second look at Bagdad prospect results

Still without a permit for a mining operation, Vancouver-based Mark V Petroleums and Mines (VSE) has received more encouraging results from the Bagdad gold project in Granite Cty., Mont.

With a 200-ton-per-day operation expected to start June 30, the company is completing 200 ft of raising in one of the property’s high grade ore shoots. Fire assays from the Bagdad raise bring the average grade of the first 40 ft of raise to 5.573 oz gold per ton and 30.89 oz silver. The results are as follows: Sample No. Gold oz/ton Silver oz/ton 1171 11.601 58.11 1172 0.502 3.13 1173 4.186 28.55 1174 8.048 44.53 1175 15.617 76.82 1176 8.258 44.35 1177 12.112 67.77 1178 21.556 103.90

Due to the high grade values received so far, the company has opted to re-assay the samples with a second assayer. According to President Leslie Hart, raise development on the high grade shoot will continue another 160 ft. At the 200-ft level, Mark V will drive another production drift to develop ore at higher elevations, he said.

Hart says the first shipment of high grade ore will be sent this month to a 1,000-ton-per-day mill at nearby Philipsburg. While the company is waiting for the necessary mining permits, 10,000 tons of ore is scheduled to be hauled to Philipsburg for custom milling.