Exploration drilling at Pioneer Metals’ (TSE) Bonito gold/silver project in New Mexico returned 100 ft of 0.18 oz gold in the Blue Front zone. Drilling is continuing and 12 holes totalling 2,800 ft had been completed by June 22 in the Blue Front and Main zones. One hole in the Main zone intersected 140 ft of 0.019 oz gold and 3.3 oz silver.
James R. Tompkins, vice-president mining, confirms that more drilling is planned south of the Blue Front zone along with some in-fill drilling. The Main zone drill program will involve testing into the faulted portions of the Main, Trail, and Deer zones. The company’s 1988 exploration budget has been increased by $3 million to accommodate the extensive program, he emphasizes.
Underground exploration should begin Aug 1. The program will include a decline, crosscuts into the ore zone, the excavation of drill stations, and a bulk sampling program. Drill-indicated oxide reserves now stand at 3.6 million tons grading 0.053 oz gold equivalent.
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