Surface drilling at MinVen Gold Corp.’s (TSE) Gilt Edge mine in South Dakota has encountered significant gold mineralization over some unusually long thicknesses. The company is involved in a $9.4 million(US) exploration program to increase mineable ore reserves and complete a feasibility study for a conventional milling operation on the property. .T By mid September, MinVen had completed 51 holes on approximately 200 ft centres and 44 of these had encountered “substantial ore intercepts,” the company reports.
The latest drill holes (21 in total) returned an average grade of 0.052 oz gold over an average thickness of 523.6 ft. The gold-bearing horizon is relatively shallow, averaging about 63.5 ft in depth. The 23 holes reported earlier yielded an average grade of 0.046 oz over 478.7 ft.
“The drilling completed to date is expected to significantly increase the existing proven and probable reserves of 35 million tons with an average grade of 0.044 oz gold per ton,” says James A. Anderson, president. Most of the drilling was in sulphide material, The Northern Miner was told.
Anderson says the results compare favorably with previous work completed on the existing reserve and with the geologic model of the Gilt Edge orebody interpreted by company geologists.
Three drills are on the property at the moment and 70-90 additional holes are planned in the current program.
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