More trenching and drilling are planned next year on Tri-Valley Corp.’s Richardson lode project southeast of Fairbanks, Alaska. Asarco Inc. recently dropped its option on the property without earning an interest.
The company completed 18 diamond drill holes earlier this year plus soil sampling but no trenching. A review of Asarco’s data by a Tri-Valley consultant concludes the potential there has been enhanced by that work program.
Previous channel sampling across one 46-ft interval returned 0.17 oz gold per ton and repeat sampling yielded 0.45 oz over 35 ft. An Asarco trench returned 7.5 oz over 10 ft along with some visible gold; and one of Asarco’s drill holes yielded 65 ft of 0.35 oz gold with a high grade interval of 15 ft averaging 1.45 oz right at surface.
Placer gold mining has taken place on some of the ridge tops in the area which Tri-Valley says indicates the gold is weathering out of the bedrock immediately beneath the deposits. Production potential exists in a quartz porphyry area of the property which could be amenable to heap leaching, the company adds.
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