The study follows completion of the 1988 drill program on a number of properties held by Golden North Resource Corp. (TSE) near Corona’s producing Nickel Plate mine. Corona, which owns about 23% of Golden North and is operator of its projects, is now developing a program for 1989.
Last November, 11 holes were drilled at the Canty deposit to further delineate the limits of known mineralization. In January and February a further 26 holes were completed. Selected results from the latest drilling include: 143 ft of 0.102 oz gold; 126 ft of 0.180 oz; 65 ft of 0.192 oz; 26 ft of 0.230 oz; 35 ft of 0.230 oz; 38.5 ft of 0.236 oz; 20 ft of 0.587 oz; 23 ft of 0.389 oz and 25 ft of 0.320 oz gold per ton.
Results from recent drilling are likely to add to the previously indicated geological reserves of 656,000 tons grading 0.154 oz gold at the Canty deposit.
During the 1988 season Golden North spent a total of $2,683,000 on the Nickel Plate program, principally for 30,089 ft of drilling in 80 holes.
A further 11 holes, totalling 5,597 ft were completed on claims held by Hedley Pacific Mining Corp. (VSE) which border Corona’s mine. Golden North has earned a 25% interest in the property by spending $200,000 on drilling.
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