Saskatchewan-based Cameco (TSE) recently completed a 6-hole drilling program on the Holberg Inlet property near Port Hardy, B.C.
Cameco has the right to earn a 60% interest in the property by spending $775,000 and making $90,000 in property payments over a 4-year period. The property is currently owned 82.5% by Hisway Resources (VSE), 12.5% by Silver Drake Resources (VSE) and 5% by Champion Resources (VSE). The drilling tested three widely separated areas. The best intersection in two areas; the Dorlon and HPH, returned 0.69% zinc over 0.5 metres. A drill hole in the Contact Creek area returned a 4-metre interval of fracture-controlled sulphide veinlets grading 6.4% zinc and 0.4% copper. A second hole, about 600 metres to the west on a separate anomaly, intersected a 2-metre interval in sulphide-bearing skarn sediments grading 2.8% zinc. The drilling report is now being finalized and Cameco is reviewing data from the 1991 field season before proceeding with further work on the project.
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