A program of prospecting, soil sampling and diamond drilling of five holes has been completed by 50/50 partners Springer Resources (VSE) and Noranda (TSE) on their Glenwood project in Newfoundland. The project, operated by Noranda, is about 14 miles west of Gander.
Springer said the 1990 work program has resulted in the discovery of boulder and subcrop mineralization which returned assays as high as 1.8 oz. and 2.1 oz. gold per ton in grab samples.
Trenching in the immediate area of the discovery encountered a series of quartz veins within a northeast-trending shear zone in sediments. Visible gold was noted in two of the veins. The best trench results were 10.4 oz. over 4 ft. and 6.2 oz. over 2.4 ft.
Five holes were completed during November on the showing and its strike extension to the northeast, and the zone was found to be characterized by carbonate and sericite alteration.
Drilling returned a high-grade value of 1.13 oz. over 21.2 ft., including 3.1 oz. over 7.5 ft. in a shallow hole. Another hole yielded 0.57 oz. over 8.5 ft.
More trenching and drilling have been recommended to further test the gold showing this year.
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