Iskut J.V. drilling north of Snip

The initial phase of drilling on the Iskut Joint Venture Project has been completed. The project is an equal joint venture between Prime Resources Group (VSE), American Ore (VSE) and Golden Band Resources (VSE). The property is immediately north of Cominco-Prime’s Snip deposit, 66 miles northwest of Stewart, B.C.

A total of 10 holes have been drilled to date. The first four holes of this year’s program were designed to test the strike and dip extensions of the RPX zone discovered in 1989 by hole I89-10 which intersected 10.6 ft. grading 0.43 oz. gold per ton.

Of the four holes drilled west of hole I89-10, hole I90-5 intersected 7.2 ft. grading 0.26 oz., hole I90-6 intersected 3.0 ft. grading 0.20 oz., hole I90-7 intersected 4.6 ft. grading 0.16 oz. and hole I90-1, which was drilled beneath I89-10, returned no significant assays.

Hole I90-4, testing the Gorge zone about 1,000 ft. east of the RPX zone, intersected 0.046 oz. over 7.5 ft. at 267 ft. and 0.14 oz. over 4.9 ft. at a depth of 384 ft.

Two holes drilled between the RPX and the Gorge zones returned no significant assays.

The remaining three holes were drilled on the Gregor zone to test 1989 surface sampling which returned an average of 0.13 oz. over 23 ft.

Hole I90-2 and I90-3 were drilled down-slope from the mineralization and returned no significant results. Hole I90-10, collared up-slope from the showing, intersected 4.5 ft. grading 0.62 oz. at a depth of about 30 ft.

The joint venture plans to continue drill-testing the RPX zone to the west, and to do further drilling on the Gregor zone as well as general prospecting on the rest of the property.