Two drill holes have extended the strike potential in the Main zone at the Grew Creek gold discovery near Faro, Yukon. Noranda Exploration is operator for a joint venture which includes Golden Nevada Resources and Noranda subsidiary, Brenda Mines. Holes 87-40 and 87-42 were stepouts approximately 330 ft northwest of h ole 87-38 which returned 0.26 oz gold over 39.3 ft. In a news release, Golden Nevada Chairman Murray Pezim confirms the two holes “extended the strike potential of the main zone at depth into an area not previously known to host gold mineralization.”
Results from 87-40 included 19.7 ft of 0.16 oz and 9.9 ft of 0.11 oz while 87-42 yielded 14.8 ft grading 0.14 oz gold. In hole No 87-44, encouraging values were reported from two narrower sections including 4.9 ft of 0.96 oz gold and 4.9 ft of 0.14 oz. Significant silver values were also reported in several holes.
The deposit has now been tested for a strike length of 1,800 ft and to a vertical depth of approximately 575 ft. Drilling is continuing with two machines.
Three drill holes penetrated what is thought to be a fault contact; and geophysical data indicates the main zone could be offset to the southwest. Noranda is currently testing this hypothesis with a fence of holes.
Airborne geophysics is under way to identify major structural controls for gold mineralization in the Grew Creek area. Among those holding ground in the survey area are: Baywest Capital Equities, Gigi Reurces, Norman Resources, Hemlo Explorations, Argo Development Corp., Mintel International Development, Wildfire Resources, Halcyon Resources, and Golden Nevada.
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