The consulting firm of L.J. Manning and Associates recently completed a detailed review of drill-hole data relating to all phases of bulk sampling on Eureka Resources’ (VSE) Frasergold deposit in central British Columbia.
Referring to this report, Eureka is now of the view that mineralization on the property is “at least 0.06 oz. gold per ton, and maybe as high as 0.08 oz. gold per ton.” Determining the grade of the project has been a challenge for Eureka because of the coarse nature of the gold mineralization and “nugget effect.”
At last report, the project hosted preliminary reserves of 3.5 million tons grading 0.05 oz. gold per ton along a 2,600-ft. strike length of the Main zone. This estimate is based on a cutoff of 0.02 oz. gold, and cutting all high values to 0.3 oz. gold.
The company has initiated funding to complete the bulk sampling and continue exploration drilling.
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