An underground development program is planned at Omni Resources’ Skukum Creek gold-silver property this January. The property is adjacent to the AGIP-Erickson Mt. Skukum gold mine which started production in the first half of 1986.
A 1,500-ft drift has been recommended by Omni’s consulting engineer, the purpose of which is to verify grades obtained from surface diamond drilling. The mine working will also be used to drill the ore-bearing horizon along strike and to depth and establish mining characteristics.
Omni says its 1986 surface drill program established drill-indicated reserves of 418,000 tons grading 0.23 oz gold and 9.9 oz silver in two zones. Approximately 239,000 tons of that reserve is located in the Rainbow zone and it averages 0.27 oz gold and 13.2 oz silver. Several other adjacent and possibly adjoining zones identified by high gold and silver values in soil geochem have yet to be explored, the company notes.
Financing for the project will be from a $300,000 flow-through offering at $4 per share which was placed this fall with Knights Mineral Exploration Co. Limited Partnership.
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