Spud Valley results favourable: McAdam

Diamond drilling by McAdam Resources on its Spud Valley gold propert y on Vancouver Island is continuing to yield favorable results, reports President John H. McAdam.

Systematic drilling of the Linton vein is aimed at adding to the gold reserves already known on the property. Preliminary reserves on the property total about 429,000 tons grading 0.25 oz gold per ton.

Economic grade intersections have been encountered on the Linton over a strike length of 1,800 ft and the vein is open along strike as well as down dip, says Mr McAdam.

Results on the Linton see hole G-8 return 0.122 oz gold per ton over 4 ft; G-11 with 0.131 oz over 3 ft. G-12 returned 0.203 oz over 3 ft while G-13 returned 0.55 oz over 4 ft.

On the AT Vein, Hole G-9 returned 0.208 oz over 4.45 ft. G-10 returned 0.166 oz over 3.3 ft. G-11 returned 0.058 oz over 1.3 ft and G-12 returned 0.016 oz over 1.4 ft.

Both the G-8 and the G-9 results have been previously released, with results revised.

Drilling is continuing with holes G-14 and G-15 completed but awaiting assay results.

The company is also mobilizing a diamond drill to its Bryce Twp. property, located in the Kirkland Lake-Larder Lake mining division of Ontario. It will be a modest drill program, the company says, with drill holes planned to test geophysical targets and a gold showing.

The company has also recently acquired McWatters gold property near Rouyn, Que., where a diamond drilling program is under way. The program is designed to upgrade the gold reserve status of about 431,575 tons grading 0.193 oz per ton.


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