Another 33,000 ft of drilling is planned by Minnova Inc. on its Samatosum property in the Kamloops area of B.C. The program is under way and three drills are being utilized. One of the rigs is drilling the main deposit, another is testing for strike extensions, and a third is doing reconnaissance work.
The Samatosum deposit will be drilled off in considerably more detail and several other exploration targets checked as well. The program will also ensure that no ore reserves exist under proposed surface installations.
Rea Gold will fund 30% of the program although it was not obligated to provide any until after feasibility. This decision was made to speed development of the project. Besides the drill program, geochemical and environmental studies are planned plus a bulk sampling program and further metallurgical test work.
Minnova has estimated an undiluted in situ reserve for the property of 661,000 tons grading 32.1 oz silver, 0.052 oz gold, 3.5% zinc, 1.7% lead and 1.2% copper. Rea Gold has a 30% interest in the project and a 5% net smelter return.
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