Additional drill results from Bitech Energy Resources (ASE) continue to confirm the significance of the company’s gold discovery at its Nugget Pond property near Betts Cove, Nfld.
Discovered earlier this year, the zone has been tested for 500 ft along strike. Of the six most recent holes completed, four yielded economic gold values.
These include holes 9 and 10 which cut 6.6 ft grading 0.2 oz gold and 4.9 ft grading 0.178 oz gold per ton respectively. Hole 11 intersected 3.3 ft assaying 0.11 oz gold whereas hole 12 cut 12.1 ft grading 0.4 oz gold per ton. Holes 7 and 8 intersected the mineralized horizon, but only assayed anomalous gold values.
Drilling has tested the horizon immediately underneath the discovery trenches and is stepping out to the southwest. Trenched values included 29.5 ft grading 0.47 oz gold per ton. The first holes under the trenches returned encouraged results of 8.5 ft grading 1.66 oz gold and 6.6 ft grading 0.71 oz gold per ton (N.M., Nov 7/88). Gold mineralization is hosted in a siliceous sedimentary unit and is associated with disseminated pyrite, Bitech says. The unit, which has been defined by geophysics and soil geochemistry, strikes for at least 2,000 ft.
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