Westmin/Nexus busy at Yellow Band

Panel sampling in the 9960 cross- cut in the Mineral Creek zone returned a 32.8-ft section grading 0.174 oz gold per ton. A higher grade portion in this section averaged 0.29 oz gold across 9.84 ft. (These results are from the south side of the crosscut).

Assay results from the north side of the crosscut included a 29.5 ft section grading 0.178 oz within which a 16.5 ft interval averaged 0.25 oz. Two drill holes above and below the crosscut returned lower grade values which Nexus President John Stephenson said “indicates the importance of the underground program in establishing the tenor of the Mineral Creek gold zone.”

Stephenson noted that the 9960 crosscut is located about midway along the Mineral Creek zone; significant mineralization has been outlined for about 2,800 ft of strike length in the zone. The Yellow property, which is the subject of a joint venture agreement with Westmin, covers some 1,800 ft of that strike length plus an additional 3,100 ft of the Mineral Creek fault which hosts the zone.

“It’s a good start. It’s accomplished to some extent what we are planning to do and we are pleasantly surprised by the numbers,” he said.

Nexus, which has assumed full operatorship of its 75.5%-owned Yellow property, intends to conclude a full operating joint venture agreement with Westmin before proceeding with any additional work. Total expenditures on the Yellow property in 1988/89 were $1.29 million of which Westmin paid $928,000. Apparently Westmin plans to maintain its 24.5% interest.

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