A drilling program is planned by Adrian Resources (VSE) to further test a recently discovered zone of massive sulphide mineralization on the Sky Creek property held under option from Skyline Gold (TSE).
The 5,500-acre property is located in the Iskut River district of northwestern British Columbia. Adrian may earn a 51% interest from Skyline by spending $1.6 million on exploration over three years.
The agreement also involves Skyline receiving 200,000 Adrian shares in two tranches, along with an option to acquire a further 150,000 shares at varying prices over the term of the exploration agreement.
This year’s drill program will test the SMC gold-silver-lead-zinc-copper zone discovered by Prime Explorations earlier this summer.
Recent geophysical work in this area is reported to have delineated magnetic conductors that are coincident with the surface expression of the SMC zone for a minimum of 5,900 ft.
Trenching has partially exposed the mineralization of this zone for about 1,300 ft. Grab samples from a number of trenches returned values of up to 1.26 oz. gold and 4.71 oz. silver per ton, 5.94% copper, 23.2% zinc and 1.79% lead.
A number of sub-parallel geophysical conductors were also identified in the SMC showing area which will be further evaluated in ongoing exploration programs.
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