Continental Caretech earns stake in Dryden property

Having just completed a drilling program, Continental Caretech (CDN) has incurred the necessary expenditure to earn a half interest in the Thunder Lake West gold project near Dryden, Ont.

The 10-hole program was carried out to define and extend the high-grade shoots previously outlined, and to delineate similar styles of mineralization along the stratigraphic horizon.

Five holes were drilled 1,440 to 3,410 ft. west of the No. 1 shoot, and 165 to 490 ft. downdip of previous shallow intersections. All of the holes, with the exception of TL-105, intersected gold mineralization. Some of the better values include 0.47 oz. gold per ton over 3.5 ft. in hole TL-102 and 0.27 oz. gold over 3.3 ft. in TL-103.

In the No. 1 shoot area, a wedge off hole TL-96 encountered a thick interval which assayed 0.04 oz. gold over 38.2 ft. To the west of the shoot, hole TL-108 cut 0.13 oz. gold over 12.5 ft. This intersection is 180 ft. west of the intersection in hole TL-82, and at about the same elevation. Hole TL-110 intersected 0.11 oz. gold over 9.8 ft., 164 ft. west of the intersection in TL-49, again at about the same elevation.

An area of subeconomic mineralization at depth, 820 to 1800 ft. east of the No. 1 shoot, was tested by hole TL-109. No significant values were encountered.

Hole TL-107 tested the No. 2 shoot area, 164 ft. below and 82 ft. west of hole TL-12. The hole contained a thick zone of anomalous gold mineralization, the best section of which assayed 0.05 oz. gold over 10.2 ft. Caretech earned its interest from Teck (TSE) by spending $1 million on exploration. Teck was operator of the project during the earn-in period and will remain so throughout the life of the joint venture.

Additional drilling is planned.

Elsewhere in the Dryden area, on the Temple-Aubrey claims, two holes totalling 945 ft. were recently drilled. The first hole intersected a broad zone of anomalous gold mineralization with values of up to 550 parts per billion.

The second hole encountered no significant values.

Caretech can earn a half interest in the project from Teck by spending $500,000 on exploration over five years.