A subsidiary of Laramide Resources (TSE) is reported to have made a new gold discovery on a property held under option from Inco (TSE) near Merritt, in south-central British Columbia. Laramide said recent trenching on the property exposed a strong gold-bearing shear zone with the best assay averaging 0.71 oz. gold per ton across 6.56 ft. Vanco Explorations, a private company which is owned 60% by Laramide, can earn a 50% interest in the Aspen Grove property from Inco by spending $500,000 before the end of 1992.
The new gold prospect is reported to be two kilometres south of Vanco’s 100% owned Sadim gold prospect where a shear zone, similarly mineralized with gold-bearing quartz veins, returned assays up to 4.4 oz. gold across 3.3 ft. Vanco plans to explore the overburden- covered area between the Sadim and the Inco option prospects.
The two prospects are immediately southwest of the Elk claims where Fairfield Minerals (TSE) and Placer Dome (TSE) are carrying out an exploration program on the high-grade Siwash North vein and on other prospective gold targets. This area is accessible by road from Vancouver.
Laramide also announced that it plans to resume drilling at its 100% owned Lara polymetallic (gold and base metals) deposit on Vancouver Island, B.C.
Be the first to comment on "Third gold find in Merritt, B.C., area"