Vancouver-based juniors White Knight Resources (WKR-V) and Chapleau Resources (CHI-V) have intersected significant gold values at their 6,200-acre Indian Ranch property in Nevada’s Eureka Cty.
Hole 97-3, which was offset 135 ft. west of hole 96-10, intersected 435 ft. (from 235 to 670 ft.) grading 0.017 oz. gold per ton (0.583 grams per tonne). At 670 ft., drilling was halted within mineralization, owing to mechanical failure.
Within the 435-ft. interval was a 25-ft. interval (from 250 to 275 ft.) grading 0.03 oz. gold per ton, as well as 10 ft. (from 365 to 375 ft.) of 0.041 oz. gold, and 25 ft. (from 545 to 570 ft.) of 0.044 oz. gold.
In hole 97-4, drilled some 1,200 ft. northeast of hole 97-3, the partners collared 20 ft. (from 270 to 290 ft.) grading 0.0768 oz. gold.
Drilling of hole 97-6 is continuing, and hole 97-3 will be deepened.
Gold at Indian Ranch is associated with weak to moderate silicification, minor disseminated pyrite, and orpiment within fractured sedimentary rock.
Chapleau is earning a 50% interest in the property from White Knight by spending US$1.5 million on exploration and making a US$500,000 cash payment to White Knight over four years.
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