Better calculation yields higher grade

Resources (VSE) has established a higher grade reserve at its Mount Washington property on Vancouver Island. A new calculation shows 472,000 tons averaging 0.26 oz gold and 1.3 oz silver. A minimum 6-ft thickness was used and the company predicts about one-third of it could be mineable by open pit.

A 15,000-ft drill program is currently under way utilizing two drill rigs and several majors are exploring properties nearby including Noranda and Westmin Resources. Better’s 1988 exploration program is expected to cost about $500,000 but it could be expanded depending on results. Preliminary metallurgical work indicates recoveries could exceed 90%, the company claims.

A possible northern extension to the Lakeview zone is being drilled on 100-ft centres to enlarge open pit reserves; the main area of interest is a large soil geochemistry anomaly which extends continuously 3,500 ft north of the previously drilled area. Three holes have already cut the zone and assay results are expected by month-end.

Better has arranged $600,000 in flow-through funding and the company also has $1 million sitting in a term deposit. Dennis Baxter, a company director, feels that blocking out another 300,000 tons of reserves “will put it over the top.”