Drilling at Lord River Gold Mines’ (VSE) Trout Creek option 15 miles southeast of Carlin, Nev., has generated some encouraging results. In the Southern Jasperoid zone, gold mineralization has been outlined over a surface area 800 ft long by over 150 ft wide grading 0.03 to 0.05 oz gold.
“Within this mineralized area is a higher grade core measuring 350 ft in length by 100 ft in width grading 0.06 to 0.07 oz gold per ton,” says Robert Quartermain, president.
The Central Jasperoid zone about 1,000 ft to the north is open to the north and has an average thickness of 75 ft and a grade of 0.05 oz gold where intersected across a 700 ft width.
“Drill results indicate this zone is improving in grade and thickness to the north which could add significantly to property reserves,” he said.
A preliminary geological reserve is being calculated for the Southern and Central zones and the company’s objective is to outline 100,000 oz of near-surface recoverable gold reserves. The zones are oxidized suggesting some heap leach potential. Drilling is expected to resume in early December.
Lord River can earn a 55% interest in the property by producing a bankable feasibility study. A private company out of Reno holds the balance on which Lord River has the right of first refusal.
The property is about 10 miles south of Newmont Gold’s Rain mine and 3-4 miles south of the Railroad deposit which hosts approximately 1.5 million tons of reserves averaging 0.08 oz gold. .N16
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