Results from the first seven holes drilled on the Niblack massive sulphide property in southeastern Alaska have expanded, both downdip and along strike to the west, the known area of gold mineralization at the Lookout zone.
Abacus Minerals (AMC-V) reports that the zone was previously estimated to contain 1.8 million tons grading 0.12 oz. gold and 1.37 oz. silver per ton, plus 2.64% zinc and 1.5% copper.
Recent drilling intersected 26.1 ft. averaging 0.049 oz. gold and 0.54 oz.
silver, plus 2.23% zinc and 1.78% copper in hole LO-126 — some 400 ft.
downdip of the most westerly drilled 1996 hole, LO-117, which yielded 115.9 ft. averaging 0.057 oz. gold and 0.55 oz. silver, plus 1.55% zinc and 1.43% copper.
Hole LO-129 intersected 14.8 ft. averaging 0.095 oz. gold and 2.86 oz.
silver, plus 16.38% zinc and 4.52% copper, approximately 350 ft. downdip of 1996 hole LO-108, which cut 16.5 ft. averaging 0.098 oz. gold and 1.56 oz.
silver, plus 3.22% zinc and 4.72% copper.
Meanwhile, at the newly acquired Trio-Broadguage claims, 1,000 ft. to the east, early drilling has encountered gold-copper-zinc mineralization exhibiting grades similar to those encountered at Lookout.
Results from the first set of holes are as follows:
* Hole LO-124 — 12.3 ft. averaging 0.036 oz. gold and 0.58 oz. silver per ton, plus 0.48% zinc and 1.12% copper.
* Hole LO-125 — 22.4 ft. averaging 0.032 oz. gold, 0.27 oz. silver, 5.13% zinc and 2.17% copper, as well as 12.8 ft. averaging 0.049 oz. gold, 0.4 oz.
silver, 4.68% zinc and 3.6% copper.
* Hole LO-127 — 10.5 ft. averaging 0.16 oz. gold, 2.11 oz. silver, 1.22% zinc and 1.47% copper, 23.4 ft. averaging 0.052 oz. gold, 0.77 oz. silver, 2.92% zinc and 1.28% copper, plus 10 ft. averaging 0.084 oz. gold, 1.04 oz.
silver, 4.02% zinc and 1.09% copper.
Abacus plans to carry out a 35,000-ft. drill program at Niblack before year-end.
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