Akiko Gold aims to advance Utah mine project

Underground drilling aimed at expanding geological reserves of the high-grade New Burgin deposit is under way in the East Tintic district of Utah.

Vancouver-listed Akiko Gold Resources is earning a half interest in the 14,500-acre property from Chief Consolidated Mining (NASDAQ) by spending US$10 million. To date, Akiko’s earn-in payments total US$1.14 million. Diluted, minable, proven and probable reserves are calculated at 1.1 million tons grading 19 oz. silver per ton plus 22% lead and 7.6% zinc. The first hole of the program, CB-001, was drilled to a depth of 452 ft. from the 1,050-ft. level of the old Burgin mine workings towards the southeast. It intersected 114 ft. of 18.2 oz. silver, 27.5% lead and 3.8% zinc. The hole also cut two upper intervals, one at 36 ft. grading 6.3 oz. silver, 11.3% lead plus 4.14% zinc, and the other at 21.6 ft. grading 4.2 oz. silver, 11.2% lead and 3.8% zinc.

New Burgin is several hundred feet northwest and downdip of the old Burgin mine and remains open along strike and downdip. Assay results for further holes are pending.