American Consolidated hits mineralization

A mineralized vein continuing through three drill holes has been encountered on American Consolidated Mining’s gold-silver-copper prospect in Clifton Cty., Utah. Channel samples cut across the vein structure for a distance of 70 ft. have returned average values of over 0.073 oz. per ton of gold, 1.1 oz. of silver, and 4% copper. At depth, recent drilling and caterpillar work have revealed even higher values of up to 0.54 oz. gold, 2.72 oz. silver, 9% copper and up to 15% tungsten, as well as several pounds molybdenum. Work completed on the project to date shows proven and probable reserves in excess of 178,461 tons.

Preliminary testing on five American Consolidated drill holes have also shown potentially high zirconium values associated with the gold and silver, and recent geophysical work has outlined five other sulphide zones in the vicinity of the Main vein.

With reserves in the proven category, American will now try to qualify for listing with the NASDAQ.