Exploration activity is heating up in the Iskut River district of northwestern British Columbia, particularly now that road access seems a certainty in 1991. Iskut pioneer Gulf International Minerals (VSE) is already gearing up for a $2.5-million work program on its 100% owned Inel claims some seven miles from the Snip deposit being brought into production by Cominco.
This year’s work program will be funded by Avondale Resources (VSE), a Prime group company that was recently granted the right to earn a 50% interest by spending $10 million over four years. Avondale is also required to make payments of $150,000 in cash, and issue 500,000 of its shares to Gulf.
Most of the work carried out on the Inel property to date has been focused on the AK and Ridge zones, although other zones have also been identified on the property. The intervening ground between the AK and Ridge zones (about 1,200 ft.) has yet to be drill tested and it is speculated they may form a single zone.
Avondale intends to concentrate its efforts on the AK zone where gold and base metal mineralization is reported to occur over true widths of 6-18 ft. at the footwall contact of a syenite intrusive.
So far the zone has been traced for 125 ft. on surface where it is exposed between two icefields. It is, however, open downdip and along strike in either direction.
Previous drilling in the AK zone returned a number of impressive results including 24 ft. of 0.63 oz. gold per ton, 13.1 ft. of 1.51 oz., and 20.0 ft. of 0.42 oz. In addition, bulk sampling over a width of 25 ft. and along the 125-ft. strike length returned 0.88 oz. gold.
The 1990 program will consist of at least 1,700 ft. of drifting and 10,000 ft. of underground drilling, as well as surface exploration. During the earn-in phase, Avondale will be operator.
In a separate project, Avondale is continuing both surface exploration and drilling on its Forrest Kerr project some 65 miles northwest of Stewart, B.C. Exploration in 1989 is reported to have led to the discovery of at least 19 showings of gold, copper-gold, and gold-arsenic- copper-silver mineralization.
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