The property is about two kilometres south of Bitech’s Nugget Pond claims where a small high grade gold deposit was outlined by 20,000 m of diamond drilling earlier this year. That program was part of a joint venture with Equity Silver Mines (TSE).
The current work is part of another $350,000 exploration campaign on the adjacent Betts Cove claims, including 1,500 m of drilling in six holes.
Bitech reports it has intersected a new gold zone in the recently completed drilling. The first hole cut a 2-m interval of 8.6 g (0.25 oz) gold and 18 g silver per tonne at a depth of 52 m. Other intervals farther down in the same hole include 1.5 m of 2.07% copper and 0.1 g gold and 2.1 g silver. Hole 3A, some 40 m to the east, intersected 6.8 g gold across five metres. Assays are still awaited for three other recently completed holes.
Bitech says geophysics, geochemistry and mapping on the Betts Cove property have confirmed the southern extension of the Nugget Pond gold horizon for a distance of 1.5 km. An adjoining property to the north hosts the Nugget Pond deposit which contains 513,744 tonnes grading 14.13 g gold. Soil sampling has yielded anomalous values containing up to 150 parts per billion (ppb) gold, the company reports.
The old Betts Cove copper mine horizon has been traced for four kilometres parallel to the Nugget Pond gold horizon, Bitech says. Anomalous geochemical values of up to 2,800 parts per million (ppm) copper, 5,320 ppm zinc, and 2,190 ppb gold are reported from recent soil sampling.
Between 1875 and 1886, the former Betts Cove mine yielded about 118,000 tonnes of high grade (10%) copper ore from small lenticular masses in f our shear zones.
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