Black Swan ends first drill phase at Tas bet

Under agreements with Noranda Exploration and Goldcap Inc. (ASE), operator Black Swan is earning a 45% working interest by spending $800,000 on the Tas property.

Calgary-based Goldcap holds a 15% working interest and has the right to reacquire Black Swan’s 45% interest by issuing common shares. The 4,000-ft drill program demonstrates that mineralization continues along strike and to depth on four zones tested so far, according to Black Swan.

Highlights from the 18-hole program include 7.5 ft of grade 0.20 oz gold per ton in the East zone and 4.9 ft of grade 0.32 oz in the Mid zone. Those intersections were encountered at a depth of around 300 ft below surface.

A hole for which only partial assays are available yielded 0.189% copper over 16 ft in mineralization associated with a feldspar porphyry.

Exploration results so far suggest that the copper/gold mineralization discovered on the property is adjacent to, or possibly overlying a porphyry intrusive stock, Black Swan said.

During the rest of August and September, Black Swan will attempt to outline drill-indicated reserves on the property by conducting further drilling on the East and 19 zones.

The next phase of exploration will also include a geophysical program designed to test for gold/ copper mineralization associated with porphyritic intrusions on the property.

]]>