Though still subject to a 3-month due diligence review, Vancouver-based
Recent sampling and mapping on the newly acquired ground have shown potential for a 10-to-15-metre-wide-zone, with grades exceeding 10 grams gold per tonne and an exposed strike dimension of more than 1 km.
The main feature of interest is a north-striking, gently east-dipping structural zone. It consists of deformed quartz veins and phyllite, both of which were found to be gold-bearing. The zone was mapped for more than 1 km and is believed to extend under Quaternary cover to the north and into steep terrain to the south.
The zone was tested by three sample panels spaced along 800 metres of the structure. The first returned 8.2 metres grading 13.03 grams gold and 4.7 metres of 27.24 grams; the second panel (330 metres south) returned 12.6 metres of 10.57 grams; while the third (785 metres south) returned 4.1 metres of 53.77 grams gold and 8 metres of 12.62 grams gold.
Results from more detailed sampling are pending. Meanwhile, geological mapping and first-pass sampling of other structures are under way. The main target will be subjected to more detailed channel-sampling.
Brett can earn its 85% interest by escalating payments totalling US$3.5 million over four years and by issuing 180,000 shares. Another 10% can be earned by making a one-time payment of US$2.3 million.
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