Carson drill-tests copper-gold in Philippines

Carson Gold (VSE) reports having spent US$740,000 in 1995 drill-testing the Marian copper-gold project in the Philippines.

The project, situated on Central Luzon Island, was subjected to 11 holes totalling 2,716 metres.

Three of the holes tested the Marian breccia pipe, which contains about 16 million tonnes averaging 0.50% copper and 0.62 gram gold per tonne. Hole 95-1, which was drilled to confirm earlier results, returned 72 metres grading 1.1% copper and 0.49 gram gold. Hole 95-4 tested the southern extension, intersecting 96 metres of 0.45% copper and 0.46 gram gold, as well as 21 metres of 0.46% copper and 0.1 gram gold

Several geochemical anomalies were drilled as well, returning 27 metres of 0.75% copper and 0.13 gram gold for hole 95-6 in the MGA area, and 27 metres of 0.65% copper and 0.36 gram gold for 95-11, south of the Marian pipe.

Mapping and sampling, carried out in an area 8 km north of the Marian, identified porphyry-style alteration over an area measuring 500 by 1,500 metres. Preliminary trenching returned 0.73% copper and 2.17 grams gold over 15 metres.

Carson can earn a 60% interest in the Marian deposit from Royam Mining by spending US$1.5 million by July 29 and paying US$1 million at the time the option is exercised. It must also issue 1 million shares to Royam.

The remaining 40% interest is held by the Philippine company Vulcan Industrial Mining.