Cascadia drilling hits placer gold in B.C.

Visible gold has been noted in seven percussion holes completed on Cascadia Mines & Resources’ Cariboo-Kiethley Creek properties in southwestern British Columbia. Just over a year ago, the company entered into an agreement with Aurora Group of Holberg, B.C., to place the placer properties into production.

Placer lease No 29 hosts a major tertiary channel the true depth of which has yet to be determined. But an effort to establish that depth will be made during the 1988 exploration season.

Based on an operating period of 125 days, a minimum daily throughput of 600 cu yd, and a grade of 0.02 oz per yd, the company estimates raw gold production (including silver) at 1,500 oz for the year.