Central Crude plans two more holes

The fifth hole of a 5-hole drilling program at the Moss Lake project in northwestern Ontario cut a 62.3-ft. section grading 0.054 oz. gold per ton, Central Crude (TSE) reports.

The program was designed to test the downdip extension of a discrete structurally controlled zone within the Q.E.S. zone, Crude says. Results from the first four holes were released in November (T.N.M., Nov. 30/92). Two more holes will be drilled to test the structure downdip and along strike to the northeast. Funding for this work will become available through the issuance of 333,334 flow-through shares at 45 cents per share to Hemlo Gold Mines (TSE). The private issue will increase Hemlo Gold’s interest in Crude to 48.9%.

Crude is earning a 60% interest in Moss Lake from Tandem Resources (ME) and Storimin Exploration (ASE).