Dakota bullish on Stibnite’s potential

Drilling has intersected gold mineralization at the Stibnite mine near Yellow Pine, Idaho.

Dakota Mining (TSE) reports that 8,000 ft. of reverse-circulation drilling cut mineralization over a strike length of 1,500 ft., in the Lower Ridgetop area.

Highlights from the first 24 holes are listed below.

The company is also conducting surface sampling over a previously unexplored area southeast of the Garnet pit. The effort has identified several drill targets, which will be tested in 1996.

Since gold production resumed this September, the mine has cranked out 9,000 oz.

Gold production for Dakota during the third quarter amounted to 10,483 oz., primarily from the Golden Reward mine in South Dakota.

Year-to-date production for the company is 19,820 oz., slightly lower than the same period last year.

For the third quarter, Dakota reported a loss of US$1.15 million (or 4 cents per share), compared with a loss of US$350,000 (2 cents per share) during the same period a year ago.

HoleIntervalThicknessGold

(ft.)(ft.)(oz./t)

5970-95250.019

110-125150.031

6465-95300.042

335-350150.041

6515-65500.065

185-205200.020

235-265300.040

335-390550.036

6615-35200.183

55-60 50.042

80-85 50.094

280-325450.054

6720-40200.050

85-95100.068

6815-30150.067

50-65150.114