Suntac Minerals Corp. (VSE) is earning a 60% interest in the former producer from Rembrandt Gold Mines (ASE). Work this season is designed to continue testing areas outside the fully diluted reserve of 244,000 tons grading 0.33 oz gold per ton.
According to Suntac President Craig Angus, four recent holes in the 1989 program confirmed the presence and continuation of the gold-bearing system to depth.
The underground holes were the first drilled below the 600 level of the mine workings, with their piercing points being between the 650 and 1,000-ft equivalents in the mine system.
Selected results include: 9.1 ft of 0.362 oz gold; 4.1 ft of 0.324 oz; 5.3 ft of 1.045 oz; 2.3 ft of 1.718 oz; 9.4 ft of 0.434 oz; 4.5 ft of 0.502 oz; 6.5 ft of 0.225 oz; 3.6 ft of 0.304 oz and 28.1 ft of 0.685 oz, which includes 13.4 ft of 1.340 oz gold per ton.
Angus said these results “significantly enhanced” the reserve potential of the mine. An updated reserve calculation is being completed and a comprehensive program of reserve development is being planned.
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