Denison plans extensive test of Creede, Colorado property

A deep drilling program is planned on Sutton Resources’ (VSE) Creede, Colo., silver prospect following an option agreement with Denison Mines (TSE).

Denison has an option to earn a 55% interest in the project by spending $7,450,000(US) over four years.

Drilling in the East Amethyst and related veins will begin this summer, Sutton President J. Kenyon says. Phase one, an 18,300-ft drill program costing $575,000, will be completed by the end of August. Depending on results, a second phase costing $375,000 will be carried out by year-end. Sutton owns the property in a 50/50 joint venture with Crown Resource of Denver.

The historic Creede district started attracting attention when Homestake Mining Co. intersected high grade silver and gold in drill holes on the northern portion of the Amethyst claims, just north of the Sutton-Crown claims. A multi- million- dollar underground development project has been under way on this discovery since the mid- 1980s.