A $4-million exploration program is being undertaken this year by Vancouver-based Dolphin Explorations at its Cape Ray gold project in southwest Newfoundland which includes the driving of a decline on the 41 zone and upgrading the existing tote road to the site.
Surface drilling at the project to date has been encouraging, the company reports. Two drills are at work on the property, one on the Main zone which consists of the smaller 04, 41 and 51-89 zones, and the other in the Windowglass Hill area. The decline, which is expected to intersect the 41 ore zone in early October, will permit Dolphin to perform an underground exploration program.
Results from hole No PB-87-98 on the 04 zone include 44.5 ft of 0.19 oz gold per ton, the company reports. Assay results from seven other holes are awaited.
On the 41 zone, 15 holes have been drilled, representing 12,017 ft. Results received from 12 of these holes include hole No PB-87-193, 4.5 ft of 0.34 oz; hole No PB-87-187, 9 ft of 0.34 oz, including 6.5 ft of 0.24 oz; and hole No PB-87-190, 7 ft of 0.23 oz.
At Windowglass Hill, the company reports five of the 12 holes drilled to date show visible gold; assay results are awaited.
The mineralized zones are near surface and appear to have a thickness of 25-30 ft.
By Sept 9, Dolphin had completed 220 holes on the property, representing 26,294 ft of surface drilling. Exploration is scheduled to continue until mid-November.
The most recent drilling has extended the ore zone by 400 ft vertical to the 900-ft elevation. Dolphin anticipates a major boost in reserves, which currently stand at 991,600 tons grading approximately 0.19 oz.
President of Dolphin is Henry Ewanchuk. Dolphin’s major shareholder is International Corona Resources.
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