Golden North Resource Corp. (TSE), owned 42% by Corona Corp (TSE), appears to be spending substantial money in an effort to find new gold deposits in the area of Corona’s Nickel Plate mine near Hedley, B.C.
A 25,000-ft drill program is now under way on Golden North’s 100%-owned Nickel Plate properties, at a cost of about $1.4 million. The program will focus on five areas within the claim block to test numerous coincidental I.P. and geochemical anomalies generated from the recently completed geophysical and geochemical surveys at a cost of about $1 million.
Drilling will initially focus on a high priority area located immediately southwest of the Canty gold- skarn deposit that has drill-indicated open pit reserves of 656,800 tons grading 0.154 oz gold per ton. This area is located 1 km east of the Nickel Plate mine.
An additional priority target will be drill-tested on the California claim located about 1 km east of the Canty deposit.
Drilling will follow up a discovery made in late 1987 where gold values of 0.201 oz over 27 ft were returned, including values of 0.313 oz gold over 17 ft and 2.323 oz gold over 2 ft.
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