Drilling expands Taurus project

With 67 holes completed to date on adjoining ground held separately by International Taurus Resources (VSE) and Cusac Gold Mines (VSE), project operator Cyprus Canada is expected to halt drilling temporarily on its gold exploration project near Cassiar, B.C.

Cyprus District Manager Steven Parry says drilling has tested a bulk-tonnage target on a regional scale at 200-metre spacings. The company will now sit back, digest the drill information and take a hard look at the higher-grade areas in order to plan a more detailed, closely spaced program. Cyprus Canada, a subsidiary of Cyprus Amax Minerals (NYSE), can initially earn a half interest in each of the properties by incurring exploration expenditures of $4 million on Taurus’ block and $2 million on Cusac’s claims over three years. A further 20% can be earned by carrying the properties to production.

While Cyprus has made no comment on the possible size of the deposit, Taurus and Cusac report an estimated geological resource of 130 million tons grading 0.029 oz. gold per ton.

Selected assay results from recent drilling are as follows:

HoleLocation Property Interval(ft)Width(ft)Grade(oz/t)

395+00E,6+00NTaurus 52.5-157.4104.9 0.017

4010+00W,6+00NTaurus 26.2-190.2164.0 0.013

414+00W,1+00NTaurus 52.5-432.8380.3 0.021

incl. 78.7-223.0144.3 0.034

429+90W,8+00NTaurus 72.1-347.5275.4 0.006

434+00W,2+00NTaurus144.3-321.3177.0 0.041

4411+00W,9+00NTaurus 20.0-301.6281.6 0.026

incl. 603.3-813.1209.8 0.019

454+00W,3+50NTaurus 26.2-282.0255.8 0.014

466+00W,2+00NTaurus 10.2-373.8363.6 0.029

incl. 10.2-190.2180.0 0.046

4712+00W,3+05NCusac183.6-472.1288.5 0.018

486+00W,3+00NTaurus 26.2-452.5426.3 0.027

495+91W,3+70NTaurus190.2-360.7170.5 0.007

5012+95W,3+08NCusac 51.1-236.1185.0 0.030