Drilling on Delaware Joint Venture

A 5-hole diamond drill program operated by Delaware Resources (VSE) is now under way on the 10,500-acre Iskut River joint venture property adjoining the Snip project in northern British Columbia. The gold-silver- base metals project also involves American Ore Ltd. (ASE) and Golden Band Resources (VSE), each holding a 33* 3/8% interest.

Golden Band (VSE), a Noramco Mining company, says it had been approached by Delaware as to the possibility of amalgamating the parties’ interests in the property. However Bruce McDonald of Golden Band says discussions have ceased and “no agreement has been executed.” Golden Band reports that the program will test a magnetic VLF EM anomaly about 1,150 ft in strike length. The company says limited overburden stripping by hand has uncovered highly sheared and pyritic mafic volcanics with samples of the exposed outcrop in the drill target area ranging up to 0.33 oz gold.