A drill program by Consolidated Rhodes Resources (VSE) has started on the Gold Basin project in Mohave Cty., Ariz. The junior, controlled by Murray Pezim, is earning a 50% interest in the property from Toltec Resources (VSE). The drill program is testing the westward extension of the No. 1 shear zone which is characterized by a variably hematitic shear zone transecting highly weathered granitic rocks. The zone is reported to be more than 800 ft. long, up to 100 ft. wide, and open in all directions.
Earlier 1990 drilling toward the western end of the zone by Toltec returned 0.029 oz. gold over 125 ft. and 0.029 oz. gold over 40 ft. Encouraging results were also reported from surface sampling carried out earlier this year.
A program of detailed geochemical sampling is continuing over both the Gold Basin and adjacent Cyclopic properties. Rhodes and Toltec are jointly earning a 100% interest in the latter property on an equal joint venture basis.
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