A 2,000-ft. program of deep drilling is under way on the Butte Highlands gold skarn project in Montana.
Asarco (NYSE) plans to drill six to seven holes to test the depth extension of the Nevin Hill zone.
The company can earn a 51% interest from Orvana Minerals (TSE) in return for certain cash payments, as well as funding the project to the completion of a bankable feasibility study.
Based on the 23 holes drilled to date by various parties, the zone measures 1,000 ft. along strike and 1,400 ft. downdip. All 23 holes encountered mineralized intercepts grading greater than 0.1 oz. gold per ton for a weighted uncut average of 0.41 oz. gold over 21 ft. The true width of the zone has not yet been determined.
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