Trans America Industries (VSE) has been advised by its joint venture partner, Sherrgold Inc. (TSE) that preliminary results from a drilling target west of Shortie Lake are encouraging. However, assaying will not be complete for about two weeks. Sherrgold reports that a total of nine holes have been drilled and have intersected gold-bearing zones.
The spring break-up is occurring and drilling will cease at this time. However, it is intended to leave two diamond drills at the Shortie Lake site and commence a summer program in June. The Shortie Lake target is on the Wasekwan Lake joint venture property, which covers a prominent geological feature known as the Johnson Shear. The property is located approximately seven miles southeast of Lynn Lake, Man., and extends for some five miles along the shear.
Trans America has the right to earn a 49% interest in the property by spending $3 million. By the completion of the present program, it will have
Be the first to comment on "Encouraging results at Trans America, Sherrgold venture"