The first three holes of a $1 million exploration program by International Coast Minerals (VSE) on its Kennedy River properties on Vancouver Island, B.C., have all intersected gold mineralization.
The company reports that hole 88-3 intersected a quartz gold- bearing vein for 8.5 ft with an average of 0.224 oz gold, 3.17 oz silver and 1.72% copper. (The true width of the vein is about 3.9 ft.) An additional 4.2 ft intersection in the volcanic wall rock with gold mineralization adds considerably to the total width, the company says, making it suitable to mine without excessive dilution. Diamond drilling is continuing.
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