Fairfield continues drilling on Siwash North prospect

Encouraged by recently returned high-grade gold and silver values, Fairfield Minerals (TSE) plans to continue drilling the Siwash North gold deposit on its 100% owned Elk property into October.

The gold project is located near Princeton in southern British Columbia, where Fairfield owns about 200 square miles of mineral claims. The property is accessible by road, and is near all necessary infrastructure. The company received assays for 23 of 33 holes (18,800 ft.) completed on the Siwash North project as of early September. Fairfield President John Stollery reports that all holes intersected “extremely strong and consistent structures”, with 25% returning “excellent” gold assays. All results have been diluted to a 6.6 ft. true width.

The best results were from hole 97, which returned 26.73 oz. gold and 20.03 oz. silver per ton over a sample length of 1.64 ft. This converts to 5.37 oz. gold and 4.06 oz. silver when adjusted for true width and diluted to a 6.6-ft. mining width.

The five other holes returned 6.6-ft. intersections with gold values of 0.82 oz., 0.39 oz., 0.049 oz., 0.21 oz. and 0.74 oz.

Fairfield said 38,300 ft. of drilling in 103 holes at 160-ft. spacings has been completed on the Siwash North gold deposit since 1989. The system has been traced along a strike length of 3,000 ft. and to a depth of 1,000 ft. down dip. Five high-grade gold shoots have been identified to date, with the system still open to expansion along strike and down dip.

Fairfield said an updated mineral resource for Siwash North will be calculated at the end of the current program. Preliminary reserves at the end of 1990 were calculated to be 234,000 tons grading 0.63 oz. gold and 0.64 oz. silver using a cutoff grade of 0.3 oz. gold over a 6.6-ft. mining width. Fairfield also holds the nearby Dill claims where Placer Dome (TSE) recently completed 11 widely spaced drill holes. The major has the right to earn up to a 70% interest in this property.

Placer’s recent program tested a 3,000 ft. by 1,500 ft. area containing coincident copper-gold geochemical anomalies and IP chargeability highs. Five of the holes returned intercepts of copper mineralization in volcanic and intrusive host rock. Gold values averaged about 0.002 oz. gold. Results from the five holes:

Hole Interval thickness copper %

91-2 106-720 614 ft. 0.24

91-3 411-632 221 ft. 0.15

91-5 255-413 158 ft. 0.28

91-8 30-622 592 ft. 0.13

91-10 30-483 453 ft. 0.19