Fischer-Watt drills Delamar property

A 5,000-ft exploratory drilling program has been completed by Fischer-Watt Gold Company on its Delamar property in Lincoln Cty., Nev. The company controls 144 claims in the district with six identified targets.

President Perry Dunning, confirms that early results from the April Fool target suggests a geologic potential of approximately 200,000 tons grading 0.07 oz gold based on four drill holes. Hole No 88-1 returned 50 ft of 0.073 oz and 40 ft averaging 0.087 while No 88-2 yielded 30 ft of 0.12 oz. Another hole, 88-3, gave 0.087 oz over 60 ft. Two other holes have yet to be reported and all intercepts were within 200 ft of surface.

Production at the company’s Tuscarora mine in Elko Cty., Nev. has increased to 1,000 oz gold and 4,100 oz silver per month. “The rise in production was due to increasing crusher capacity and enlarging the heap leach pad,” he notes. Fischer- Watt has a 29% interest in the project and Colorado-based Horizon Gold Shares is operator.

Fischer-Watt has a non-dilutable 23.5% interest in the Hayden Hill prospect in California. Amax Gold and U.S. Gold recently concluded an agreement to bring the project to feasibility. At this point, a minimum production rate of 60,000 oz gold per year could be achievable. Fischer-Watt, which discovered the deposit, will receive minimum advance royalties when the project is deemed feasible.