According to Crown Butte, drilling in the Miller Creek area is confirming the continuity of gold- copper mineralization encountered in drilling earlier this season. The company also said step-out drilling indicates that mineralization may extend a further 1,500 ft to the east.
Significant intersections from recent drilling include: Interval Thicknesss Gold Copper Silver Hole (ft) (ft) (oz/ton) (%) (oz/ton) 89-415 380-390 10.0 0.186 1.55 2.56 435-445 10.0 0.264 0.39 0.54 89-422C 206-233 27.0 0.521 2.78 2.68 263-272 8.4 0.426 1.14 1.01 287-293 5.0 0.143 1.55 1.88 303-309 6.1 0.565 3.09 2.56 89-427C 324-334 10.0 0.114 4.07 3.58 89-429C 145-155 10.0 0.332 1.33 2.06 89-433 335-465 130.0 0.041 0.11 0.15 89-434 345-355 10.0 0.303 0.98 2.46 89-435 255-270 15.0 0.103 0.01 0.20 89-436 145-150 5.0 0.253 0.01 0.23 220-225 5.0 0.233 2.35 1.94 89-444 235-250 15.0 0.645 1.56 0.14 89-451 225-240 15.0 0.470 0.31 0.09 89-454 315-325 10.0 0.131 0.30 0.27
Winter comes early at 10,000 ft as evidenced by adverse weather conditions that recently shut down drilling until next season. Although assays are pending on about 15 holes, more interest will likely be placed on the release of reserve calculations for the New World property in early 1990.
Elsewhere, the exploration agreement that required Noranda to present Crown Butte with an independent feasibility study by year- end was extended to April, 1991. In return for the extension, Noranda will provide for $500,000 in expenses and arrange project financing in the event of a positive feasibility study.
In addition, by paying 25% of the capital cost required to bring the property into production, Noranda may increase its position in Crown Butte from its current 24% to a 60% interest.
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