Grew Creek tops Noranda’s list

Described by some as the most significant gold find in the Yukon in many years, the Grew Creek discovery of Noranda Exploration and Golden Nevada Resources appears to be getting bigger.

The latest results include the longest gold intercept reported from their current joint venture program: 103.3 ft of 0.34 oz gold and 4.4 oz silver from hole No 87-29. Within that interval was a 59.1-ft section averaging 0.55 oz gold and 7.6 oz silver.

Encouraging results were also reported from a second hole, No 87-28, which returned 49.2 ft of 0.18 oz gold and 1.1 oz silver. That intercept included a section grading 0.63 oz gold and 5.3 oz silver over 9.8 ft. (All gold assays exceeding 1.0 oz have been cut to 1.0 oz.) Assay results are still pending from hole 87-30 which was targeted to intersect the zone 250 ft vertically below 87-29. Should this hole hit, it’s safe to conclude the tonnage implications would be significant, to say the least.

The two latest holes are 165 ft apart and they “show continuity of the main zone at the 200-ft horizon,” the joint venture notes. Noranda Exploration President John Harvey confirms that Grew Creek is “probably the number one project we have in B.C. and the Yukon,” and he emphasizes “it’s going to get our utmost attention.”

He concedes the “geology is certainly there for it to be a major discovery” but cautions there aren’t enough holes to back that hypothesis up. The discovery appears to occur on a major structure which he believes could be related to the lead-zinc deposits at Faro 25 miles to the northwest.

A second core drill is being added and further encouragement could see several others deployed, he states. The first drill, which ceased operation over the holiday season, was scheduled to resume drilling by the end of the week (Jan 9). It will be used primarily for definition drilling to fill gaps in their longitudinal sections.

The deposit appears to be stratabound with gold values occurring in a tuff horizon, implying some tonnage potential. The main mineral type is pyrite but there is minor mercury and arsenic occasionally, neither of which should cause problems. The property straddles a highway and a power source is nearby which should make Grew Creek attractive as a potential gold producer.