New results were released by Continental Gold (VSE) from the recently completed initial infill drill program within the Mt. Milligan gold-copper deposit, near Prince George, B.C.
The company said the program confirmed “excellent” reserve continuity and grade within the deposit which is currently estimated to contain 200 million tons grading 0.3% copper and 0.02 oz. gold per ton. The latest results include: HoleIntercept (ft.)% copperoz./ton gold 314 413.30.300.033 354 433.10.450.022 3601,265.70.270.016 3681,202.40.440.020 3731,069.20.210.036 380 846.50.370.014
In addition, 300-ft. spaced drilling has begun to outline the Southern Star deposit, south of the Mt. Milligan deposit. This deposit currently measures 3,800×1,600 ft. and is estimated to contain 100 million tons of a grade that is yet to be determined.
New results from the Southern Star include: HoleIntercept (ft.)% copperoz./ton gold 330597.10.270.008 339341.20.250.013 359249.30.300.014 363408.10.450.010 365242.80.340.011 367275.60.400.013 369164.00.560.014 381278.20.340.008 382484.60.460.031 386190.30.290.021
To date, Continental Gold has drilled 406 holes totalling 310,000 ft. on the Mt. Milligan and Southern Star deposits. Additional drilling is planned to expand the reserve base.
The company is also planning additional drilling for seven high grade gold veins that radiate from the Mt. Milligan deposit. A recent vein intercept is reported to have assayed 0.28 oz. gold over 59.1 ft.
Continental Gold owns 70% of the Mt. Milligan property with BP Resources Canada holding the remainder. BP Resources has filed a lawsuit against Continental alleging it has the right to acquire a greater interest in the project. Continental in turn recently filed a counter-suit seeking damages from BP.
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