Interaction completes Nevada drill program

Result of a 5,765-ft reverse circulation drill program are encouraging for Interaction Resources on its Fireball Ridge gold bet, near Reno, Nev.

The company completed 20 holes at a cost of about $70,000, President Linda Thorstad reports. The next phase will include geophysics, prospecting and additional drilling.

Assay results from the first four holes confirmed the presence of a significant gold-silver zone that is continuous from surface to a depth of at least 250 ft in the Fireball fault, Thorstad says. She adds that the mineralization appears to thicken at depth.

In the latest results, hole No 8, drilled 40 ft to 65 ft below surface, intersected 25 ft averaging 0.11 oz gold per ton, including 5 ft of 0.446. This higher-grade intercept corresponds to a previously drilled high grade section (0.522 oz gold over 10 ft) 50 ft to the southwest.

Hole No 9, drilled below the previous one, intersected 130 ft averaging 0.034 oz from 145 to 275 ft, extending the minimum depth of 260 ft below surface. The other holes intersected 55 ft averaging 0.018 oz and 45 ft averaging 0.02 oz.

Interaction acquired the property from Cominco Resources International last May and has the right to purchase a 100% interest, subject to a 6% net smelter return. The company plans a private placement to finance the project.