Data from the program is being loaded into computers, but the company will have to complete cross sections before a reserve calculation is made. Recent results included 85 ft of 0.043 oz gold (TCL 20), 55 ft of 0.031 oz (TCL 22), 205 ft grading 0.026 oz (TCL 21), including 25 ft of 0.04 oz, and 25 ft averaging 0.017 oz.
Hole TCL 20 was terminated in the mineralized horizon and had to be redrilled. That hole encountered the mineralized horizon at a depth of 285 ft and was still in the horizon when it was terminated at 450 ft due to lost circulation. Assay results for this 165-ft intersection are pending.
Another hole is being drilled in the central fault zone before the drill rig is moved to the Tomera option about a mile to the northwest. This property falls under an option agreement with Battle Mountain Gold (NYSE).
Surface sampling on Tomera has identified anomalous gold values ranging up to 160 ppm associated with carbonates. Five holes will be drilled there and Quartermain says the company’s objective is to outline about 100,000 oz of gold in two open pits.
Westmont Mining, a subsidiary of Costain Group PLC, listed on the London Stock Exchange, has approached Lord River about a possible joint milling arrangement. “We’ll get together this fall and compare notes,” Quarterm ain states.
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